FTSE for FRIDAY & Twitter too (FTSE:UKX) With the world reeling in shock, due to the Twitter service being “down”, we’re inclined to expect the worst for Friday as Twitters importance cannot be overstated. Except, of course, it’s completely overstated, due to the service being the easiest source of “he said/she said” lazy news for journalists of all hues! Who knows, on Friday reporters will need do actual work if Twitter remains blissfully silent.
A rather more irritating aspect of Twitters failure has been the realisation integrating it with our own website has caused loading issues, the cause of which only became clear with Twitters trip to the dark side. Unable to communicate with Twitter, our own website started to experience dramatic pauses. Thus, it’s goodbye to Twitter – for now.
However, the organisations share price is looking interesting with 51.5 dollars looking possible as a pretty major point of interest next. If bettered, secondary calculates at 58.5 and should the share price ever manage above such a level, price movements risk becoming irrational as we cannot calculate beyond such a level presently. In terms of the long term, “irrational” is a good thing.
FTSE for FRIDAY As for the FTSE, it feels like Friday faces some further reversals due to the point at which the UK market closed on Thursday. The immediate scenario is fairly straightforward as weakness next below 5785 points risks promoting reversal to an initial 5689 points with secondary, if broken, at a bottom around 5604 points. We would hope for a proper rebound, should the secondary make an appearance.
If this reversal scenario triggers, the tightest stop looks like 5835 points.
Alternately, above 5843 (the market closed at 5828) calculates as apparently capable of 5870 points. If exceeded, secondary works out at 5882 points. While these ambitions may look tame, the important detail worth remembering is above 5882 implies bottom is “in” on the current cycle and further gains may be hoped for.
Have a good weekend.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
15/10/2020 FTSE Closed at 5832 points. Change of -1.74%. Total value traded through LSE was: £ 4,796,476,365 a change of -9.92%
14/10/2020 FTSE Closed at 5935 points. Change of -0.57%. Total value traded through LSE was: £ 5,324,546,827 a change of 20.31%
13/10/2020 FTSE Closed at 5969 points. Change of -0.53%. Total value traded through LSE was: £ 4,425,675,316 a change of 16.42%
12/10/2020 FTSE Closed at 6001 points. Change of -0.25%. Total value traded through LSE was: £ 3,801,443,086 a change of -34.7%
9/10/2020 FTSE Closed at 6016 points. Change of 0.64%. Total value traded through LSE was: £ 5,821,685,817 a change of 29.2%
8/10/2020 FTSE Closed at 5978 points. Change of 0.54%. Total value traded through LSE was: £ 4,506,090,091 a change of -9.79%
7/10/2020 FTSE Closed at 5946 points. Change of -0.05%. Total value traded through LSE was: £ 4,994,944,768 a change of 3.84%
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