#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.
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 |