RBS 23/01/2020

#France #DOWJONES It’s time for our monthly dip into the rancid waters of the UK’s Retail Banking Sector. So far this year, #RBS hasn’t need seek trouble as the price revels in a period of decline. We’re not even confident a downtrend exists to map movements against, the price tending move with the directional ability of a house fly!

At time of writing, it’s trading around 222p and we’ve a ‘concern’ level flagged at 211.25p. Essentially, if the price next manages trade below such a level, an initial (useless) drop target of 208p is expected. In fairness, we’d expect some sort of bounce at the 208p level, despite any initial break. Our secondary target, and hopefully a sensible bottom, calculates down at 189p. (or 18.9p in old money, prior to their 10:1 reconfiguration in an attempt to hide quite how dire price movements have been)

There’s a pretty major problem, should 189p break.

As the chart shows, 159 lurks below this level but as the price moves into the land of Lower Lows, bottom works out at 114p eventually.

There is (thankfully) a fairly major ‘however’. Circled on the chart was a forced movement to propel RBS above a trend line. At the time, we feared the share could suffer being gapped back below the trend, a market ploy which traditionally leaves investors walking funny. Thankfully, this has not happened (so far) either with RBS, Barclays or Lloyds. This gives us vague hope the market isn’t intending to utterly throttle Retail Bank share prices.

If this is to prove the case, we’d hope for a bounce anytime now. In theory, anything above 226p calculates with an initial potential of 230p, utterly useless in the great scheme of things. But if 230p is exceeded, we’re looking for secondary at 242p along with recovery above the trend. This should be significant, moving the share to relative safety with at least an attempt at the level of the most recent high, our target calculating at 261p.

Hey, chart goes here
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

9:33:47PM

BRENT

62.43

               

Success

9:35:30PM

GOLD

1558.91

               

9:41:41PM

FTSE

7567.33

               

Shambles

10:04:13PM

FRANCE

5999.2

5997

5978

5947

6034

6068

6081

6109

6025

Success

10:17:55PM

GERMANY

13465

               

Success

10:19:28PM

US500

3318.37

               

‘cess

10:21:59PM

DOW

29158

29132

29110.5

29033

29224

29323

29403.5

29494

29214

Success

10:24:50PM

NASDAQ

9176.87

               

Success

10:26:49PM

JAPAN

23817

               

Success

 

22/01/2020 FTSE Closed at 7571 points. Change of -0.51%. Total value traded through LSE was: £ 5,604,978,241 a change of 11.63%

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%

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