Steinhoff Int. Holdings, a secret giant?

#FTSE #SP500

We finally remembered to take a glance at the German market again, hoping to find a share worthy of some examination. There are numerous facilities on the internet, giving lists of the most active shares on markets. For Germany, Steinhoff topped the list, even meriting a “Strong Buy” rating though we’re not familiar with the process used for such a definition.

The company, Steinhoff International, are a South African/German/Dutch company with listings SA and Germany. They deal mainly in furniture and household goods, operating worldwide and a trawl of the corporate website was surprising, insofar as we’d never heard of the company despite their massive presence. Then again, here in the UK, we notice the company ‘Poundland’ are one of their subsidiaries, literally the only company name we recognised from UK high streets. Perhaps our island is simply too small to deserve notice.

 

Something quite peculiar happened the other day with Steinhoff share price. Just after 2pm on Monday, it was spiked down to 0.06 Euro, recovering within half an hour and is presently trading around 0.215 Euro. Over the years, we’ve learned to pay attention to spikes are they can easily be used by the markets to generate movement of some strength. However, our favourite flavour of spikes generally take place at the market open, rather than half way through the trading day. With the aggressive nature of this particular drop and recovery, even if it was simply a “fat finger” moment, we suspect the market shall doubtless use the added bandwidth to provide some future gains.

As the chart below highlights, the drop on Monday, while taking the price momentarily below the Blue downtrend, saw the share close in an area of safety. It’s easy to feel sorry for the folk who thought their ‘Stop Loss’ level was safe, tucked discreetly below a 3 year old trend.

As a result, movement next exceeding 0.24 Euro looks very capable of producing recovery toward an initial 0.30 Euro. If bettered, our longer term calculation gives 0.46 as a reasonable ambition sometime in the future.

Hey, chart goes here

Trends and Targets. Past performance is not a reliable indicator of future results.

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:57:21PM BRENT 72.46 ‘cess
9:59:48PM GOLD 1789.42 ‘cess
10:04:40PM FTSE 7085.56 7065 7053 7028 7106 7133 7160 7195 7087 Success
10:06:37PM FRANCE 6663.5 Success
10:08:55PM GERMANY 15615.3 Success
10:22:52PM US500 4513.17 4505 4500.5 4484 4521 4522 4528 4540 4504 Success
10:25:30PM DOW 35029 Success
10:28:00PM NASDAQ 15611 Success
10:29:48PM JAPAN 29959 ‘cess
8/09/2021 FTSE Closed at 7095 points. Change of -0.76%. Total value traded through LSE was: £ 5,249,791,565 a change of 12.94%
7/09/2021 FTSE Closed at 7149 points. Change of -0.53%. Total value traded through LSE was: £ 4,648,354,855 a change of 42.06%
6/09/2021 FTSE Closed at 7187 points. Change of 0.69%. Total value traded through LSE was: £ 3,272,196,059 a change of -29.07%
3/09/2021 FTSE Closed at 7138 points. Change of -0.35%. Total value traded through LSE was: £ 4,613,097,281 a change of 1%
2/09/2021 FTSE Closed at 7163 points. Change of 0.2%. Total value traded through LSE was: £ 4,567,320,494 a change of -8.51%
1/09/2021 FTSE Closed at 7149 points. Change of 0.42%. Total value traded through LSE was: £ 4,992,272,040 a change of -31.13%
31/08/2021 FTSE Closed at 7119 points. Change of -100%. Total value traded through LSE was: £ 7,249,282,364 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

Click Epic to jump to share: LSE:ASC Asos** **LSE:BDEV Barrett Devs** **LSE:CEY Centamin** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:IQE IQE** **LSE:LLOY Lloyds Grp.** **LSE:QFI Quadrise** **LSE:VEC Vectura** **

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Updated charts published on : Asos, Barrett Devs, Centamin, HSBC, British Airways, IQE, Lloyds Grp., Quadrise, Vectura,

LSE:ASC Asos Close Mid-Price: 3350 Percentage Change: -3.54% Day High: 3438 Day Low: 3302

Target met. In the event Asos experiences weakness below 3302 it calculat ……..

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LSE:BDEV Barrett Devs Close Mid-Price: 684.2 Percentage Change: -3.44% Day High: 704.4 Day Low: 686.8

If Barrett Devs experiences continued weakness below 686.8, it will invar ……..

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LSE:CEY Centamin Close Mid-Price: 94.16 Percentage Change: -0.99% Day High: 95.48 Day Low: 94

In the event Centamin experiences weakness below 94 it calculates with a ……..

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LSE:HSBA HSBC Close Mid-Price: 380.55 Percentage Change: -0.51% Day High: 381.75 Day Low: 375.65

Target met. In the event HSBC experiences weakness below 375.65 it calcul ……..

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LSE:IAG British Airways Close Mid-Price: 153.1 Percentage Change: -1.14% Day High: 159.54 Day Low: 152.5

Target met. Continued weakness against IAG taking the price below 152.5 c ……..

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LSE:IQE IQE Close Mid-Price: 43.7 Percentage Change: -5.00% Day High: 46.6 Day Low: 43.5

In the event IQE experiences weakness below 43.5 it calculates with a dro ……..

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LSE:LLOY Lloyds Grp. Close Mid-Price: 42.41 Percentage Change: -1.95% Day High: 42.92 Day Low: 42.25

Weakness on Lloyds Grp. below 42.25 will invariably lead to 3 promoting r ……..

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LSE:QFI Quadrise Close Mid-Price: 4 Percentage Change: -0.37% Day High: 4.01 Day Low: 4

In the event of Quadrise enjoying further trades beyond 4.5p, the share sh ……..

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LSE:VEC Vectura. Close Mid-Price: 163.8 Percentage Change: + 0.00% Day High: 164 Day Low: 163.8

Currently painfully slow, movement next above 167p should aim for an initi ……..

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*** End of “Updated Today” comments on shares.

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