#CAC40 #Nasdaq As our ‘great nation’ crawls pitifully toward elections or referendum, it’s easy to remember we used to elect people who did stuff. A clear winner from the UK’s political incompetence has been polling companies, so we’re reviewing YouGov as their share price is reaching new highs.
At present, YouGov is showing itself as a little problematical!
The Big Picture had given a “maximum” target level of 622p and the share price has come within such an ambition level, certainly in the range of a “margin for error” so beloved by their statistical people. Near term, there’s little doubt continued traffic above 611p should attain the 622p level anyway but our puzzlement is due to a certain lack of market intervention at present. Essentially, if the market wished YouGov to exceed 622p we would expect the share price to be manipulated upward at the open.
Instead, the best witnessed during August were a couple of little nods upward, one by 3p and another by 4p. Neither movement is particularly substantial and makes us suspect, if 622p makes an appearance, we should expect some volatility around such a level, if only to generate future impetus for another rise. Above 622p and we can calculate a secondary, a very suspect 640p. With the best will in the world, we cannot calculate higher.
Of course, just because we run out of numbers does not mean a price cannot go higher. Our arrogance has its limits but generally, the market would already be stretching a price’ potentials by gapping it up at the open.
To indicate trouble ahead, YouGov needs trade below 539p, this risking reversal to an initial 506p. If broken, secondary is at 471p. For now, we suspect it shall prove to be a short opportunity for a while, if 622p appears. Visually, it will make sense if the price bounces between 545 and just above 600 for a while, at least until our wonderful leadership decide how firmly they wish to delay making another decision.
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Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:49:29PM |
BRENT |
60.35 |
Success | ||||||||
|
9:51:09PM |
GOLD |
1552.99 |
‘cess | ||||||||
|
9:53:17PM |
FTSE |
7308.77 | |||||||||
|
9:55:03PM |
FRANCE |
5537.2 |
5496 |
5489 |
5473 |
5526 |
5538 |
5548.5 |
5564 |
5505 |
Success |
|
9:57:05PM |
GERMANY |
12043.49 |
Success | ||||||||
|
9:58:31PM |
US500 |
2938.67 |
Success | ||||||||
|
10:01:49PM |
DOW |
26368 | |||||||||
|
10:03:14PM |
NASDAQ |
7719.67 |
7641 |
7626.5 |
7593 |
7692 |
7727 |
7750.5 |
7808 |
7660 |
‘cess |
|
10:05:14PM |
JAPAN |
20816 |
‘cess |