Natwest to reverse to 160p?

#Brent #Dax The final week of January always tends prove quite traumatic. Historically, we’d felt it was either the Economic Forum in Davos (May this year) or the proximity of the Chinese New Year (1st Feb). On occasion, China has made some sort of announcement which impacts negatively on the world, then closes its own stock market for the New Year holiday in the hope the dust settles for their return.

But this year, the trauma has started a few days early and lots of commentators are running around in ‘headless chicken’ mode, predicting the worst for the markets. We’re not entirely convinced, despite some traumatic reversals on Friday.

Did anyone notice FTSE Futures closed the week at 7,421 points at 9pm on Friday? This was exactly the level we’d proposed a bounce from in our ‘FTSE for FRIDAY’ article. Unfortunately, we’re no longer quite as confident, thanks to FTSE Futures opening for the coming week, gapped down by a further 15 points. This provokes some suspicion the reversals may not be quite finished yet but when we review shares, a heck of a lot of them are running out of steam for drops, instead approaching levels where some bounces can be hoped.

 

Natwest are in such a position, the immediate picture suggesting weakness below 237p risks near term weakness down to an initial 234p with secondary, if broken, at 231p and hopefully a real bounce. Things certainly risk becoming problematic with any break below 231p as our next best hope is loitering at 215p, matching the level of the trendbreak through Blue, a line which dates back 15 years in time. For now, we remain optimistic thanks to Natwest share price doing many of the right things. Overall, despite near terms downs and ups, the share is trading in a region where 261p shows as the next major point of interest in a path which leads to 330p hopefully.

The bank needs reverse below 215p to promote a bout of navel gazing as the consequences could become pretty unpleasant, destroying our calculations for 330p and instead ticking the first box in a cycle which could end at 160p. Visually, none of this makes any sense currently but we must remember, Natwest are a retail bank and very little about retail bank share movements made sense until very recently.

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FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:31:02PM BRENT 87.05 85.72 84.8 83.44 86.78 87.57 87.6975 87.98 86.15
9:33:05PM GOLD 1832.1 ‘cess
9:40:45PM FTSE 7424 Success
9:44:47PM FRANCE 6999.4 ‘cess
9:47:06PM GERMANY 15455.72 15442 15375.5 15296 15549 15615 15640 15706 15515 Success
9:55:02PM US500 4414 Success
10:25:31PM DOW 34341 ‘cess
10:30:45PM NASDAQ 14437
10:33:20PM JAPAN 27215

 

21/01/2022 FTSE Closed at 7494 points. Change of -1.2%. Total value traded through LSE was: £ 7,885,774,103 a change of 20.92%
20/01/2022 FTSE Closed at 7585 points. Change of -0.05%. Total value traded through LSE was: £ 6,521,628,941 a change of -25.14%
19/01/2022 FTSE Closed at 7589 points. Change of 0.34%. Total value traded through LSE was: £ 8,711,225,225 a change of 13.49%
18/01/2022 FTSE Closed at 7563 points. Change of -0.63%. Total value traded through LSE was: £ 7,675,745,106 a change of 32.82%
17/01/2022 FTSE Closed at 7611 points. Change of 0.91%. Total value traded through LSE was: £ 5,779,249,970 a change of -10.18%
14/01/2022 FTSE Closed at 7542 points. Change of -0.28%. Total value traded through LSE was: £ 6,434,562,809 a change of 1.01%
13/01/2022 FTSE Closed at 7563 points. Change of 0.16%. Total value traded through LSE was: £ 6,370,299,567 a change of -13.58%

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:AFC AFC Energy** **LSE:BDEV Barrett Devs** **LSE:EMG MAN** **LSE:GLEN Glencore Xstra** **LSE:HIK Hikma** **LSE:HL. Hargreaves Lansdown** **LSE:IQE IQE** **LSE:ITM ITM Power** **LSE:OXIG Oxford Instruments** **LSE:PHP Primary Health** **LSE:RBD Reabold Resources PLC** **LSE:RKH Rockhopper** **LSE:SPX Spirax** **

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Updated charts published on : AFC Energy, Barrett Devs, MAN, Hikma, Hargreaves Lansdown, IQE, ITM Power, Oxford Instruments, Primary Health, Reabold Resources PLC, Rockhopper, Spirax,

LSE:AFC AFC Energy Close Mid-Price: 36.9 Percentage Change: -6.70% Day High: 39 Day Low: 36.4

Below 36 points at an initial 30p with secondary, if broken, a less likel ……..

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View Previous AFC Energy & Big Picture ***

LSE:BDEV Barrett Devs Close Mid-Price: 674.4 Percentage Change: -0.77% Day High: 674.8 Day Low: 663.4

Continued weakness against BDEV taking the price below 663 calculates as l ……..

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LSE:EMG MAN Close Mid-Price: 207.6 Percentage Change: -2.90% Day High: 212.1 Day Low: 205.6

Target met. If MAN experiences continued weakness below 205.6, it will in ……..

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LSE:GLEN Glencore Xstra Close Mid-Price: 410.05 Percentage Change: -0.59% Day High: 410.1 Day Low: 401.05

Further movement against Glencore Xstra ABOVE 424 should improve accelerat ……..

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LSE:HIK Hikma Close Mid-Price: 2018 Percentage Change: -1.32% Day High: 2041 Day Low: 2006

Weakness on Hikma below 2006 will invariably lead to 1980 with secondary ……..

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LSE:HL. Hargreaves Lansdown Close Mid-Price: 1301.5 Percentage Change: -2.47% Day High: 1330.5 Day Low: 1301.5

In the event Hargreaves Lansdown experiences weakness below 1301.5 it cal ……..

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LSE:IQE IQE Close Mid-Price: 30.55 Percentage Change: -5.42% Day High: 31.6 Day Low: 29.95

In the event IQE experiences weakness below 29.95 it calculates with a dr ……..

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LSE:ITM ITM Power Close Mid-Price: 308 Percentage Change: -7.34% Day High: 328 Day Low: 302.4

If ITM Power experiences continued weakness below 302.4, it will invariab ……..

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LSE:OXIG Oxford Instruments. Close Mid-Price: 2250 Percentage Change: + 1.12% Day High: 2245 Day Low: 2190

Continued weakness against OXIG taking the price below 2190 calculates as ……..

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View Previous Oxford Instruments & Big Picture ***

LSE:PHP Primary Health Close Mid-Price: 143.8 Percentage Change: -0.69% Day High: 144.6 Day Low: 143.5

If Primary Health experiences continued weakness below 143.5, it will inv ……..

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LSE:RBD Reabold Resources PLC Close Mid-Price: 0.26 Percentage Change: -1.89% Day High: 0.27 Day Low: 0.26

All Reabold Resources PLC needs are mid-price trades ABOVE 0.27 to improv ……..

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LSE:RKH Rockhopper. Close Mid-Price: 10.6 Percentage Change: + 2.91% Day High: 10.68 Day Low: 10.2

Continued trades against RKH with a mid-price ABOVE 10.68 should improve ……..

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LSE:SPX Spirax Close Mid-Price: 13040 Percentage Change: -2.14% Day High: 13175 Day Low: 12905

If Spirax experiences continued weakness below 12905, it will invariably ……..

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View Previous Spirax & Big Picture ***

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

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