Saga Plc for 24/09/2020

#FTSE #DOW It’s been nearly a year since we produced some truly depressing numbers for #Saga’ future share price. (link)  The intervening period has seen the share live down to expectations, hitting and breaking our drop target of 14p. While this number represented an “ultimate” bottom, the period since the March covid-19 drop has produced some further potentials.

 

Unfortunately, none of these potentials are particularly encouraging!

 

The immediate situation is fairly grim, suggesting ongoing weakness below 11p risks reversals to an initial 5.5p and there’s a pretty good argument to hope for some sort of bounce, should such a level make an appearance. With closure below 5.5p, our “ultimate bottom” now works out at 0.25p. Whatever rot established itself for the share price certainly can look further than the pandemic, if seeking to apportion blame as the writing was on the wall for some time before the virus struck. However, there can be little doubt Saga’s target market will doubtless be avoiding congregating with flights and cruises, due to them also being the target market for Covid-19.

Since the start of September something “funny” has been going on with Saga’s share price as it has enjoyed a pretty well managed decline. Presently, the share needs trade above 20p to give hope for a miracle recovery, calculating with the potential of moves to an initial 30p with secondary, if exceeded, a longer term 43p.

We’re not hopeful.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:07:39PM	BRENT	41.91									‘cess
10:09:46PM	GOLD	1863.98									Success
10:11:15PM	FTSE	5864.37	5832	5814.5	5761	5899	5975	5990.5	6021	5907	Success
10:14:16PM	FRANCE	4762									Success
10:27:25PM	GERMANY	12558									Success
10:31:47PM	US500	3240									Shambles
10:34:39PM	DOW	26804	26770	26698	26421	26916	27242	27316.5	27520	27123	‘cess
10:41:17PM	NASDAQ	10824									Sorry
10:43:11PM	JAPAN	23212									Success

23/09/2020 FTSE Closed at 5899 points. Change of 1.2%. Total value traded through LSE was: £ 4,741,814,629 a change of -1.55%

22/09/2020 FTSE Closed at 5829 points. Change of 0.43%. Total value traded through LSE was: £ 4,816,339,128 a change of -8.93%

21/09/2020 FTSE Closed at 5804 points. Change of -3.38%. Total value traded through LSE was: £ 5,288,811,181 a change of -43.99%

18/09/2020 FTSE Closed at 6007 points. Change of -0.69%. Total value traded through LSE was: £ 9,442,217,884 a change of 120.95%

17/09/2020 FTSE Closed at 6049 points. Change of -0.48%. Total value traded through LSE was: £ 4,273,425,233 a change of -23.19%

16/09/2020 FTSE Closed at 6078 points. Change of -0.44%. Total value traded through LSE was: £ 5,563,460,983 a change of 15%

15/09/2020 FTSE Closed at 6105 points. Change of 1.31%. Total value traded through LSE was: £ 4,837,644,674 a change of 35.92%