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.

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
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%

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