Kingfisher 13/01/2020

#Brent #DAX When the US President, Mr Trump, recently moaned about the poor quality of modern toilet flushes, there was a definite “hold on a minute” in-house as we’d made an identical comment, one alas ignored by the worlds media. It was June last year (link) and an article about Kingfisher (aka B&Q), along with the reasons their share price was going to flush itself down to 184p.

We were correct about modern toilets and their illusory water savings and oh, yes, we were also correct about 184p as a rebound level.

Importantly, our 184p drop ambition was not breached, this giving the hope the current (somewhat moderate) rebound shall prove to have some integrity. The immediate situation suggests above 230p should now aim for an initial 240p with secondary, if bettered, calculating at a longer term 267p. Visually, it appears any rise risks foundering at the 267p as there’s little doubt a glass ceiling awaits at such a level.

That’s about the end of any positive spin on this story as we’re nervous at the slavish attention being paid to the downtrend since 2018. It has created the situation, where weakness now below the trend (208 presently) signals the prospect of reversal to an initial 197p with secondary, when broken, down at 175p. The secondary level scares us more than a modern WC as it takes the price into a region with 141p as “bottom”.

Hey, chart goes here
FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

7:52:28PM

BRENT

64.77

64.51

64.08

63.13

65.76

65.76

66.145

66.75

64.57

7:54:52PM

GOLD

1562.49

               

8:08:11PM

FTSE

7570.69

               

Shambles

8:29:00PM

FRANCE

6017

               

9:48:39PM

GERMANY

13447.65

13430

13413

13379

13519

13555

13628

13688

13433

10:20:41PM

US500

3263.42

               

Shambles

10:23:09PM

DOW

28806

               

‘cess

10:35:22PM

NASDAQ

8962.12

               

‘cess

10:37:34PM

JAPAN

23684

               

‘cess

 

10/01/2020 FTSE Closed at 7587 points. Change of -0.14%. Total value traded through LSE was: £ 5,210,689,793 a change of -8.73%

9/01/2020 FTSE Closed at 7598 points. Change of 0.32%. Total value traded through LSE was: £ 5,708,798,775 a change of 5.62%

8/01/2020 FTSE Closed at 7574 points. Change of 0.01%. Total value traded through LSE was: £ 5,404,992,564 a change of 14%

7/01/2020 FTSE Closed at 7573 points. Change of -0.03%. Total value traded through LSE was: £ 4,741,303,337 a change of 0.44%

6/01/2020 FTSE Closed at 7575 points. Change of -0.62%. Total value traded through LSE was: £ 4,720,635,792 a change of 20.67%

3/01/2020 FTSE Closed at 7622 points. Change of -100%. Total value traded through LSE was: £ 3,912,167,844 a change of 0%

30/12/2019 FTSE Closed at 7587 points. Change of 0%. Total value traded through LSE was: £ 3,213,676,764 a change of 0%

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