IAG aka British Airways 9/03/2020

#Brent #DAX Virus fears certainly appear to be fouling airline share prices but it’s perhaps worth mentioning neither IAG nor EZY are yet trading in a zone where panic makes sense. They’re both certainly pretty close to messy, their prices not yet entering the official “lower low” flight level to misery.

However, we’ve decided it’s probably best not being flippant about Coronavirus. News coverage now pollutes every single section of Google News – World / Local / Sport / Business / Entertainment(?) / Politics, Tech, even Science!

It’s doubtless fair to assume folk will prefer avoid spending any time in flying Petri dishes while panic levels remain high. This will surely create an ongoing income problem for the travel industry, making it easy to believe the drops since February 20th may simple be early warning of trouble. If this proves the case, weakness against IAG below 394p risks proving messy, signalling the risk of further reversal to 334p. If broken, secondary calculates down at 222p.

Despite being a truly shambolic reversal suggestion – a 50% reduction on current – this risks not being the end of the story as “bottom” works out at somewhere between 100 and 138p ultimately.

At present, there is very little point in drawing a trend line to map the pace of reversals. Were we to do so, about the best we could suggest is of moves above 550p signalling the drop has slowed. In reality, any recovery is liable to prove sharp and vivid, if someone announces they’ve knocked together a cure for Covid-19 in their garden shed! But to be fair, we’d tend believe above just 462p will give sufficient early warning for price recovery.

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

6:45:14PM

BRENT

45.56

45.2

43.06

36.56

52

53.8

55.4

58.8

51

Success

7:37:52PM

GOLD

1674.15

               

Shambles

8:09:16PM

FTSE

6457.4

               

Success

8:31:33PM

FRANCE

5139

               

Success

8:34:14PM

GERMANY

11525

11419

11365

11152

11590

11767

11866

12015

11551

Success

8:36:07PM

US500

2964.07

               

Success

9:17:52PM

DOW

25806.6

               

Success

9:20:00PM

NASDAQ

8504.12

               

Success

9:21:51PM

JAPAN

20424

               

Success

 

6/03/2020 FTSE Closed at 6452 points. Change of -3.77%. Total value traded through LSE was: £ 9,320,342,676 a change of 15.12%

5/03/2020 FTSE Closed at 6705 points. Change of -1.61%. Total value traded through LSE was: £ 8,096,440,019 a change of 2.53%

4/03/2020 FTSE Closed at 6815 points. Change of 1.44%. Total value traded through LSE was: £ 7,896,662,173 a change of -10.1%

3/03/2020 FTSE Closed at 6718 points. Change of 0.96%. Total value traded through LSE was: £ 8,783,341,942 a change of -20.21%

2/03/2020 FTSE Closed at 6654 points. Change of 1.12%. Total value traded through LSE was: £ 11,007,742,370 a change of -20.6%

28/02/2020 FTSE Closed at 6580 points. Change of -3.18%. Total value traded through LSE was: £ 13,863,850,185 a change of 59.9%

27/02/2020 FTSE Closed at 6796 points. Change of -3.49%. Total value traded through LSE was: £ 8,670,151,517 a change of 31.45%

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