Woodford Patient Cp Trst for 15/10/2019

#Gold #SP500 Hell IS NOT Woodfords price movements, it’s two grand-daughters visiting for their school holidays. A normal morning has one of the dogs barking at a red squirrel outside. Monday morning at 7am instead had a child playing a 12 string guitar, accompanied by the other on a mandolin. Neither child can play an instrument; a stupid promise of being taught some basics this week ensured a really unpleasant wakeup. Thankfully chainsaw lessons had not been mentioned!

Last time we reviewed Woodford (link), we’d given 52.60p as level, below which, opened the gates of hell. Once again, we’ve had a few emails asking us to explore what may be coming next. There’s a fairly major issue as last time, we were unable to calculate below 52.60p without casually throwing minus signs into the conversation. This is still the case but if we opt to work on the period from the point the share was forced down (circled) from the 80p region, there’s something potentially interesting.

At time of writing, it’s trading at 37.6p, needing below 35p to once again serve notice of trouble. This time, below 35 indicates the potential of movement to 32.5p with secondary, if broken, down at 30p. Given these are virtually the same number, the usual suggestion is of a share approaching a real bottom, a level at which a rebound can be indicated.

All this Brexit nonsense was the subject of conversation at the weekend. A chum was visiting, a bloke whose company specialises in asbestos survey pre-renovation or demolition. Over the years, we’ve learned to associate the volume of his work with how busy the economy is going to be. The thinking is fairly simple, if corporate bodies are employing him, there’s a fair bit of money about to be spent. Presently, he’s turning away contracts, due to being deluged with public and private sector requests. Given historical experience, thoughts of a slump post Brexit are liable to fade.

For the likes of Woodford, a trust fund suffering some investment choices which, for now, appear dreadful, if there is a miracle surge in share prices post-Brexit (if it ever happens) we’d suspect Woodfords share price to echo the wider market. This is why we’re a little bit interested at the “feel” of it approaching a bottom.

Sensible people, opting to play safe, will doubtless wait and see if the share recovers above 50p. In such an event, we’re calculating an initial ambition at 57.5p with secondary, if bettered, a longer term 75p. Beyond 75p and we shall need shake the tea leaves again.

Otherwise, it is worth remembering the share, despite our slight enthusiasm, is trading in a region where The Big Picture cannot calculate a bottom without minus signs!

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:23:08PM

BRENT

59.12

               

Success

10:24:51PM

GOLD

1493.88

1485

1481.5

1476

1494

1497

1500

1509

1488

‘cess

10:26:47PM

FTSE

7224.21

               

10:28:19PM

FRANCE

5640.5

               

‘cess

10:30:57PM

GERMANY

12482

               

10:40:33PM

US500

2967.02

2954

2947.5

2932

2980

2974

2982.5

2992

2954

10:43:47PM

DOW

26800

               

10:45:53PM

NASDAQ

7850.24

               

10:48:23PM

JAPAN

21991

               

‘cess

14/10/2019 FTSE Closed at 7213 points. Change of -0.47%. Total value traded through LSE was: £ 5,646,210,010 a change of -31.78%

11/10/2019 FTSE Closed at 7247 points. Change of 0.85%. Total value traded through LSE was: £ 8,276,859,342 a change of 51.67%

10/10/2019 FTSE Closed at 7186 points. Change of 0.28%. Total value traded through LSE was: £ 5,457,100,667 a change of 4.75%

9/10/2019 FTSE Closed at 7166 points. Change of 0.32%. Total value traded through LSE was: £ 5,209,605,060 a change of -0.79%

8/10/2019 FTSE Closed at 7143 points. Change of -0.75%. Total value traded through LSE was: £ 5,250,871,756 a change of -5.63%

7/10/2019 FTSE Closed at 7197 points. Change of 0.59%. Total value traded through LSE was: £ 5,564,169,791 a change of 8.23%

4/10/2019 FTSE Closed at 7155 points. Change of 1.1%. Total value traded through LSE was: £ 5,141,232,015 a change of -4.88%

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