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”.

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%