TERN PLC for 11/07/2019

#DAX #NK225 A core ingredient in time travel stories generally revolves around the hero’s inability to arrive at the correct date and time. Back To The Future provided a great series of films and Dr Who, a continual TV series. Albeit one with currently a rubbish Doctor! We never conceal an inability to be concise with timeframes. After all, if Dr Who or Marty McFly can’t do it, who can? TERN manages to illustrate this quite neatly.

When reviewing Tern last December, (link here) we warned of the dangers below 12p as a visit to 7.5p was possible. The price broke 12p in February yet it was to take until April before it achieved our drop target, thankfully eventually bouncing by double. Since then, it has done very little other than assure the market it’s still trading by going up and down a bit. We’re not going to suspect further price recovery is upon it unless the share manages close a session above 12.65p or, trades intraday above 13.25p.

Either criteria should prove fairly significant, allegedly launching the price into a region where growth toward an initial 15.75p makes sense. Longer term (or the next day), secondary calculates at 20.5p. There is something slightly interesting about the secondary, given the prices history since October last year. A glass ceiling appears to be lying in wait and we’d be surprised if it failed to promote some hesitation in any rising cycle.

We’d be remiss if we failed to inject some misery into our thinking. Below RED, presently around 8p, would be alarming as it permits reversal to a new bottom of 4p.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:48:37PM	BRENT	66.47									Success
9:50:26PM	GOLD	1418.19									Success
9:52:20PM	FTSE	7545.24
9:59:24PM	FRANCE	5575.5									‘cess
10:01:19PM	GERMANY	12383	12353	12327	12286	12434	12459	12498.5	12547	12386	‘cess
10:03:41PM	US500	2992.77									Success
10:06:27PM	DOW	26861.5									Success
10:09:07PM	NASDAQ	7902.24									Success
10:10:36PM	JAPAN	21542	21481	21430	21362	21579	21636	21665	21733	21500	Success

10/07/2019 FTSE Closed at 7530 points. Change of -0.08%. Total value traded through LSE was: £ 4,865,997,010 a change of 0.89%