#FTSE #CAC40 Fairytales used to start with the sentence; “Once Upon A Time” but nowadays, it appears; “If I Am Elected…” is more descriptive. Many shares appear to have suffered pain from the Brexit decision with Tesco a fully paid up member of the fraternity. As the chart below highlights, since the 2016 Brexit vote the share price has stagnated but we’re perhaps seeing early signs things may be about to change, hopefully for the better.
Unfortunately, Tesco are not currently showing early signs of immediate hope but when we glance at the encompassing Food & Drug Retailers Index, there’s a pretty strong impression given for some imminent gains amongst its members. Thanks to a revamp of sector codes and data in the middle of March, there’s a slight danger of reading the tea leaves incorrectly but we’re hopeful this shall not be the case. Long story short, we can argue for sector gains of around 10% anytime soon. If we opt to embrace our “inner gullible”, we should also advocate longer term gains of around 25%, taking the sector to highs not seen since 2008.
The long and the short of this particular fairy story is we suggest keeping an eye on Tesco share price.
Presently trading around 232p, the share need only exceed 237p to regain clear air above Blue, a downtrend which dates back 10 years. This should prove fairly significant, calculating with the potential of near term gains in the direction of 242p. Usually, regaining a position above a prior downtrend will prove important, allowing a share price to blossom quite firmly. In the case of Tesco, only with closure above 242p shall be feel justified in promoting the concept of future gains in the direction of 295p. Arithmetically, there are plenty of reasons to anticipate some hesitation as the price makes its way up the aisle.
When we look for viable warning signs for things going wrong with Tesco, it appears the share now needs trade below 218p to cause a slight flutter in our confidence. A triggering movement such as this threatens reversal toward 190p and hopefully a rebound. The consequences below such a level are far from pleasant. If opting to take a “Fire & Forget” Long position, somewhere just below 218p would currently make an excellent stop loss level.
***Yet again, many thanks to those folk who find the adverts on this page irresistible.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:55:04PM | BRENT | 63.81 | |||||||||
| 9:56:42PM | GOLD | 1745.69 | Shambles | ||||||||
| 10:17:03PM | FTSE | 6897.94 | 6851 | 6829 | 6802 | 6891 | 6897 | 6911.5 | 6930 | 6877 | |
| 10:19:40PM | FRANCE | 6212 | 6157 | 6139.5 | 6114 | 6184 | 6216 | 6221.5 | 6231 | 6195 | Shambles |
| 10:22:02PM | GERMANY | 15257 | ‘cess | ||||||||
| 10:23:53PM | US500 | 4141.77 | Success | ||||||||
| 10:26:28PM | DOW | 33689 | ‘cess | ||||||||
| 10:37:51PM | NASDAQ | 13983 | Success | ||||||||
| 10:39:34PM | JAPAN | 29804 |
13/04/2021 FTSE Closed at 6890 points. Change of 0.01%. Total value traded through LSE was: £ 5,082,010,354 a change of 5.4%
12/04/2021 FTSE Closed at 6889 points. Change of -0.38%. Total value traded through LSE was: £ 4,821,423,252 a change of -22.92%
9/04/2021 FTSE Closed at 6915 points. Change of -0.39%. Total value traded through LSE was: £ 6,255,086,151 a change of 4.29%
8/04/2021 FTSE Closed at 6942 points. Change of 0.83%. Total value traded through LSE was: £ 5,997,557,402 a change of 4.89%
7/04/2021 FTSE Closed at 6885 points. Change of 0.91%. Total value traded through LSE was: £ 5,718,153,456 a change of -8.18%
6/04/2021 FTSE Closed at 6823 points. Change of -100%. Total value traded through LSE was: £ 6,227,431,623 a change of 0%
1/04/2021 FTSE Closed at 6737 points. Change of 0%. Total value traded through LSE was: £ 4,951,625,470 a change of 0%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
The Arrow icons refer to expected Big Picture direction. No Arrow, No clue!
Click Epic to jump to share: LSE:CBX Cellular Goods** **LSE:IGAS Igas Energy** **LSE:IPF International Personal Finance** **LSE:LLOY Lloyds Grp.** **LSE:MKS Marks and Spencer** **LSE:QFI Quadrise** **LSE:WTG Watchstone** **
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Updated charts published on : Cellular Goods, Igas Energy, International Personal Finance, Lloyds Grp., Marks and Spencer, Quadrise, Watchstone,
LSE:CBX Cellular Goods Close Mid-Price: 8.6 Percentage Change: -4.44% Day High: 9.01 Day Low: 8.28
Target met. Continued weakness against CBX taking the price below 8.28 ca ……..
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View Previous Cellular Goods & Big Picture ***
LSE:IGAS Igas Energy Close Mid-Price: 24.15 Percentage Change: -1.43% Day High: 24 Day Low: 23.8
In the event Igas Energy experiences weakness below 23.8 it calculates wi ……..
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View Previous Igas Energy & Big Picture ***
LSE:IPFLSE:IPF International Personal Finance. Close Mid-Price: 123.8 Percentage Change: + 3.86% Day High: 121.4 Day Low: 116.4
Target met. In the event of International Personal Finance enjoying furth ……..
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View Previous International Personal Finance & Big Picture ***
LSE:LLOY Lloyds Grp. Close Mid-Price: 43.75 Percentage Change: -1.44% Day High: 45.02 Day Low: 43.67
All Lloyds Grp. needs are mid-price trades ABOVE 45.02 to improve acceler ……..
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View Previous Lloyds Grp. & Big Picture ***
LSE:MKSLSE:MKS Marks and Spencer. Close Mid-Price: 157.2 Percentage Change: + 1.52% Day High: 159.55 Day Low: 154.5
This appears almost ready to start moving^. Above 160p suggests coming gro ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:QFILSE:QFI Quadrise. Close Mid-Price: 3.44 Percentage Change: + 1.93% Day High: 3.47 Day Low: 3.39
This is about as close to “sure thing” as it gets, so much so it’s a worry ……..
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View Previous Quadrise & Big Picture ***
LSE:WTG Watchstone Close Mid-Price: 56.3 Percentage Change: -0.35% Day High: 56 Day Low: 54
If Watchstone experiences continued weakness below 54, it will invariably ……..
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View Previous Watchstone & Big Picture ***