#Gold #SP500 Every now and then, we’re asked about a share we’ve never heard of. This lot, based in Boston, USA and a member of the FTSE 250, certainly fitted the bill, justifying a few moments research. Their “About Us” website section proved fairly assuring with the range of companies being financed being wide and potentially quite fruitful in the longer term. To be honest, their portfolio component, a company called Spin Memory introduced a rabbit hole, one of these fascinating “I didn’t know that” moments which led to several hours being wasted absorbing information which shall never be used.
However, by many standards, Allied Minds share price has experienced a pretty vile time sine the heady days of 2015 and a share price above 7 quid. Presently trading around 42p, many investors must be praying for “bottom” but suspecting logic isn’t on their side.
We’re pretty interested in the near term as it appears the share price need only trade above 45p to become useful, this risking triggering a slight recovery to an initial 58p. At this level, things become crucial for the longer term thanks to the confluence of two downtrends in January this year. The Green downtrend dates back to 2015, the Blue downtrend dates from 2017. In January this year, the market gapped the share price down, ensuring the price did not break free from its brutal tumble. A few months later, things changed and we’re now justifiably interested should the share price manage to close above this trend confirming moment earlier this year.
The key number looks like 55p, the share needing to actually close above this level to suggest a longer term growth cycle is commencing.
While we’re hopeful moves above 45p shall bring the price to 58p, if this motion indeed proves capable of allowing the share to close above 55p, we can calculate a secondary recovery target at 90p. Or perhaps even 147p if movement is driven by positive news flow from the company.
If trouble is planned, the price needs retreat below the Blue downtrend, presently 27p. Any nod below this level would justify extreme panic.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:33:30PM | BRENT | 45.18 | |||||||||
| 9:35:30PM | GOLD | 2026.46 | 2019 | 2014.5 | 2003 | 2033 | 2046 | 2054 | 2067 | 2027 | |
| 9:37:35PM | FTSE | 6077 | ‘cess | ||||||||
| 9:50:06PM | FRANCE | 4930 | ‘cess | ||||||||
| 9:52:05PM | GERMANY | 12747 | ‘cess | ||||||||
| 9:54:14PM | US500 | 3359 | 3334 | 3324 | 3311 | 3353 | 3363 | 3371 | 3383 | 3348 | ‘cess |
| 9:57:52PM | DOW | 27785 | Success | ||||||||
| 10:06:51PM | NASDAQ | 11087 | ‘cess | ||||||||
| 10:08:27PM | JAPAN | 22492 | ‘cess |