#FTSE #CAC40 “Wrong colour toilet paper purchased for the New York Stock Exchange provokes reversals when the markets opened!” Just once, it’d be nice if the financial press conceded they were clueless as to the reason for a market movement. Trawling through the headlines, the cause may be the Federal Reserve, it may be investors taking profit, perhaps it’s something to do with the US President, or then again, China is enacting a crackdown on US listed firms.
The harsh reality was, the market went down with none of the usual suspects (Bloomberg, Reuters & co) able to identify the cause. It was a bit of a surprise seeing the word ‘Covid’ absent from the usual hysterical reasons, so perhaps we are indeed approaching the brave new post pandemic world. Two pretty major details proved absent from the headlines. Firstly, the S&P 500 achieved another new all time high of 4356.46 points, despite closing Tuesday very slightly down. The Nasdaq did better, achieving both another all-time-high and also closing at a all-time-high end of day price. (14786 if interested).
All this flamboyance actually relates, rather obliquely, to Enquest Plc. Conventional wisdom expects oil company share price movements to reflect movements in the price of crude oil. Given the company operate six fields in the North Sea, the fact Brent Crude is now trading at levels not seen since 2018 appears to have had little effect on the share price. This brings us to something quite curious, a proper surprise from our software.
In the event Enquest share price manages above 23.5p, apparently we should anticipate a return to the 25p – a detail which is painfully obvious. While this fails to provide a useful trading opportunity, we shall be extremely curious should Enquest manage above 25.2p as this will provide a “higher high” since the trend break and hopeful fuel sufficient force for the price to continue upward to 34p. This target level is mildly fascinating, returning the share price to a level not seen since the end of 2018 when the price of Brent Crude was exactly at the current level.
Regular readers may remember a further detail regarding Brent Crude. We’d anticipated some hesitation at the 75 dollar level and the market has obliged for the last few weeks. However, Brent Crude has now made a few lunges slightly above this level, creating a situation where we can expect further increases in the crude oil markets.
Long story short, at present, the balance of small signs point toward optimism for Enquest. We can even calculate an eventual 53p as providing some future hesitation, should the market feel a recovery cycle justified. Given the share is presently trading around 21p, such a price increase would represent a laudable ambition.
Once again, thanks to the folk keeping us in coffee by finding worthwhile adverts on this page. It’s much appreciated.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:41:18PM | BRENT | 74.65 | Success | ||||||||
| 10:43:24PM | GOLD | 1797.38 | Success | ||||||||
| 10:45:54PM | FTSE | 7099.65 | 7087 | 7072 | 7039 | 7116 | 7114 | 7121 | 7136 | 7087 | |
| 10:48:19PM | FRANCE | 6503 | 6480 | 6458 | 6416 | 6513 | 6512 | 6522 | 6536 | 6486 | ‘cess |
| 10:50:37PM | GERMANY | 15494 | Success | ||||||||
| 10:53:01PM | US500 | 4337.37 | Success | ||||||||
| 10:55:07PM | DOW | 34505.8 | Success | ||||||||
| 10:57:13PM | NASDAQ | 14776 | |||||||||
| 10:59:36PM | JAPAN | 28349 | Success |
6/07/2021 FTSE Closed at 7100 points. Change of -0.89%. Total value traded through LSE was: £ 4,579,399,515 a change of 38.26%
5/07/2021 FTSE Closed at 7164 points. Change of 0.58%. Total value traded through LSE was: £ 3,312,078,677 a change of -20.84%
2/07/2021 FTSE Closed at 7123 points. Change of -0.03%. Total value traded through LSE was: £ 4,184,057,082 a change of -10.65%
1/07/2021 FTSE Closed at 7125 points. Change of 1.25%. Total value traded through LSE was: £ 4,682,685,719 a change of -14.48%
30/06/2021 FTSE Closed at 7037 points. Change of -0.71%. Total value traded through LSE was: £ 5,475,559,287 a change of 23.7%
