Elementis 22/01/2020

#FTSE #JAPAN World famous for their Hectorite Clay, along with other famous products we’ve never heard of, we’ve received a few emails regarding #Elementis share price future potentials. A greasy, white, clay, used in cosmetics, it was named after the town/junction of Hector, California, where it was discovered in 1941.

Now we know more about Hectorite than we needed, how’s the share price doing?

At present, it’s hovering on the edge of trouble with closure below 133 indicating coming reversal to an initial 111p with secondary, if broken, at 103p. Visually there appears ample reason to hope for a rebound at such a level. Not least amongst the reasons will be folk reviewing the low of 2011, believing the price must bounce at such a point and executing a buy order, thus creating a self fulfilling scenario.

The other reasons to hope for a bounce, if the 111p / 103p levels appear, comes from our secondary calculation. Below 103p takes the share price into a region where ultimate bottom calculates at 39p, this being a level we cannot comfortably calculate below. Invariably, when there is such a massive gap between an immediate target and “bottom”, any immediate target tends provoke a reasonable level of recoil.

The immediate situation is fairly interesting. Regardless of whether we draw a Red line mapping the “low of day” or “closing price”, the share almost perfectly hit the uptrend since 2009 and has refused to break it. Perhaps this indicates a bounce is immediate due and if this is the case, above 144 allegedly should bring travel to an initial useless 148p. If exceeded, our secondary calculates at 165p and visually will suggest the recent circled drop was overdone. It is fairly unusual for the market to admit such an error unless some miracle news surfaces for a share.

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

10:23:11PM

BRENT

63.92

               

Success

10:25:22PM

GOLD

1558.99

               

Success

10:27:45PM

FTSE

7593.87

7571

7543.5

7494

7625

7623

7651

7686

7560

Success

10:29:25PM

FRANCE

6027.2

               

Success

10:32:32PM

GERMANY

13531

               

Success

10:34:56PM

US500

3320.22

               

‘cess

10:41:01PM

DOW

29218

               

Success

10:43:20PM

NASDAQ

9167.37

               

Shambles

10:45:30PM

JAPAN

23782

23762

23736.5

23603

23889

23923

23952.5

24016

23815

Success

21/01/2020 FTSE Closed at 7610 points. Change of -0.54%. Total value traded through LSE was: £ 5,020,947,785 a change of 18.76%

20/01/2020 FTSE Closed at 7651 points. Change of -0.3%. Total value traded through LSE was: £ 4,227,858,188 a change of -33.49%

17/01/2020 FTSE Closed at 7674 points. Change of 0.85%. Total value traded through LSE was: £ 6,356,734,989 a change of 21.03%

16/01/2020 FTSE Closed at 7609 points. Change of -0.43%. Total value traded through LSE was: £ 5,252,079,163 a change of -22.59%

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%

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