Frasers & MobilityOne for 23/07/2020

#Gold #Nasdaq A share which, at one point, achieved a 1,200%+ rise in a single day deserves mention. MobilityOne, declining from its high of 57p managed to close the session at 15.5p, up a magnificent 244% from its opening price of 4.5p. This AIM share looks painfully capable of describing “Pump & Dump” characteristics and we’d guess it was perhaps hyped in an internet chatroom.

From looking at the price movement trajectory from noon when it all kicked off, we’d now be alarmed should the price wither below 10p as reversal to 2.8p looks possible. We cannot calculate below such a point. About the only saving grace, if this is indeed the victim of “enthusiastic conversations”, usually a price will once again surge upward while a number of true believers again get excited. The price needs above 23.7 to perhaps justify 33p, then we’d suspect relaxation again. The share now needs trade above 57p to give any sort of hope the movement was based on anything factual.

In this instance, we’re not bothering with a chart. The single day price movement looks as interesting as a long dead tree, alone in a desert of sand.

 

Frasers Group Mr Ashley’s plans to use Frasers to create a “Harrods of the High St” must have taken a fairly solid hit, thanks to Covid-19. The UK government, ignoring his request for alleviation of business rates, certainly isn’t helping any idea of a return to normality with the end of lockdown. The Frasers Group announcement that they shall not be making any rental payments in respect of occupied property until the level of trade reaches the point at which the parties envisaged, when they drew up the lease, also makes quite a lot of sense. All things considered, it’s doubtless not been a fun year for many landlords with retail properties.

Presently trading around 282p, the share needs exceed 290 to give some hope for recovery, allowing an initial 302p with secondary, if exceeded, a trend testing 323p. Visually, achieving the 323p level also comes with a promise of hesitation, due to prior highs.

The share price needs sell itself below 275 to cause alarm as this calculates with a reversal potential at 247p initially with secondary, if broken, down at a bottom (hopefully) of 221p. We suspect it intends 221p before things get better.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:04:42PM BRENT 44.53
10:08:17PM GOLD 1872.15 1846 1841.5 1831 1859 1873 1892 1933 1852 Success
10:10:59PM FTSE 6210.87 Success
10:13:26PM FRANCE 5051.2 ‘cess
10:16:39PM GERMANY 13144 Shambles
10:18:43PM US500 3275.82 ‘cess
10:22:34PM DOW 26995 Success
10:24:16PM NASDAQ 10856 10777 10746.5 10637 10900 10935 10961.5 11023 10800 Shambles
10:26:34PM JAPAN 22772
22/07/2020 FTSE Closed at 6207 points. Change of -0.99%. Total value traded through LSE was: £ 4,760,873,416 a change of -15.1%
21/07/2020 FTSE Closed at 6269 points. Change of 0.13%. Total value traded through LSE was: £ 5,607,940,554 a change of 26.84%
20/07/2020 FTSE Closed at 6261 points. Change of -0.46%. Total value traded through LSE was: £ 4,421,196,230 a change of -0.8%
17/07/2020 FTSE Closed at 6290 points. Change of 0.64%. Total value traded through LSE was: £ 4,456,693,938 a change of 6.54%
16/07/2020 FTSE Closed at 6250 points. Change of -0.67%. Total value traded through LSE was: £ 4,183,257,766 a change of -22.26%
15/07/2020 FTSE Closed at 6292 points. Change of 1.83%. Total value traded through LSE was: £ 5,380,801,480 a change of 18.89%
14/07/2020 FTSE Closed at 6179 points. Change of 0.05%. Total value traded through LSE was: £ 4,525,816,471 a change of 16.23%

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