29/06/2021 FTSE Closed at 7087 points. Change of 0.21%. Total value traded through LSE was: £ 4,426,489,456 a change of -5.63%
28/06/2021 FTSE Closed at 7072 points. Change of -0.9%. Total value traded through LSE was: £ 4,690,740,791 a change of -4.03%
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
Click Epic to jump to share: LSE:AVCT Avacta** **LSE:BP. BP PLC** **LSE:EME Empyrean** **LSE:EXPN Experian** **LSE:OXIG Oxford Instruments** **LSE:RMG Royal Mail** **LSE:SBRY Sainsbury** **LSE:SPX Spirax** **LSE:STAN Standard Chartered** **LSE:TSCO Tesco** **LSE:VOD Vodafone** **LSE:ZOL Zoldav** **
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Updated charts published on : Avacta, BP PLC, Empyrean, Experian, Oxford Instruments, Royal Mail, Sainsbury, Spirax, Standard Chartered, Tesco, Vodafone, Zoldav,
LSE:AVCT Avacta Close Mid-Price: 154 Percentage Change: -13.48% Day High: 177.5 Day Low: 151
If Avacta experiences continued weakness below 151, it will invariably le ……..
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View Previous Avacta & Big Picture ***
LSE:BP. BP PLC Close Mid-Price: 310.8 Percentage Change: -4.15% Day High: 328.5 Day Low: 310.25
Weakness on BP PLC below 310.25 will invariably lead to 286 with secondar ……..
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View Previous BP PLC & Big Picture ***
LSE:EME Empyrean. Close Mid-Price: 7.9 Percentage Change: + 11.27% Day High: 7.9 Day Low: 7.1
Target met. In the event of Empyrean enjoying further trades beyond 7.9, ……..
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View Previous Empyrean & Big Picture ***
LSE:EXPN Experian. Close Mid-Price: 2876 Percentage Change: + 1.09% Day High: 2874 Day Low: 2830
In the event of Experian enjoying further trades beyond 2874, the share s ……..
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View Previous Experian & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 2430 Percentage Change: + 2.10% Day High: 2435 Day Low: 2335
Target met. Continued trades against OXIG with a mid-price ABOVE 2435 sho ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:RMG Royal Mail Close Mid-Price: 574 Percentage Change: -0.69% Day High: 584 Day Low: 572
The situation now requires the price above 613 to suggest travel coming to ……..
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View Previous Royal Mail & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 279.8 Percentage Change: + 0.58% Day High: 281.2 Day Low: 277.6
Continued trades against SBRY with a mid-price ABOVE 281.2 should improve ……..
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View Previous Sainsbury & Big Picture ***
LSE:SPX Spirax. Close Mid-Price: 13805 Percentage Change: + 0.58% Day High: 13840 Day Low: 13675
In the event of Spirax enjoying further trades beyond 13840, the share sh ……..
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View Previous Spirax & Big Picture ***
LSE:STAN Standard Chartered Close Mid-Price: 450.9 Percentage Change: -1.85% Day High: 462 Day Low: 450.4
If Standard Chartered experiences continued weakness below 450.4, it will ……..
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View Previous Standard Chartered & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 234.25 Percentage Change: + 1.19% Day High: 236.45 Day Low: 231
In the event of Tesco enjoying further trades beyond 236.45, the share sh ……..
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View Previous Tesco & Big Picture ***
LSE:VOD Vodafone Close Mid-Price: 119.28 Percentage Change: -2.36% Day High: 122.06 Day Low: 119.02
Continued weakness against VOD taking the price below 119.02 calculates a ……..
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View Previous Vodafone & Big Picture ***
LSE:ZOL Zoldav. Close Mid-Price: 43.5 Percentage Change: + 14.47% Day High: 43.5 Day Low: 38
Continued trades against ZOL with a mid-price ABOVE 43.5 should improve t ……..
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View Previous Zoldav & Big Picture ***