#DOW #Nasdaq Their share code gives a clue who #Liberty are, owners of Formula 1, currently entrusted with trashing what was once a popular event on TV. Believing people will pay to watch advertising moving at 200mph, they ensured TV viewer figures returned to levels not seen since the 1960’s.
Regular readers know we’ve a thing about Formula 1 (or indeed, most sports played without a ball) and are no longer shocked at the short sighted greed exhibited by organisers, an attitude which cost circuits their events, then lost countries their events, and now we’re witnessing a campaign which has minimised global television audiences. When Liberty bought the commercial rights, hopes for the sport remaining available to a mass viewer base were eventually dashed. Drivers are finally starting to complain, doubtless painfully aware they face the day when a driver shall win a World Championship and be less well known than a darts player in their own country.
However… Formula 1 looks like restarting behind closed doors with the share price becoming interesting.
Despite our pretty downcast attitude to Formula 1, Liberty appear to have a share price enjoying some considerable hope for the future. The immediate price cycle looks capable of trades above 35.3 dollars bringing an initial 37 with secondary, if exceeded, a more useful 43.75 dollars. The secondary target level is visually believable, returning the price to the pre-Covid-19 level. We’d be inclined to watch carefully around such a level for signs of the price being manipulated (gapped) upward at the open as this shall tend suggest the market intends explore new highs. If this is indeed the case, we can project a maximum currently at 56 dollars eventually.
If it all goes wrong, the price needs break below Red at 27 presently. This risks extreme danger, taking the share price into a zone where reversal to 13 dollars is possible with secondary, if broken, at an ultimate bottom of 7 dollars.
For now, there’s quite a strong impression of confidence.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:35:20PM |
BRENT |
34.98 |
‘cess |
||||||||
|
9:37:23PM |
GOLD |
1713.38 |
|||||||||
|
9:39:19PM |
FTSE |
6176.47 |
Success |
||||||||
|
9:49:29PM |
FRANCE |
4704.7 |
Success |
||||||||
|
9:51:05PM |
GERMANY |
11743.82 |
Success |
||||||||
|
9:52:41PM |
US500 |
3041.22 |
‘cess |
||||||||
|
9:55:44PM |
DOW |
25591.7 |
25064 |
24965 |
24746 |
25238 |
25625 |
25685 |
25911 |
25345 |
Success |
|
10:03:01PM |
NASDAQ |
9445.6 |
9352 |
9318 |
9273 |
9416 |
9453 |
9480 |
9508 |
9380 |
Success |
|
10:04:44PM |
JAPAN |
21650 |
Success |
27/05/2020 FTSE Closed at 6144 points. Change of 1.27%. Total value traded through LSE was: £ 8,427,394,585 a change of 29.04%
26/05/2020 FTSE Closed at 6067 points. Change of 1.23%. Total value traded through LSE was: £ 6,530,822,409 a change of 28.08%
22/05/2020 FTSE Closed at 5993 points. Change of -0.37%. Total value traded through LSE was: £ 5,099,177,715 a change of -23.47%
21/05/2020 FTSE Closed at 6015 points. Change of -0.86%. Total value traded through LSE was: £ 6,663,000,786 a change of 12.03%
20/05/2020 FTSE Closed at 6067 points. Change of 1.08%. Total value traded through LSE was: £ 5,947,398,391 a change of 10.61%
19/05/2020 FTSE Closed at 6002 points. Change of -0.76%. Total value traded through LSE was: £ 5,376,891,155 a change of -9.59%
18/05/2020 FTSE Closed at 6048 points. Change of -100%. Total value traded through LSE was: £ 5,947,351,021 a change of 0%