#France #WallSt Two recent stories standout as frightening in the days of Covid-19. Firstly, news the Scottish Govt intended to ban the sale of alcohol during the crisis (a joke thankfully). Secondly, local council health fascists attempting to define Chocolate Eggs as ‘non-essential’ proved not to be a joke. Thankfully supermarkets quickly opted not to restrict the sale of Easter eggs, doubtless hoping for a buying frenzy. Either story risked igniting public unrest!
Of course, the price of chocolate eggs always verges on theft, especially if you spoil the moment by comparing the actual weight of an Easter egg with a normal bar of chocolate. Very quickly, you start to appreciate there is a bigger area of corporate theft than the price of Epson printer inks! None of this has anything to do with Qinetiq’s share price, other than a reminder the Coronavirus event casts its shadow everywhere. We even had ‘Queenie’ channeling her inner Vera Lynn with her wartime speech, reminding us ‘We’ll Meet Again’. The mention of war did remind us to review Qinetiq, given the companies focus.
At present, the price is trading at 321p and needs below 232p to suggest someone’s noticed you can’t shoot Superflu germs down with a missile. Such a triggering movement risks reversal to an initial 201p, along with a doubtless fake rebound. But should 201p break, the price could easily nosedive down to 136p as a bottom, hopefully. There is a threat below 136p and it’s visually quite absurd.
Apparently, should 136p, our ultimate bottom calculation works out at just 9p! Aside from some exquisite calculations, nothing visually justifies such a result. Hopefully, the low of 2010 shall provide (if any of this scenario triggers) ample excuse for a rebound, somewhere around the 95p level.
This analysis remains part of our “what if it all goes wrong” series. It’s perhaps worth pointing out Qinetiq only need trade above 352p to give some hope for the immediate future. Such a triggering level allows recovery to an initial 393p. If bettered, secondary calculates at a far less likely (in todays environment) of 441p, a new all-time high. Maybe they SHALL design a missile which can shoot down a virus…
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
7/04/2020 FTSE Closed at 5704 points. Change of 2.19%. Total value traded through LSE was: £ 7,941,411,250 a change of 28.33%
6/04/2020 FTSE Closed at 5582 points. Change of 3.08%. Total value traded through LSE was: £ 6,188,185,847 a change of 7.79%
3/04/2020 FTSE Closed at 5415 points. Change of -1.19%. Total value traded through LSE was: £ 5,740,716,351 a change of -13.64%
2/04/2020 FTSE Closed at 5480 points. Change of 0.48%. Total value traded through LSE was: £ 6,647,447,638 a change of -4.67%
1/04/2020 FTSE Closed at 5454 points. Change of -3.83%. Total value traded through LSE was: £ 6,973,403,008 a change of -12.8%
31/03/2020 FTSE Closed at 5671 points. Change of -1.6%. Total value traded through LSE was: £ 7,996,950,957 a change of 37.36%
30/03/2020 FTSE Closed at 5763 points. Change of 4.59%. Total value traded through LSE was: £ 5,821,744,739 a change of -29.22%
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