Legal & General on 11/11/2019

#Brent #DAX Easily overlooked when thinking about shares, Legal & General actually have an interesting history. We’ve an anecdote from 2009 when commenting it was a worthwhile buy above 80p. A friend, pretending not to listen, immediately rushed away and bought 80 shares! Thankfully it worked out for her and she’s still got them, wishing she’d instead bought 8,000. Or even 800…

She paid 75p per share, making our lives a misery during 2010, each time “her investment” dipped slightly.

For the last few years, the price has alternated between boring and death defying, thanks to that dip the day after the Brexit vote. Quite a curious situation now exists where there appears a chance the price shall attempt a new trading range. Key will be movement above 295p.

(Elaine, if you are reading this, IT IS NOT 295 shares but a trigger above the 295p mark.)

Above 295p should prove capable of growth to an initial 331p. If exceeded, our secondary calculates at a longer term 393p.

Of course, there’s a however, one which feels unlikely.

Now below 230p risks trouble, thanks to the price movement in August 2019 which proved the share price could break the Red uptrend since the market crash. Any further weakness below this “danger sign” level risks reversal to an initial 153p. If broken, secondary calculates at a bottom (ideally) of 118p along with a reasonable bounce.

If anyone is curious, there’s 2 different uptrends shown. One paints the days closing prices (Red), the other measures the Day Lows (Grey). In August, the market dip broke both trend lines, hence our concern.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

1:00:07PM

BRENT

62.42

61.13

60.22

59.25

62.17

61.98

62.765

63.55

61.18

Success

1:17:00PM

GOLD

1459.3

               

‘cess

1:26:37PM

FTSE

7380.83

               

Success

1:34:51PM

FRANCE

5901

               

Sorry

1:36:36PM

GERMANY

13255

13195

13178.5

13137

13267

13279

13302.5

13338

13235

1:38:15PM

US500

3092.17

               

1:40:00PM

DOW

27675

               

1:41:38PM

NASDAQ

8251.87

               

1:43:38PM

JAPAN

23480

               

8/11/2019 FTSE Closed at 7359 points. Change of -0.63%. Total value traded through LSE was: £ 4,798,106,379 a change of -22.57%

7/11/2019 FTSE Closed at 7406 points. Change of 0.14%. Total value traded through LSE was: £ 6,196,615,818 a change of 30.74%

6/11/2019 FTSE Closed at 7396 points. Change of 0.11%. Total value traded through LSE was: £ 4,739,678,595 a change of -23.11%

5/11/2019 FTSE Closed at 7388 points. Change of 0.26%. Total value traded through LSE was: £ 6,164,114,046 a change of 25.79%

4/11/2019 FTSE Closed at 7369 points. Change of 0.92%. Total value traded through LSE was: £ 4,900,286,853 a change of -8.27%

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%

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