#Brent #Dax We’ve had emails regarding this lot. With lockdown easing by varying amounts in different parts of the UK, it’s easy to wonder if the “buzz” over Covid-19 shares like #Omega shall diminish. Social media is awash with warnings about a 2nd wave but it’s certain a virus will not pay any attention to gossip.
Against Omega Diagnostics, from reading the company CV, they appear most emphatically not a flash in the pan organisation and instead, read like a company with many strings to their bow. However, there’s little doubt the most recent surge in share price has been entirely Coronavirus related with the risk should interest in the disease diminish, so shall this share price.
The good news, for what it’s worth, is we can now calculate a maximum price potential at 93p and cannot compute anything higher. This does not mean the price cannot go higher, just that we’ve run out of logic. If the market intends drive the price higher, it shall be worth keeping an eye on the price at the open in the days ahead. Should the stock market start “gapping” Omega up at the open, this will generally prove a pretty solid signal the market intends value it higher than 93p eventually.
However, we’re more concerned with price movements since it reached a recent high of 91p. The levels of reversal experienced since this high bother us and now weakness below 59p risks driving reversal to 49p and hopefully a rebound. Any rebound which proves capable of returning the price above Red on the chart shall probably prove “real” rather than a short term hope.
In the event the 49p level breaks on an initial surge downward, our secondary calculation comes in at 28p. If achieved, we would hope for a real bounce at the 28p level. Unusually we can work out an ultimate bottom of 6.5p for this, a scenario which would suggest the entire Covid-19 business has simply been a “pump and dump” excuse for price movements. We’d hope this can be discounted as nonsense, if only due to the UK’s world beating record of fatalities.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:17:40PM |
BRENT |
37.7 |
34.8 |
34.24 |
32.92 |
36.4 |
38.2 |
38.905 |
40.59 |
36.95 |
Success |
|
9:20:34PM |
GOLD |
1730 |
Success |
||||||||
|
11:30:41AM |
FTSE |
6120.94 |
‘cess |
||||||||
|
11:36:56AM |
FRANCE |
4723 |
|||||||||
|
11:51:00AM |
GERMANY |
11735 |
11637 |
11614.5 |
11574 |
11688 |
11749 |
11829 |
11933 |
11636 |
Success |
|
11:53:07AM |
US500 |
3060.52 |
|
2970 |
2940 |
3031 |
3061 |
3070.25 |
3081 |
3032 |
‘cess |
|
11:55:03AM |
DOW |
25517 |
25321 |
25252 |
25160 |
25426 |
25528 |
25643 |
25850 |
25320 |
Success |
|
11:57:08AM |
NASDAQ |
9592.37 |
9494 |
9482 |
9445 |
9550 |
9593 |
9614 |
9640 |
9496 |
Success |
|
11:59:19AM |
JAPAN |
22026 |
21870 |
21810.5 |
21737 |
91956 |
22030 |
22104.5 |
22256 |
21870 |
‘cess |
29/05/2020 FTSE Closed at 6076 points. Change of -2.28%. Total value traded through LSE was: £ 11,874,374,361 a change of 71.67%
28/05/2020 FTSE Closed at 6218 points. Change of 1.2%. Total value traded through LSE was: £ 6,916,892,220 a change of -17.92%
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% 