#Gold #Dax Just over a year ago, we reviewed Dixons, finding it unlikely the share would reach our calculated drop target of 55p. Needless to say, in the March Covid event, Dixons managed to hit 53.5p, bouncing fairly convincingly in the period since and now trading at 115p with a high this year at a fairly uninspiring 130p. Their share price has enacted a strange movement, potentially the harbinger of trouble again ahead.
We’re mildly curious as to what to expect, when companies such as this with a mix of High St retail, along with an online presence, and also, their Dixons Travel arm will report, when the full effects of Lockdowns leak through to the full year earnings report and audited results. In the case of Dixons, their behaviour has been fairly ethical with management variously taking salary cuts and waiving bonuses. In addition, the company suspended the dividend. The recent interim results proved surprising, reporting increased performance on Electricals despite stores being shut for substantial periods and generally surprisingly confident.
We don’t “get” why the share price, boosted above the immediate downtrend thanks to their interim results, has now been driven back below the trend. Our fear of the notorious Gap Up/Gap Down ploy by the markets is somewhat diluted, thanks to the movement below the trend being the result of trading as opposed to the market manipulating the price before trading commences. It’s still not an encouraging situation, suggesting ongoing weakness below 103p risks continued reversal to an initial 90p with secondary, when broken, at a bottom (and a bounce?) of 60p.
Of course, the share price has obviously sent a mixed message signal of impending calamity, managing to mimic UK Govt ministers who increasingly appear clueless as to what’s actually happening. It’s surely only a matter of time before they start blaming a previous administration for the current mess, one entirely of their own making. Dropping the ball would only be apt, had the current administration even been aware WHAT a ball actually was. It’s difficult to escape the humour, when tradition cheerleaders for the current Govt (Mail, Telegraph, BBC) are also starting to ridicule, finally, our utterly ridiculous leadership.
While writing this, readers should be aware tomorrow (22nd December) is now Faux Christmas with family visiting, presents exchanged, and of course dinner along with adequate lubrication. Thanks to travel restrictions from 26th December, it was to be impossible to host grandchildren not seen since last year. Instead, the monsters are staying, returning home on Thursday. Mentally, I doubt anyone was in the correct gear for an emergency Xmas day! A grudge is now held against the Govt for their panic, last minute, behaviour.
For Dixons to present hope for the future, the share needs exceed 130p and this calculates as capable of an initial 142p with secondary, if exceeded, up at 163p and almost certain hesitation.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:32:04PM | BRENT | 50.95 | 49.8 | 49.245 | 48.17 | 50.72 | 51.13 | 51.32 | 52.02 | 50.34 | Success |
| 10:34:28PM | GOLD | 1877.32 | 1870 | 1862.5 | 1848 | 1886 | 1893 | 1902 | 1918 | 1877 | Success |
| 10:45:22PM | FTSE | 6431 | 6384 | 6312 | 6202 | 6474 | 6477 | 6526 | 6598 | 6361 | Success |
| 10:47:59PM | FRANCE | 5437 | 5367 | 5347.5 | 5258 | 5415 | 5444 | 5479 | 5540 | 5398 | Success |
| 10:50:49PM | GERMANY | 13362 | 13175 | 13008 | 12837 | 13387 | 13444 | 13575.5 | 13755 | 13370 | Success |
| 10:54:07PM | US500 | 3692 | 3630 | 3598 | 3554 | 3678 | 3706 | 3713.5 | 3751 | 3683 | Success |
| 10:57:51PM | DOW | 30214 | 30060 | 29910 | 29778 | 30244 | 30308 | 30390.5 | 30714 | 30107 | Success |
| 11:00:34PM | NASDAQ | 12709 | 12564 | 12446 | 12331 | 12654 | 12709 | 12754.5 | 12853 | 12625 | Success |
| 11:03:58PM | JAPAN | 26540 | 26202 | 26161 | 25903 | 26408 | 26709 | 26821.5 | 27028 | 26500 | Success |
21/12/2020 FTSE Closed at 5393 points. Change of -17.4%. Total value traded through LSE was: £ 6,586,656,478 a change of -30.25%
18/12/2020 FTSE Closed at 6529 points. Change of -0.34%. Total value traded through LSE was: £ 9,442,789,780 a change of 73.6%
17/12/2020 FTSE Closed at 6551 points. Change of -0.29%. Total value traded through LSE was: £ 5,439,357,090 a change of -30.57%
16/12/2020 FTSE Closed at 6570 points. Change of 0.88%. Total value traded through LSE was: £ 7,834,302,099 a change of 42.32%
15/12/2020 FTSE Closed at 6513 points. Change of -0.28%. Total value traded through LSE was: £ 5,504,806,685 a change of -17.61%
14/12/2020 FTSE Closed at 6531 points. Change of -0.23%. Total value traded through LSE was: £ 6,681,528,209 a change of 9.32%
11/12/2020 FTSE Closed at 6546 points. Change of -0.8%. Total value traded through LSE was: £ 6,112,009,870 a change of -15.57%
