Dixons Carphone Plc for 30/10/2019

#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 not be perfectly capable of 55p as “bottom” eventually. The visuals do not suggest this is likely.

FUTURES

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

               

29/10/2019 FTSE Closed at 7306 points. Change of -0.34%. Total value traded through LSE was: £ 5,166,736,018 a change of 9.98%

28/10/2019 FTSE Closed at 7331 points. Change of 0.1%. Total value traded through LSE was: £ 4,697,887,789 a change of 4.65%

25/10/2019 FTSE Closed at 7324 points. Change of -0.05%. Total value traded through LSE was: £ 4,489,255,680 a change of -20.08%

24/10/2019 FTSE Closed at 7328 points. Change of 0.94%. Total value traded through LSE was: £ 5,617,068,603 a change of -3.47%

23/10/2019 FTSE Closed at 7260 points. Change of 0.67%. Total value traded through LSE was: £ 5,818,863,244 a change of 3.71%

22/10/2019 FTSE Closed at 7212 points. Change of 0.68%. Total value traded through LSE was: £ 5,610,839,707 a change of -3.73%

21/10/2019 FTSE Closed at 7163 points. Change of 0.18%. Total value traded through LSE was: £ 5,828,185,910 a change of -4.14%

This post has already been read 125 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.