#Brent #DAX Achieving notoriety, attempting to claim people congregating will not stop Covid-19, was probably ill-advised for the boss of Wetherspoon. Unthinkingly, he put the public in the awful position of agreeing with Piers Morgan, a publicity hungry celeb, who was ridiculing the notion of pubs remaining open.
It did give reason to pause and wonder, just how bad things risk getting for the pub chain which operates nearly 900 outlets. It’s hard to imagine a quick area of diversification for their premises, other than as “pop up” medical care centres! The option of free drinks for those who recover may make it palatable…
All joking aside, Wetherspoons share price isn’t looking terribly healthy at present, a state of affairs likely to continue until such time some clarity is available on how long closures shall last. At time of writing, they’re trading around 700p and it looks like weakness below 616p risks further reversal to an initial 383p. If broken, our secondary “BOTTOM” calculation comes in at 181p.
Unlike other shares, we cannot be coy and toss out a number below 181p. This 181p level represents the number we cannot calculate below without presenting values prefaced with minus signs.
For any miracle to occur with Wetherspoons share price, it requires to actually CLOSE a session above RED on the chart, presently 775p. In the absence of Covid-19 miracles, it feels like this share price is about to face a bit of a hammering.
FTSE – Our daily public glance at the FTSE last week proved popular. We shall probably continue the exercise this week.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
20/03/2020 FTSE Closed at 5190 points. Change of 0.76%. Total value traded through LSE was: £ 13,793,008,167 a change of 30.09%
19/03/2020 FTSE Closed at 5151 points. Change of 1.4%. Total value traded through LSE was: £ 10,602,721,602 a change of 9.14%
18/03/2020 FTSE Closed at 5080 points. Change of -4.04%. Total value traded through LSE was: £ 9,714,451,101 a change of 6.42%
17/03/2020 FTSE Closed at 5294 points. Change of 2.78%. Total value traded through LSE was: £ 9,128,689,221 a change of -13.38%
16/03/2020 FTSE Closed at 5151 points. Change of -4.01%. Total value traded through LSE was: £ 10,538,775,450 a change of -6.31%
13/03/2020 FTSE Closed at 5366 points. Change of 2.46%. Total value traded through LSE was: £ 11,248,883,463 a change of 60.84%
12/03/2020 FTSE Closed at 5237 points. Change of -10.87%. Total value traded through LSE was: £ 6,993,953,766 a change of -24.85%
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