#FTSE #Nasdaq Once again, it’s that time of the year when we must remember neither Santa nor Politicians oaths are real. After all, a new wrinkle to the old joke; “How can you tell if a politician is lying? – ‘Cos you’ve not read their obituary yet!” has been provided by Doris as it appears unlikely he shall be found in a ditch on November 1st.
We last covered Dixons a year ago and their price movements now appear to suggest a surprising change in mood. The share price need only trade above 140p to enter a cycle which suggests some coming recovery toward an initial 159p. If exceeded, secondary calculates at a rather impressive, if visually questionable, 210p. Our excuse for questioning such a target level is fairly simple. For some reason, targets which sit 1/2 way in the middle of a gapped down (manipulated) region rarely turn out to be correct. We’re no idea why this is the case but over the years, we’ve learned to take such ambitions with a pinch of salt. In the case of Dixons, we suspect any rise which does exceed 159p is liable to fizzle out around the 188p level as the force of the gap down in May of last year looks capable of throttling a rise.
Our previous review of Dixons had given a drop target at 110p, something obviously achieved. Our secondary had a question mark over it as the calculation gave 55p as “bottom”. As this was precisely 1/2 our initial target, if didn’t ring true. Instead, despite a break of 110p, the lowest achieved since was 89p and the market appears to be making an effort to recover the price. At present, anything which gave Dixons share price an excuse to fall again below 110p will now be perfectly capable of 55p as “bottom” eventually. The visuals do not suggest this is likely.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
9:42:45PM |
BRENT |
61.18 |
‘cess | ||||||||
9:44:33PM |
GOLD |
1488.3 |
‘cess | ||||||||
9:46:21PM |
FTSE |
7311.73 |
7262 |
7240 |
7204 |
7318 |
7319 |
7336 |
7361 |
7272 | |
9:47:47PM |
FRANCE |
5746.5 |
‘cess | ||||||||
9:53:55PM |
GERMANY |
12939 | |||||||||
9:55:25PM |
US500 |
3038.02 | |||||||||
10:10:51PM |
DOW |
27101.5 | |||||||||
10:14:24PM |
NASDAQ |
8054.94 |
8043 |
8038.5 |
8011 |
8074 |
8108 |
8123 |
8150 |
8053 | |
10:15:59PM |
JAPAN |
22924 |