#DAX #NASDAQ Recent news of Hertz selecting Tesla as a vehicle supplier immediately reminded of a favourite ‘Steve Wright in the Afternoon’ joke. It was along the lines of; “Today, we celebrate the birthday of the Dutch bloke who invented commercial vehicle hire, ‘Hertz Van Rental’…” Also begging the question as to why only bad jokes stick in my memory!
Hertz shares recently transited to a Nasdaq listing and we’d suspected some sort of boost could be expected, given their association with Tesla, a company which enjoys a runaway share price. While we’re perhaps being a little naive with a listing which is only a few hours old, when we extrapolate the limited Nasdaq trading data, some interesting potentials become possible. Near term travel below just $25 US looks capable of reversal to an initial 24.5. If broken, we quite strongly suspect the price shall reverse to a secondary target of $17.5, hopefully capable of enjoying a proper rebound from such a level. Obviously, this is quite a lot of reversal calculated from a couple of days trading but, we believe this shall prove worth watching, if hoping to catch a bottom.
Tesla share price, to be honest, joins Bitcoin in trading in the realms of ‘wow’. A glance at their chart is always a bit of a puzzle, similar to looking at one of these photo’s of a cow on the roof of a house, begging the question; “Just how did that get there?”
In the case of Tesla, the company share price has (almost) started to behave logically, the recent high of $1242 proving extremely interesting from our perspective. Our calculations had been giving a maximum high on the current movement cycle at $1249, yet the share marginally failed to reach target before the price fell away. Despite the reversal being attributed to Mr Musk’s comments on Twitter, it was fascinating witnessing such movement when one of our target levels was close. Perhaps the detail of the share price failing to reach our calculated 1249 also implies some weakness may be present.
If we choose a scenario where weakness may indeed be the case, we can calculate below $986 as entering the realms of reversal to an initial $789. If broken, we would hope for the share price to eventually bounce at $762.
Similar to Hertz above, perhaps this shall prove worth watching. However, should a miracle occur and it somehow staggers above $1249, we cannot presently calculate any sensible upward targets.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:22:32PM | BRENT | 82.09 | ‘cess | ||||||||
| 10:25:41PM | GOLD | 1852.9 | Success | ||||||||
| 10:28:04PM | FTSE | 7315.32 | ‘cess | ||||||||
| 10:30:02PM | FRANCE | 7009 | ‘cess | ||||||||
| 10:45:16PM | GERMANY | 16025.54 | 15986 | 15948 | 15904 | 16036 | 16044 | 16053 | 16062 | 16002 | |
| 10:47:14PM | US500 | 4651.07 | Success | ||||||||
| 10:49:41PM | DOW | 36089.7 | ‘cess | ||||||||
| 10:51:02PM | NASDAQ | 16004 | 15900 | 15840.5 | 15634 | 16080 | 16078 | 16104 | 16171 | 15903 | Success |
| 10:53:06PM | JAPAN | 29057 | ‘cess |
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10/11/2021 FTSE Closed at 7340 points. Change of 0.91%. Total value traded through LSE was: £ 6,309,453,625 a change of -1.99%
9/11/2021 FTSE Closed at 7274 points. Change of -0.36%. Total value traded through LSE was: £ 6,437,458,851 a change of 17.56%
8/11/2021 FTSE Closed at 7300 points. Change of -0.04%. Total value traded through LSE was: £ 5,475,805,501 a change of 1.81%
5/11/2021 FTSE Closed at 7303 points. Change of 0.33%. Total value traded through LSE was: £ 5,378,363,881 a change of -21.99%
4/11/2021 FTSE Closed at 7279 points. Change of 0.43%. Total value traded through LSE was: £ 6,894,189,975 a change of 28.51%
3/11/2021 FTSE Closed at 7248 points. Change of -0.36%. Total value traded through LSE was: £ 5,364,561,051 a change of -4.12%
2/11/2021 FTSE Closed at 7274 points. Change of -0.19%. Total value traded through LSE was: £ 5,594,886,752 a change of 24.19%
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:BLVN Bowleven** **LSE:CASP Caspian** **LSE:FRES Fresnillo** **LSE:IGG IG Group** **LSE:ITM ITM Power** **LSE:MKS Marks and Spencer** **LSE:NWG Natwest** **LSE:PMG Parkmead** **LSE:TSCO Tesco** **LSE:VOG VICTORIA** **
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Updated charts published on : Asos, Bowleven, Caspian, Fresnillo, IG Group, ITM Power, Marks and Spencer, Natwest, Parkmead, Tesco, VICTORIA,
LSE:ASC Asos. Close Mid-Price: 2822 Percentage Change: + 9.51% Day High: 2880 Day Low: 2532
Target met. All Asos needs are mid-price trades ABOVE 2880 to improve acc ……..
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View Previous Asos & Big Picture ***
LSE:BLVN Bowleven Close Mid-Price: 3 Percentage Change: -25.00% Day High: 3.5 Day Low: 2.5
Target met. In the event Bowleven experiences weakness below 2.5 it calcu ……..
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View Previous Bowleven & Big Picture ***
LSE:CASP Caspian. Close Mid-Price: 4.35 Percentage Change: + 5.45% Day High: 4.35 Day Low: 4.12
Further movement against Caspian ABOVE 4.35 should improve acceleration t ……..
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View Previous Caspian & Big Picture ***
LSE:FRES Fresnillo. Close Mid-Price: 959.2 Percentage Change: + 3.54% Day High: 963.2 Day Low: 907.8
Target met. Continued trades against FRES with a mid-price ABOVE 963.2 sh ……..
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View Previous Fresnillo & Big Picture ***
LSE:IGG IG Group. Close Mid-Price: 789 Percentage Change: + 0.77% Day High: 790.5 Day Low: 781
In a small update, below 773 now indicates the risk of reversal to an init ……..
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View Previous IG Group & Big Picture ***
LSE:ITM ITM Power. Close Mid-Price: 521 Percentage Change: + 1.86% Day High: 527.5 Day Low: 500.5
Target met. All ITM Power needs are mid-price trades ABOVE 527.5 to impro ……..
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View Previous ITM Power & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 226.5 Percentage Change: + 16.48% Day High: 235.5 Day Low: 214.5
Target met. Continued trades against MKS with a mid-price ABOVE 235.5 sho ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 215.3 Percentage Change: + 0.61% Day High: 216 Day Low: 213
There’s a pretty good argument suggesting above 220 should make an attempt ……..
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View Previous Natwest & Big Picture ***
LSE:PMG Parkmead Close Mid-Price: 45 Percentage Change: -6.25% Day High: 47.9 Day Low: 45
If Parkmead experiences continued weakness below 45, it will invariably l ……..
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View Previous Parkmead & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 284.95 Percentage Change: + 2.32% Day High: 284.45 Day Low: 278.65
Target met. Further movement against Tesco ABOVE 284.45 should improve ac ……..
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View Previous Tesco & Big Picture ***
LSE:VOG VICTORIA Close Mid-Price: 2.85 Percentage Change: -5.00% Day High: 3 Day Low: 2.85
If VICTORIA experiences continued weakness below 2.85, it will invariably ……..
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View Previous VICTORIA & Big Picture ***