Galliford Try 16/01/2020

#SP500 #DOW Despite a company name like a quaint pub, beside a slow river on a summer day, Gallifords share price moves are proving less than alluring. Our previous report (link) was loaded with concern as the share price risked a traumatic drop. Starting this year with reversal from 8 quid to 103p justified our concern, along with raising further concerns for the future.

Shareholders are probably pretty aggravated about both the drop and the method employed. The share price was gapped (manipulated) upward above the downtrend since 2017, mid way through last December. Generally, this sort of price movement gives considerable optimism for the longer term, indicating the market wants the price to head upward. Of course, in this instance, it all went wrong with the official Share Exchange Ratio & Listing Details announcement at the start of this year.

By any standards, price movements have become messy and the share needs above 173p to give hope of recovery up to an initial 211p. Above 211p and we shall need revisit the numbers.

The “bottom” of 103p achieved at the start of this year was, according to our calculations, pretty concise. GFRD cannot afford movement below 103p at present as we cannot calculate further drop targets. With a share price being moved down, exactly to the 103p level, we’ve some hope the price shall simply mess around until news flow from the company provides genuine force to drive the share.

As a result, weakness anytime now below 150 risks reversal to an initial 138p. If broken, secondary is at 120p and hopefully a bounce.

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

10:11:01PM

BRENT

63.81

               

10:12:57PM

GOLD

1556.9

               

Success

10:15:11PM

FTSE

7631.68

               

10:17:25PM

FRANCE

6021

               

Shambles

10:19:07PM

GERMANY

13419.91

               

10:20:51PM

US500

3293.77

3274

3265

3254

3294

3298

3302.5

3312

3280

‘cess

10:24:34PM

DOW

29079

28835

28736.5

28604

28988

29135

29194.5

29337

28958

10:26:12PM

NASDAQ

9048.12

               

10:28:09PM

JAPAN

23955

               

 

15/01/2020 FTSE Closed at 7642 points. Change of 0.26%. Total value traded through LSE was: £ 6,784,341,362 a change of 13.94%

14/01/2020 FTSE Closed at 7622 points. Change of 0.07%. Total value traded through LSE was: £ 5,954,176,416 a change of 15.24%

13/01/2020 FTSE Closed at 7617 points. Change of 0.4%. Total value traded through LSE was: £ 5,166,914,509 a change of -0.84%

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%

This post has already been read 155 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.