#FTSE #WallSt We tend make a mental correlation between the price of Brent Crude and the success of oil company shares. It’s perhaps worth remembering, when Brent Crude was touching $130 back in 2012, BP was trading around 490p. Currently at 336p, we’re far from convinced the current surge in energy prices shall prove to force a significant effect on BP’s share price. Realistically, since the company share was given a sound thrashing, due to the Gulf of Mexico leak, it has often felt the 500p level has been designated as BP’s natural level!
Over the years since, any attempt at a solid upward break beyond 500p has tended to end in tears. And presently, despite petrol retail doubtless being a minor part of corporate activities, the market shall probably not be terribly amused with closed filling stations. These are, after all, the companies shop window and surely questions will be asked about a supply network incapable of supplying itself. Despite all the faux Brexit drama, the current situation should not have come as a surprise? We would expect the corporate types would have realised fuel demand would increase, with lockdown easing and people grudgingly returning to work in offices. Doubtless, in real life, employees will be more concerned with ensuring someone else is to blame with an obscene corporate parody of ‘Yes, Minister’.
Unfortunately, we’ve considerable historical personal experience with BP retail (and fond memories of some brilliant staff) and were not surprised at the situation. But were slightly impressed with the availability of professional “Pumps Closed, the team are urgently addressing the situation” signs across forecourts. It’s a welcome change from the traditional sheet of A4 paper and tape, a black felt pen scrawled word “Empty” on each pump.
For now, the immediate visuals on BP certainly justify some hope for some gains in the share price. On Tuesday, the company closed at the highest level of this year, giving a faint chance the price intends a cycle toward its high, pre-pandemic. Such an ambition demands a plan to grow to 450p. At time of writing, the share is trading around 336p, needing above just 344p to aim for near term movement to a boring 352p. To be honest, we’re probably wiser, if we treat 352p as a real trigger level. Above this point calculates with the chance of an initial 382p.
Such a level is pretty crucial, returning BP’s share price above the thick Red trend line which dates back 30 years.
Our longer term secondary is a big less confident, thanks to the circled gap throwing a spanner in our calculations. Depending on how we treat this manipulation gap, it works out at 430p but, could easily prove to be 455p. For this reason, we really dislike price gaps such as this as they define a period where there was no trading, yet the value of the share changed. Over the years, we’ve discovered the easiest way to manage the vagueness is to be honest, it being pretty difficult to extrapolate numbers from literally nothing!
For everything to go wrong, BP needs close a session below 318p. Movement such as this would require us to stir the tea leaves, quite sternly, again.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:32:58PM | BRENT | 77.57 | Success | ||||||||
| 10:41:36PM | GOLD | 1734.29 | Success | ||||||||
| 10:44:30PM | FTSE | 7029.77 | 7007 | 6991 | 6944 | 7050 | 7052 | 7087 | 7138 | 7007 | ‘cess |
| 10:47:19PM | FRANCE | 6510.5 | Success | ||||||||
| 10:50:24PM | GERMANY | 15300 | Success | ||||||||
| 10:53:19PM | US500 | 4357.57 | Success | ||||||||
| 10:56:54PM | DOW | 34336 | 34250 | 34095 | 33721 | 34455 | 34576 | 34656 | 34792 | 34390 | Success |
| 10:59:34PM | NASDAQ | 14774 | Success | ||||||||
| 11:03:31PM | JAPAN | 29708 | Success |
Success
28/09/2021 FTSE Closed at 7028 points. Change of -0.5%. Total value traded through LSE was: £ 7,157,189,596 a change of 15.93%
27/09/2021 FTSE Closed at 7063 points. Change of 0.17%. Total value traded through LSE was: £ 6,173,668,955 a change of 22.77%
24/09/2021 FTSE Closed at 7051 points. Change of -0.38%. Total value traded through LSE was: £ 5,028,502,526 a change of -6.23%
23/09/2021 FTSE Closed at 7078 points. Change of -0.07%. Total value traded through LSE was: £ 5,362,462,206 a change of 4.68%
22/09/2021 FTSE Closed at 7083 points. Change of 1.48%. Total value traded through LSE was: £ 5,122,671,663 a change of -18.56%
21/09/2021 FTSE Closed at 6980 points. Change of 1.12%. Total value traded through LSE was: £ 6,290,005,050 a change of -2.8%
20/09/2021 FTSE Closed at 6903 points. Change of -0.86%. Total value traded through LSE was: £ 6,471,386,958 a change of -56.78%
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:BBY BALFOUR BEATTY** **LSE:BDEV Barrett Devs** **LSE:BP. BP PLC** **LSE:CAR Carclo** **LSE:CPI Capita** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:HUR Hurrican Energy** **LSE:IGG IG Group** **LSE:ITRK Intertek** **LSE:NG. National Glib** **LSE:NWG Natwest** **LSE:PHP Primary Health** **LSE:PMG Parkmead** **LSE:POLY Polymetal** **LSE:SPX Spirax** **
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Updated charts published on : BALFOUR BEATTY, Barrett Devs, BP PLC, Carclo, Capita, Gulf Keystone, Glencore Xstra, Hurrican Energy, IG Group, Intertek, National Glib, Natwest, Primary Health, Parkmead, Polymetal, Spirax,
LSE:BBY BALFOUR BEATTY Close Mid-Price: 272.2 Percentage Change: -1.45% Day High: 284.2 Day Low: 271.8
Target met. In the event BALFOUR BEATTY experiences weakness below 271.8 ……..
