#Gold #US500 Our report on #Fevertree last September (link) did not prove terribly popular with a few readers. Of course, who likes being told “your investment looks dodgy”, when the investor has taken the time to research the company to hell and back. But, rather more often than people like, ‘the computer says’ tends be correct. (link)
Whatever the contents of their trading update on 20th January, as for as ‘the computer’ goes, the writing had been on the bottle for 4 months.
The share price opened the day down, just above our initial drop target of 1632p. Amazingly, following an initial drop below target, after 30 minutes of trading the price recovered and briefly revisited our drop target, almost a gentle kiss to confirm our numbers were correct. Then it dropped like a stone!
The situation now is unbelievably messy as weakness below 1411p suggests ongoing travel down to 1215 with secondary, if (or rather when) broken, calculating at 983p and hopefully a proper rebound. To be honest, we’d prefer if the price bounced before the 983 level as it should imply some residual strength. Of course, there’s an important “however”.
Should the share find sufficient reason to break 983p, it looks like our Ultimate Bottom of 159p risks coming to fruition. This, neatly, would undo all the work of the last 5 years.
To get out of trouble, the share price needs exceed Blue on the chart, presently at 2092p. We’re not optimistic.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:08:26PM |
BRENT |
64.62 |
64.48 |
‘cess | |||||||
10:10:28PM |
GOLD |
1560.89 |
1553.75 |
1552.5 |
1549 |
1561 |
1563.5 |
1569.5 |
1581 |
1553 | |
10:12:47PM |
FTSE |
7655.7 |
7644 | ||||||||
10:15:19PM |
FRANCE |
6081.2 |
6076 | ||||||||
10:19:03PM |
GERMANY |
13579.25 |
13529 |
‘cess | |||||||
10:23:46PM |
US500 |
3325.37 |
3315 |
3311 |
3305 |
3326 |
3329 |
3336 |
3345 |
3315 | |
10:25:40PM |
DOW |
29336.2 |
29291 | ||||||||
10:29:53PM |
NASDAQ |
9164 |
9117 | ||||||||
10:32:07PM |
JAPAN |
24058 |
24040 |