Trends and Targets for 30/09/2019

Purple Bricks (LSE:PURP) A colour made fashionable by a dead pop star provides sufficient reason for distrust with Purple Bricks. Prince, with sufficient clout to do his own thing, often proved the axiom, “just because you can, doesn’t mean you should.” Anyone who’s suffered his extended album tracks will know the meaning of self indulgent. His legacy, as far as this writer was concerned, transpired to be distaste for any fad which prefers Purple.

Something has gone terribly wrong with Purple Bricks share price with the result extreme caution is now required, if it somehow manages CLOSE below 91p. Unfortunately, this looks likely as weakness now below 110p indicates coming travel to an initial 78p, almost matching the share price at the initial launch.

From our perspective, this shall prove an extremely dangerous situation as below 78p and we can calculate an initial 44p with secondary, if (when) broken at an ultimate bottom of 31p. This ultimate bottom certainly presents a level where our rules will suggest, rather firmly, the share price will bounce with some integrity. As to whether it ever attempts its historical highs above 5 quid in the future looks unlikely, unless some miracle occurs.

At present, Purple Bricks requires exceed 137 just to exceed the immediate downtrend and enter a cycle where our initial calculation suggests 148p with secondary, if bettered, a donk against 186p and the historical uptrend.

We’re not impressed with the ones performance but if the share indeed ever manages visit the 30’s, if should prove worth keeping an eye on.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

12:41:24PM

BRENT

61.31

59.9

59.595

58.78

62

62.08

62.745

63.71

60.25

‘cess

12:43:36PM

GOLD

1497.49

               

Success

12:50:24PM

FTSE

7410

               

‘cess

1:43:53PM

FRANCE

5612

               

1:45:55PM

GERMANY

12349

12302

12267

12219

12386

12405

12446.25

12490

12312

‘cess

1:56:15PM

US500

2966.52

               

Success

1:59:21PM

DOW

26859

               

‘cess

2:33:32PM

NASDAQ

7696

               

Success

3:05:53PM

JAPAN

21745

               

Success

 

27/09/2019 FTSE Closed at 7426 points. Change of 1.02%. Total value traded through LSE was: £ 5,153,175,724 a change of -21.17%

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