Morrison Supermarkets for 15/09/2020

#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.

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
9:45:42PM BRENT 40.03
9:57:54PM GOLD 1956.67 1937 1927 1915 1947 1963 1967.5 1972 1950 Success
10:07:20PM FTSE 6012.15 ‘cess
10:09:10PM FRANCE 5037.7 ‘cess
10:13:56PM GERMANY 13166
10:16:11PM US500 3379 Success
10:17:57PM DOW 27970 27783 27675.5 27535 27900 28092 28183.5 28429 27904 ‘cess
10:19:34PM NASDAQ 11279
10:22:20PM JAPAN 23425 Success

 

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%

This post has already been read 90 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.