#Nasdaq #France Kimberly-Clark, owners of Andrex (the UK’s favourite toilet paper), must be laughing all the way to the loo, given UK public’ behaviour in response to CoronaVirus. Unsurprisingly, it looks like it shall need more than this countries irrational behaviour to save NYSE:KMB from being flushed. But first, some bumf.
It transpires the term “bumf” dates back to Victorian times, the word shortened from its original “bumfodder”. Which was the original name for toilet tissue. Thankfully, the word hasn’t strayed far from its roots, thanks to the vast levels of bumf received prior to the UK’s recent general election, materials still used to light the log fire!
As for Kimberly-Clark share price, it looks like weakness now below 131 should drive reversal to an initial 125 dollars. If (when) broken, we suspect it shall bottom at 105 dollars and hopefully rebound.
France, the CAC40, is looks a bit fraught. We last covered it in August 2019, giving criteria for reversal to 4728 points. It finally triggered reversal at the end of February and since has been pretty much as expected, if rather fast. The index has now closed 3 sessions solidly below target, so we must dwell of downward potentials for the future.
The immediate situation is fairly blunt, the index requiring above 4990 points just to regain the prior uptrend… With the strength of downward commitment, we have our doubts. Instead, it appears weakness now below 4600 should bring reversal to an initial 4533. We’d hope for a real rebound at such a level as the implication below is quite dreadful. The secondary calculation comes in at 4358 points, taking the market to a “lower low” (yes, we’re getting fed up writing this) and placing the French index at risk of continuing downhill in the longer term to a bottom of 3094 points.
Of course, given the pace of recent reversals, “the longer term” could easily mean sometime next week!
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
9:39:34PM |
BRENT |
36.27 |
‘cess | ||||||||
9:43:29PM |
GOLD |
1635.49 |
Shambles | ||||||||
9:46:29PM |
FTSE |
5810.02 |
Success | ||||||||
9:55:10PM |
FRANCE |
4548.8 |
4506 |
4449.5 |
4291 |
4576 |
4630 |
4646 |
4674 |
4570 |
‘cess |
10:22:49PM |
GERMANY |
10287 | |||||||||
10:26:15PM |
US500 |
2763 | |||||||||
10:29:29PM |
DOW |
23740 |
‘cess | ||||||||
10:32:13PM |
NASDAQ |
8096 |
7900 |
7797 |
7577 |
8130 |
8231 |
8281.5 |
8383 |
8072 | |
10:34:50PM |
JAPAN |
19265 |
18919 |
18852.5 |
18440 |
19220 |
19696 |
19974 |
20322 |
19396 |