Faron Pharma (LSE:FARN) 25/02/2020

#Gold #SP500 As we snuffle through the cold & flu season, it was interesting to note those shares which proved resilient, despite market wide hysteria apparently prompted by Coronavirus. We covered #Faron last November (link) and their share price has managed the opposite of catching a cold. Equally fascinating, reading “the common cold” is just one of the grouping covered by the word coronavirus, a respiratory term!

Of course, this means the current outbreak of sniffles in our part of Scotland is now described by schoolchildren as “coronavirus”, wanting face masks and preferably some time off school too…

A quick glance at Faron’s update on 6th Feb gives a potential reason for their current flamboyant share price, the word “coronavirus” popping up in the 3rd paragraph, attracting interest like politicians round a photo opportunity.

From the point at which the share closed (320p), we can calculate 396p as possible on the current cycle with secondary, if exceeded, coming in at 416p. Obviously, the proximity of these numbers tends suggest the potential of some stutters making themselves known. Longer term, we can even calculate 559p as possible but, to be fair, we’re on a bit of a wing and a prayer with such a price level.

Presently, the price needs break Red on the chart to spoil enthusiasm, this innocent line presently at 222p. Moves below risk a challenge of 180p with secondary, if broken, down at 51p.

We mentioned recently the dangers of wild price swings, making stop loss levels almost impossible on flamboyant shares. We need to mention, politely, the unpleasant reality of Faron as the share price is currently trending in a zone with “bottom” at 220p. It will not approach long term safety until the price manages exceed Blue on the chart.

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

10:27:59PM

BRENT

55.74

               

Success

10:36:21PM

GOLD

1660.22

1651

1642

1626

1672

1690

1703.75

1720

1672

Success

10:39:37PM

FTSE

7129

               

Success

10:42:18PM

FRANCE

5754.2

               

Shambles

10:52:42PM

GERMANY

12993

               

Success

10:57:18PM

US500

3228.42

3210

3183

3173

3254

3266

3283.5

3307

3224

Shambles

11:01:21PM

DOW

27975

               

Success

11:05:39PM

NASDAQ

9079.24

               

Shambles

11:09:27PM

JAPAN

22287

               

‘cess

 

24/02/2020 FTSE Closed at 7156 points. Change of -3.34%. Total value traded through LSE was: £ 7,457,826,437 a change of 17.05%

21/02/2020 FTSE Closed at 7403 points. Change of -0.44%. Total value traded through LSE was: £ 6,371,450,688 a change of 1.87%

20/02/2020 FTSE Closed at 7436 points. Change of -0.28%. Total value traded through LSE was: £ 6,254,655,479 a change of 11.64%

19/02/2020 FTSE Closed at 7457 points. Change of 1.29%. Total value traded through LSE was: £ 5,602,530,865 a change of -6.87%

18/02/2020 FTSE Closed at 7362 points. Change of -0.96%. Total value traded through LSE was: £ 6,015,855,072 a change of 44.99%

17/02/2020 FTSE Closed at 7433 points. Change of 0.32%. Total value traded through LSE was: £ 4,149,027,770 a change of -24.37%

14/02/2020 FTSE Closed at 7409 points. Change of -0.58%. Total value traded through LSE was: £ 5,485,879,910 a change of -17.68%

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