Metro Bank for 4/11/2019

#BRENT #DAX Similar to UK politics, this is on the edge of becoming interesting. We last reviewed Metro in September (link) and we’d some pretty foul expectations for its future. Something seems to have changed and now, we’ve calculated a trigger level which appears capable of provoking a “sure thing” trade!

There’s no such thing as a “sure thing” and to be blunt, the best we’d describe the potential is one of movement with an enhanced expectations. Perhaps, a bit like saying some MP’s will be elected on December 12th, just we’re not sure whom nor where…

To cut to the chase, the situation appears to be fairly straightforward. If this lot now manage trades above 248p, we’re calculating an initial 301p as an initial target ambition. Visually, this makes a lot of sense, matching the plateau of prices until September 23rd. In fact, if 301p makes an appearance, the share can be expected to experience some hesitation thanks to folk trapped at the 3 quid level dumping their shares in exchange for cash, doubtless to be wasted on Xmas presents, frivolity, or any number of undeserving causes which appear at this time of year. (Guess who made the mistake of going Xmas shopping at the weekend!)

Longer term, closure above 301p is liable to prove interesting, calculating with a surge to a vague looking 432p. In fact, we’re supposed to believe 641p is exerting an influence, a price level we’re less than confident about. In this instance, the only movement which appears to have some confidence is from 248 up to 301p.

If it’s all going to go wrong, the price needs fail below 198p at present to give serious alarm as this appears capable of bringing 175p initially. If broken, secondary computes at 125p and hopefully a bottom capable of providing a rebound.

For now, it appears worth keeping an eye on for our trigger level making an appearance.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

11:57:07AM

BRENT

61.65

59.16

58.49

57.4

60.85

60.88

62.08

62.58

60.4

Success

12:00:51PM

GOLD

1514.79

               

12:16:09PM

FTSE

7312.77

               

Success

12:17:25PM

FRANCE

5770.7

               

‘cess

12:19:19PM

GERMANY

12979

12895

12867.5

12826

12960

12992

13026

13104

12946

Success

12:27:50PM

US500

3065.92

               

‘cess

12:30:06PM

DOW

27334.9

               

‘cess

12:33:47PM

NASDAQ

8159.87

               

‘cess

12:35:35PM

JAPAN

22946

               

Success

 

1/11/2019 FTSE Closed at 7302 points. Change of 0.75%. Total value traded through LSE was: £ 5,342,127,869 a change of -12.99%

31/10/2019 FTSE Closed at 7248 points. Change of -1.12%. Total value traded through LSE was: £ 6,139,753,782 a change of 11.95%

30/10/2019 FTSE Closed at 7330 points. Change of 0.33%. Total value traded through LSE was: £ 5,484,235,986 a change of 6.15%

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%

 

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