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LSE:BDEV Barrett Devs Close Mid-Price: 666.2 Percentage Change: -2.74% Day High: 687 Day Low: 664.8
If Barrett Devs experiences continued weakness below 664.8, it will invar ……..
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LSE:BP. BP PLC. Close Mid-Price: 336.6 Percentage Change: + 1.60% Day High: 343.5 Day Low: 332.05
Target met. In the event of BP PLC enjoying further trades beyond 343.5, ……..
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LSE:CAR Carclo Close Mid-Price: 30.5 Percentage Change: -8.96% Day High: 33.5 Day Low: 30
Target met. In the event Carclo experiences weakness below 30 it calculat ……..
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LSE:CPI Capita Close Mid-Price: 52.24 Percentage Change: -1.06% Day High: 55.98 Day Low: 52.32
All Capita needs are mid-price trades ABOVE 55.98 to improve acceleration ……..
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LSE:GKP Gulf Keystone Close Mid-Price: 197.8 Percentage Change: -3.51% Day High: 211 Day Low: 197.6
Continued trades against GKP with a mid-price ABOVE 211 should improve th ……..
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LSE:GLEN Glencore Xstra. Close Mid-Price: 344.25 Percentage Change: + 2.29% Day High: 345.75 Day Low: 336.45
All Glencore Xstra needs are mid-price trades ABOVE 345.75 to improve acc ……..
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LSE:HUR Hurrican Energy. Close Mid-Price: 4.65 Percentage Change: + 17.72% Day High: 5.09 Day Low: 3.92
Target met. In the event of Hurrican Energy enjoying further trades beyon ……..
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LSE:IGG IG Group Close Mid-Price: 797.5 Percentage Change: -1.66% Day High: 812.5 Day Low: 794
In the event IG Group experiences weakness below 794 it calculates with a ……..
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LSE:ITRK Intertek Close Mid-Price: 4920 Percentage Change: -1.11% Day High: 4966 Day Low: 4851
Continued weakness against ITRK taking the price below 4851 calculates as ……..
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LSE:NG. National Glib Close Mid-Price: 895.3 Percentage Change: -1.50% Day High: 906.3 Day Low: 891.1
If National Glib experiences continued weakness below 891.1, it will inva ……..
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LSE:NWG Natwest. Close Mid-Price: 221.1 Percentage Change: + 0.18% Day High: 223.5 Day Low: 218.4
Further movement against Natwest ABOVE 223.5 should improve acceleration ……..
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LSE:PHP Primary Health Close Mid-Price: 153.7 Percentage Change: -1.79% Day High: 157 Day Low: 152.5
Weakness on Primary Health below 152. will invariably lead to 150.5 initi ……..
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LSE:PMG Parkmead. Close Mid-Price: 59 Percentage Change: + 5.36% Day High: 61.8 Day Low: 55.6
Target met. Further movement against Parkmead ABOVE 61.8 should improve a ……..
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LSE:POLY Polymetal Close Mid-Price: 1253.5 Percentage Change: -1.92% Day High: 1277.5 Day Low: 1241.5
Target met. Weakness on Polymetal below 1241.5 will invariably lead to 12 ……..
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LSE:SPX Spirax Close Mid-Price: 15115 Percentage Change: -1.63% Day High: 15390 Day Low: 14950
If Spirax experiences continued weakness below 14950, it will invariably ……..
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*** End of “Updated Today” comments on shares.