#GOLD #CAC40 Explorer and producer, Cairn PLC @CairnEnergy, have suffered since 2014 from a rather boring share price. As the chart shows, the share price has been fluttering above and below the 2 quid level for 5 years, essentially giving all the hallmarks of “safety”. Even near term, the potentials being highlighted are sane!
Movements now above 180p should embark the price on a climb to an initial 187p. If exceeded, our secondary calculates at 202p. To be blunt, neither ambition is particularly impressive but the important thing shall come if 202p is exceeded for any reason. This would tend imply, quite firmly, a new recovery cycle is hopefully about to commence with movement toward 259 looking very possible.
There is a fly in the ointment, worth mentioning if the company find an excuse to issue negative news. Below 138p would now prove a bad thing, risking reversal to an initial 91p with secondary, if broken, down at 60p,
From our usual perspective, we’d already be resigned to this visiting 91p eventually as two, quite distinct, Big Picture criteria calculate the price already being on a path to 91p. To utterly cancel the prospect, the share requires trade above BLUE on the chart, presently 230p. This is why our paragraph on price recovery above is so important. The share price is already showing some early potential of movements to break its current malaise. All it need do is go up a bit.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:27:00PM |
GOLD |
1416.95 | |||||||||
|
9:29:32PM |
BRENT |
65.87 |
65.77 |
65.505 |
64.85 |
66.7 |
67.13 |
67.4 |
67.94 |
66.15 |
‘cess |
|
9:31:57PM |
FTSE |
7534 |
Shambles | ||||||||
|
9:33:52PM |
FRANCE |
5581.2 |
5548 |
5534.5 |
5510 |
5582 |
5598 |
5612.5 |
5634 |
5563 |
‘cess |
|
9:39:08PM |
GERMANY |
12412 |
‘cess | ||||||||
|
9:41:13PM |
US500 |
3014.4 |
‘cess | ||||||||
|
9:43:23PM |
DOW |
27353 |
‘cess | ||||||||
|
9:45:52PM |
NASDAQ |
7964 |
‘cess | ||||||||
|
9:48:18PM |
JAPAN |
21610 |
Shambles |
