Serious Bitcoin thoughts & our super FTSE for Friday

#FTSE #Gold

You don’t need dig far into the news to find plenty of doom and gloom stories for crypto currency.  Apparently, it’s “game over” and everyone involved has now lost trillions. The reality, we suspect, shall prove quite different. Firstly, no-one makes a loss until they sell (or are stopped out) and secondly, well “secondly” is curious.

The immediate Bitcoin chart is, at first glance, quite interesting. On Thursday 12th May, the crypto broke the uptrend since 2020, attaining a bottom around $25,300 when the days session effectively opened at 8am. We’d been showing a Big Picture drop target around 27,700 on the current cycle and this, quite precisely, appeared to mesh with the Red uptrend. While the spike down early in the day to a low of 25,300 indeed broke the trend, the damage was undone by 8.45am.

As the chart inset highlights, Bitcoin certainly interfered with the trend but appears extremely unlikely to close the day below our drop target level. As a result, we’re inclined to anticipate some near term recovery as above 29,900 now looks capable of an attempt at an initial 31,290 with secondary, if bettered, a slightly more inspiring 34,800. It’s certainly an ongoing concern as the market “proved” at 8am the 2020 Red uptrend can be broken but visually, it appears unlikely this initial damage is intended to last.

However, to jump on the misery bandwagon, we’d now warn below 25,300 calculates with the risk of reversal now to an initial 21,400 with secondary, if broken, at 13,800 and a return to levels not seen since just 18 months ago.

 

 FTSE for Friday Yet again, we’re stumbling into a Friday feeling uncertain as to just what the heck is going on. It’s supposed to be the case of weakness below 7158 points now generating reversal to an initial 7090 points with secondary, if broken, a hopeful bottom at 7004 points. Unfortunately, there’s quite a strong visual case demanding a bottom at the 7004 point level, thanks to the presence of the Red pandemic trend line. This almost jars with a nice letter received today from Scotland’s fragrant Nicola Sturgeon, effectively letting me know the pandemic shall be deemed “over” from the end of this month, thanks to plentiful supply of treatments for anyone experiencing Covid-19. But personally, not to worry as I remain at the top of the list for any future vaccination campaigns.

It begs the question, should we now disregard the pandemic trend and instead, worry about the Russia trend since March?

 

But the level of surprise recovery shown during Thursday produced a near term trigger level and with the market closing the session at 7233 points, very little work needs done to give some near term hope. Above just 7278 points is supposed to trigger ongoing recovery to an initial 7379 points, a tidy 100 point boost capable of making the chaos of this week feel like a painful memory. Above 7379 and we can calculate a secondary target at 7446 points.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:37:07PM BRENT 107.34 104 102.75 106.05 108 108.99 105.75
9:39:27PM GOLD 1822.82 1821 1819 1827 1843 1849 1831 ‘cess
9:41:50PM FTSE 7211.5 7171 7139 7241 7298 7330 7240 ‘cess
9:43:44PM FRANCE 6200.7 6093 6037 6162 6239 6279 6164
10:02:02PM GERMANY 13669 13470 13311 13580 13804 13875 13671
10:03:32PM US500 3914.65 3857 3830 3904 3966 3974 3914 ‘cess
10:06:53PM DOW 31627 31174 30731 31740 31974 32274 31740 Success
10:12:21PM NASDAQ 11884.97 11685 11572 11786 12088 12140 11955 ‘cess
10:15:11PM JAPAN 25698 25527 25458 25680 26022 26091 25900 Success

 

12/05/2022 FTSE Closed at 7233 points. Change of -1.55%. Total value traded through LSE was: £ 8,068,175,968 a change of -13.29%
11/05/2022 FTSE Closed at 7347 points. Change of 1.44%. Total value traded through LSE was: £ 9,304,334,633 a change of 45.01%
10/05/2022 FTSE Closed at 7243 points. Change of 0.37%. Total value traded through LSE was: £ 6,416,543,760 a change of 2.54%
9/05/2022 FTSE Closed at 7216 points. Change of -2.31%. Total value traded through LSE was: £ 6,257,631,157 a change of -11.88%
6/05/2022 FTSE Closed at 7387 points. Change of -1.55%. Total value traded through LSE was: £ 7,100,975,536 a change of 2.72%
5/05/2022 FTSE Closed at 7503 points. Change of 0.13%. Total value traded through LSE was: £ 6,912,828,845 a change of 20.87%
4/05/2022 FTSE Closed at 7493 points. Change of -100%. Total value traded through LSE was: £ 5,719,365,474 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:AFC AFC Energy** **LSE:AGM Applied Graphene** **LSE:AML Aston Martin** **LSE:ASC Asos** **LSE:CASP Caspian** **LSE:CBX Cellular Goods** **LSE:CCL Carnival** **LSE:CEY Centamin** **LSE:DDDD 4D Pharma** **LSE:EXPN Experian** **LSE:EZJ EasyJet** **LSE:FOXT Foxtons** **LSE:HL. Hargreaves Lansdown** **LSE:IAG British Airways** **LSE:IGG IG Group** **LSE:ITM ITM Power** **LSE:ITRK Intertek** **LSE:JET Just Eat** **LSE:OCDO Ocado Plc** **LSE:OXIG Oxford Instruments** **LSE:POG Petrop etc** **LSE:SDY Speedyhire** **LSE:SPX Spirax** **

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Updated charts published on : AFC Energy, Applied Graphene, Aston Martin, Asos, Caspian, Cellular Goods, Carnival, Centamin, 4D Pharma, Experian, EasyJet, Foxtons, Hargreaves Lansdown, British Airways, IG Group, ITM Power, Intertek, Just Eat, Ocado Plc, Oxford Instruments, Petrop etc, Speedyhire, Spirax,

LSE:AFC AFC Energy Close Mid-Price: 26.42 Percentage Change: -7.30% Day High: 27.4 Day Low: 24.52

Target met. If AFC Energy experiences continued weakness below 24.52, it ……..

