#Gold #DOW Our previous analysis on #Morrisons in February, our sadly missed favourite croissant supplier, proved quite prescient, the share price indeed making a surge down to 165p. A new diet, however, ensured the morning treat of two croissant and latte has forever vanished.
There’s nothing like substantial weight loss (without effort) to convert a confirmed fad diet sceptic into a true believer but, for me, this Keto diet has been revolutionary. Except, unfortunately, for chips, a delicacy sorely missed due to potatoes being a big “no no”. Ditching sugar was easy, ditching rice was easy, but chips (of all things) are tending to present an issue. Which is quite strange, because they were never a major part of the diet before this Keto lifestyle. But tonight, dinner was steak, mushrooms, green beans, and a pepper sauce. The only thing missing? Chips to dip into the sauce!
The big question, will Morrison Supermarkets survive our household no longer buying croissants, sugar, and the odd bag of chips?
It’s interesting to note their share price movements are suddenly doing something quite odd. The price successfully broke above the Blue downtrend since 2018 and has now reversed below the trend. This is not an encouraging signal for a share, too often representing a “gotcha suckers” pattern by the market. About the only nice thing we can suggest is, should the share next make it above 200p, the previous high, we’d expect it to recover extremely swiftly with 213p as an initial ambition with secondary, if bettered, at 249p.
However, the sharp price reversal below the Blue downtrend usually signals the worst, implying the prior trend is influencing matters and suggesting weakness next below 177p risks an attempt at a visually unsettling 152p. If broken, bottom calculates at 137p and hopefully a proper rebound for future recovery.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
14/09/2020 FTSE Closed at 6026 points. Change of -0.1%. Total value traded through LSE was: £ 3,559,218,269 a change of 1.56%
11/09/2020 FTSE Closed at 6032 points. Change of 0.48%. Total value traded through LSE was: £ 3,504,460,601 a change of -8.69%
10/09/2020 FTSE Closed at 6003 points. Change of -0.15%. Total value traded through LSE was: £ 3,837,937,083 a change of -13.67%
9/09/2020 FTSE Closed at 6012 points. Change of 1.38%. Total value traded through LSE was: £ 4,445,872,932 a change of -0.63%
8/09/2020 FTSE Closed at 5930 points. Change of -0.12%. Total value traded through LSE was: £ 4,474,047,176 a change of 45.17%
7/09/2020 FTSE Closed at 5937 points. Change of 2.38%. Total value traded through LSE was: £ 3,081,866,920 a change of -35.14%
4/09/2020 FTSE Closed at 5799 points. Change of -0.87%. Total value traded through LSE was: £ 4,751,494,897 a change of 11.8%
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