#FTSE #Nasdaq For many private investors, this lot must feel like watching a Party Political Broadcast, prompting the question of ‘how long can this agony last?’ Last reviewed in July last year (link) we’d proposed a bottom of 178p. It successfully hit this target on Tuesday. The big question now, will it bounce?
Visually, GKP needs above 197p at present to exceed Blue on the chart, entering a zone where some proper price recovery becomes possible. Such a miracle calculates with an initial, meagre, ambition at 201p with secondary, if exceeded, a more useful 220p. While the visuals suggest a glass ceiling can be expected at 220p, closure above such a level allows for a longer term 251p. Beyond such a level, we shall need stir the tea leaves again as the path to such a significant level will require scrutiny.
Unfortunately, it feels more likely 178p shall break anytime soon, provoking weakness next to an initial 170p with secondary, if broken, down at 153p. We’d hope the calculation of a potential 153p shall prove incorrect as this will take the price below the dip at the end of 2018, solidly in a zone where negative news could swiftly drive 125 or below.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:12:28PM |
BRENT |
57.48 |
‘cess | ||||||||
10:15:06PM |
GOLD |
1602.67 |
Success | ||||||||
10:17:29PM |
FTSE |
7403.44 |
7350 |
7312 |
7229 |
7423 |
7407 |
7429.5 |
7456 |
7367 |
‘cess |
10:19:37PM |
FRANCE |
6071.7 |
‘cess | ||||||||
10:26:12PM |
GERMANY |
13708 |
Success | ||||||||
10:28:48PM |
US500 |
3371.47 |
Success | ||||||||
10:31:11PM |
DOW |
29241 |
Success | ||||||||
10:33:47PM |
NASDAQ |
9632.22 |
9525 |
9514.5 |
9479 |
9570 |
9647 |
9667 |
9713 |
9570 |
Success |
10:37:05PM |
JAPAN |
23205 |
Success |