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LSE:AGM Applied Graphene Close Mid-Price: 17 Percentage Change: -2.86% Day High: 17 Day Low: 16.52

Weakness on Applied Graphene below 16.52 will invariably lead to 14.8 wit ……..

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LSE:AML Aston Martin Close Mid-Price: 689.2 Percentage Change: -2.02% Day High: 697.4 Day Low: 650.6

Continued weakness against AML taking the price below 650.6 calculates as ……..

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LSE:ASC Asos. Close Mid-Price: 1378 Percentage Change: + 4.08% Day High: 1388 Day Low: 1248

Target met. If Asos experiences continued weakness below 1248, it will in ……..

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LSE:CASP Caspian Close Mid-Price: 2.55 Percentage Change: -5.56% Day High: 2.7 Day Low: 2.55

Weakness on Caspian below 2.55 will invariably lead to 2.2 with secondary ……..

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LSE:CBX Cellular Goods Close Mid-Price: 2 Percentage Change: -13.04% Day High: 2.1 Day Low: 1.95

Target met. Weakness on Cellular Goods below 1.95 will invariably lead to ……..

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LSE:CCL Carnival Close Mid-Price: 1021.5 Percentage Change: -4.84% Day High: 1046 Day Low: 965

Target met. Continued weakness against CCL taking the price below 965 cal ……..

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LSE:CEY Centamin Close Mid-Price: 80.96 Percentage Change: -5.93% Day High: 86.26 Day Low: 80.74

In the event Centamin experiences weakness below 80.74 it calculates with ……..

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LSE:DDDD 4D Pharma Close Mid-Price: 32.7 Percentage Change: -6.17% Day High: 33.75 Day Low: 31.3

Continued weakness against DDDD taking the price below 31.3 calculates as ……..

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LSE:EXPN Experian Close Mid-Price: 2645 Percentage Change: -0.60% Day High: 2655 Day Low: 2560

If Experian experiences continued weakness below 2560, it will invariably ……..

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LSE:EZJ EasyJet Close Mid-Price: 490.2 Percentage Change: -3.01% Day High: 500.8 Day Low: 468.1

If EasyJet experiences continued weakness below 468.1, it will invariably ……..

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LSE:FOXT Foxtons Close Mid-Price: 35 Percentage Change: -5.91% Day High: 36.85 Day Low: 35.8

Continued weakness against FOXT taking the price below 35.8 calculates as ……..

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LSE:HL. Hargreaves Lansdown Close Mid-Price: 861.8 Percentage Change: -3.60% Day High: 866.8 Day Low: 804.8

Continued weakness against HL. taking the price below 804.8 calculates as ……..

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LSE:IAG British Airways Close Mid-Price: 122.36 Percentage Change: -2.94% Day High: 124.8 Day Low: 119.26

Target met. Weakness on British Airways below 119.26 will invariably lea ……..

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LSE:IGG IG Group Close Mid-Price: 707 Percentage Change: -3.42% Day High: 724.5 Day Low: 698.5

Weakness on IG Group below 698.5 will invariably lead to 695 with seconda ……..

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LSE:ITM ITM Power Close Mid-Price: 268.9 Percentage Change: -4.34% Day High: 273.9 Day Low: 253.3

Target met. Continued weakness against ITM taking the price below 253.3 c ……..

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LSE:ITRK Intertek Close Mid-Price: 4861 Percentage Change: -0.96% Day High: 4875 Day Low: 4783

Target met. In the event Intertek experiences weakness below 4783 it calc ……..

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LSE:JET Just Eat. Close Mid-Price: 1568.4 Percentage Change: + 3.08% Day High: 1603.8 Day Low: 1415.8

In the event Just Eat experiences weakness below 1415.8 it calculates wit ……..

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LSE:OCDO Ocado Plc. Close Mid-Price: 774 Percentage Change: + 1.28% Day High: 779.2 Day Low: 691.6

Target met. Weakness on Ocado Plc below 691.6 will invariably lead to 604 ……..

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LSE:OXIG Oxford Instruments Close Mid-Price: 2110 Percentage Change: -0.94% Day High: 2110 Day Low: 2015

In the event Oxford Instruments experiences weakness below 2015 it calcul ……..

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LSE:POG Petrop etc. Close Mid-Price: 2.5 Percentage Change: + 63.93% Day High: 3.49 Day Low: 1.7

Target met. Further movement against Petrop etc ABOVE 3.49 should improve ……..

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LSE:SDY Speedyhire Close Mid-Price: 45.95 Percentage Change: -3.36% Day High: 47.1 Day Low: 45.5

In the event Speedyhire experiences weakness below 45.5 it calculates wit ……..

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LSE:SPX Spirax Close Mid-Price: 10830 Percentage Change: -0.91% Day High: 10900 Day Low: 10565

Weakness on Spirax below 10565 will invariably lead to 10,492. If broken, ……..

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

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