#FTSE #Japan Airline price movements often make as much sense as UK politicians talking about Covid-19 rules. #Easyjet, the subject of frequent media speculation, enjoy a share price which is wandering around with similar levels of control to a chimp flying a Sopwith Camel. Essentially, things feel they will not end well. In the case of Easyjet, a “glass floor” has formed on the share price, one we feel shall crack!
The problem level appears to be at 477p with price movement below such a level risking triggering some quite traumatic falls. Since the March pandemic price drop, Easyjet has failed regain any of the damage, instead maintaining a holding pattern around the 477p level. The immediate situation is dangerous as weakness below 477p indicates coming price reversals down to an initial 419p with secondary, if (when) broken at 353p and perhaps a bounce.
However, should the share price opt to visit the 353p level, it enters the dark lands of “lower lows”. In such a region, the wrong sort of publicity could sharply propel the share down to a bottom of 117p and this is obviously a concern, since it’s unlikely airlines shall publish promising financial or passenger numbers for this dreadful year. Visually a visit to 117p makes little sense as the last time this company saw such a price level was 16 years ago!
We cannot calculate below 117p.
If we chose to search for movements which shall hopefully indicate some price recovery, the earliest hint of sanity resides at 540p as movement above such a level suggests price recovery to a pretty tame looking 598p. If exceeded, our secondary calculates at 718p and with closure above such a level, things start to look promising for the future. To get real, we’d require run analysis again at such a point but the 11 quid level looks easily attainable.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:29:09PM | BRENT | 41.37 | Success | ||||||||
| 10:32:13PM | GOLD | 1897.81 | ‘cess | ||||||||
| 10:34:18PM | FTSE | 5898.5 | 5881 | 5870 | 5840 | 5912 | 5926 | 5944 | 5972 | 5883 | Success |
| 10:36:06PM | FRANCE | 4825.2 | |||||||||
| 10:37:58PM | GERMANY | 12830 | |||||||||
| 10:49:22PM | US500 | 3338 | |||||||||
| 10:51:38PM | DOW | 27498 | |||||||||
| 10:53:43PM | NASDAQ | 11333 | |||||||||
| 10:55:53PM | JAPAN | 23419 | 23332 | 23298.5 | 23199 | 23481 | 23597 | 23635 | 23714 | 23454 | ‘cess |