#Gold #Japan Dog treats are expensive, something Metro Bank needs to be aware of. Their initiative, ‘Free Dog Treats’ until 2nd September hopefully does not reflect on the retail bank share price, especially as neither of our dogs will accept treats from strangers anyway!
Things are certainly not feeling particularly promising for Metro Bank’s share price as movement, anytime soon, below 96p looks perfectly capable of driving reversal to an initial 80p. In itself, this isn’t alarming but our secondary calculation is. In the event the share price manages to break below 80p, continued reversal to a ‘hopeful’ bottom of 60p calculates as possible.
Visually, such a drop target level is quite discouraging, taking the share price to a new all time low and forcing us to clutch at straws, when seeking viable movements which shall promise a logical recovery. The great danger, should 60p make itself known, is this propels the share into a region with an ultimate bottom of 6p, the level below which we cannot calculate.
It’s quite distressing but we’ve little choice but to suggest any price recovery needs to be above 150p before we dare take it seriously as this calculates with an initial 207p. If exceeded, our longer term secondary works out at 263p. At time of writing, the share is trading around the 1 pound mark and we’re perfectly aware our demand the price recovers by 50%, just to tick a positive box in our software, is an absurd requirement. Unfortunately, when dealing with a share price which once was above £40 just over 2 years ago, the bandwidth of movement calculations becomes silly.
The chart below, out of necessity, is based on moves this year. Otherwise, when viewed against a scale which goes up to 40 quid, this years movements look like a flat line in comparison.
For now, Metro looks attractive for dogs but we’re not convinced about investors.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:30:09PM | BRENT | 46.19 | |||||||||
| 9:38:38PM | GOLD | 1953.56 | 1939 | 1935.5 | 1929 | 1949 | 1957 | 1960 | 1974 | 1944 | ‘cess |
| 9:40:39PM | FTSE | 6065 | Shambles | ||||||||
| 9:42:30PM | FRANCE | 5059 | |||||||||
| 9:45:46PM | GERMANY | 13253.67 | |||||||||
| 9:49:50PM | US500 | 3483.72 | Success | ||||||||
| 10:09:44PM | DOW | 28377 | ‘cess | ||||||||
| 10:11:40PM | NASDAQ | 11991.54 | Success | ||||||||
| 10:13:50PM | JAPAN | 23310 | 23156 | 23072.5 | 22953 | 23256 | 23322 | 23373.5 | 23445 | 23228 | Shambles |