#FTSE #Nasdaq We try and limit ourselves to one day a week, when it comes to answering email requests. Thankfully, recently relisted #Stobart feature strongly in requests this week, making the choice easy. Sometimes, we suspect Lynn Bowles of Radio2 Ken Bruce Show fame must shoulder some of the blame for Stobarts decline!
When, after 18 years, Lynn Bowles stopped her traffic reports on Radio 2 in March 2018, a decline of Stobarts share price followed shortly thereafter, a company often mentioned as their drivers seemed to be a great source of her live traffic information. As the chart shows, when the famous banter between Ken Bruce and Lynn Bowles ended, the logistics company share price started a painful downhill road. Rather more probably the market knew better.
Absolute bottom against this share calculates down at 2p, this being the level we cannot calculate below. In fact, some concern will be justified with anything now below 6.8 as this shall be regarded as early warning for a further decline.
Thankfully, it’s easier to be slightly optimistic against the share as there’s a chance last weeks 4.5p following relisting will be deemed “close enough” to bottom to justify a proper bounce. Presently, the share price needs trade above 15p to calculate with an initial recovery target of 22p. If exceeded, our secondary ambition works out at 27p. Unfortunately neither target comes close to covering the gap from 71p, nor troubling the long term Blue downtrend. However, it will be worth watching if the market finds any reason to exceed 27p in the weeks and months ahead. To be blunt, any such movement will tend suggest the drop was overcooked, giving considerable hope the market intends force the price upward again.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:33:52PM |
BRENT |
51.75 |
50.69 |
‘cess | |||||||
10:36:33PM |
GOLD |
1641.59 |
1620 |
Success | |||||||
10:41:04PM |
FTSE |
6626 |
6605 |
6538.5 |
6435 |
6704 |
6723 |
6779.25 |
6804 |
6640 |
‘cess |
10:45:13PM |
FRANCE |
5322 |
‘cess | ||||||||
10:47:33PM |
GERMANY |
11780.18 |
Sorry | ||||||||
10:50:04PM |
US500 |
2991.52 |
Success | ||||||||
11:06:53PM |
DOW |
25808 |
‘cess | ||||||||
11:09:04PM |
NASDAQ |
8531 |
8509 |
8353 |
8137 |
8734 |
8792 |
8837 |
8943 |
8561 |
Shambles |
11:16:53PM |
JAPAN |
20823 |