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.
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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