Tesco, sailing in the doledrums

#Gold #Nasdaq  

A weekly yacht race takes place across the sea loch, here in our bit of Argyll. Some weeks (vanishingly few), the ‘race’ can prove less than interesting to watch, the die-hards refusing to concede an utter lack of wind and instead, being carried in whatever direction the tide is running. We fear Tesco share price faces a similar future as currently there’s very little wind filling its sails.

 

At present, trading around 258p, Tesco share price needs move above 264p to give hope of some gains as we can calculate the potential of this triggering an initial visit to 271p with secondary, if exceeded, working out at 279p. A glance at the chart below makes our lack of enthusiasm pretty simple to explain. Neither target price appears capable of creating any sort of high, above the market peaks of 2022. Instead, a picture forms of a share trapped in the doledrums until a creative change comes along to force movement of strength.

Should this vision of real life prove correct, there’s a serious risk of the “if it ain’t goin’ up, it’s goin’ down” theory kicking in.

Tesco need only trade below 249p to enter the early stages of significant discounting on their share price as we can calculate the risk of this triggering reversal to an initial 227p. On the chart, such a target even makes some sense, matching the uptrend since 2016. A reversal such as this is liable to prove significant, due to weakness below 227p calculating with the potential of ongoing reversal to 204p, placing the share price in a region where a long term reversal cycle to 157p becomes possible.

However, the visuals on the chart tend suggest a bounce, should 204p make an appearance.

 

Similar to our weekly yacht race, perhaps Tesco are not worth watching closely but perhaps worthy of an occasional glance, just in case something happens and some of our parameters trigger.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:52:30PM BRENT 112.06 ‘cess
10:54:33PM GOLD 1817.97 1811 1806 1797 1819 1833 1838 1847 1823 Success
10:57:08PM FTSE 7307.69
11:00:01PM FRANCE 6014.8 ‘cess
11:13:34PM GERMANY 12995 Success
11:15:19PM US500 3816.57 Success
11:19:01PM DOW 31027.9
11:21:54PM NASDAQ 11658 11531 11477 11330 11659 11717 11777 11861 11634 ‘cess
11:24:04PM JAPAN 26730 ‘cess

 

29/06/2022 FTSE Closed at 7312 points. Change of -0.15%. Total value traded through LSE was: £ 5,586,821,429 a change of -8.41%
28/06/2022 FTSE Closed at 7323 points. Change of 0.9%. Total value traded through LSE was: £ 6,100,040,096 a change of -3.89%
27/06/2022 FTSE Closed at 7258 points. Change of 0.69%. Total value traded through LSE was: £ 6,347,029,355 a change of 0.8%
24/06/2022 FTSE Closed at 7208 points. Change of 2.68%. Total value traded through LSE was: £ 6,296,850,381 a change of 10.86%
23/06/2022 FTSE Closed at 7020 points. Change of -0.97%. Total value traded through LSE was: £ 5,680,077,638 a change of -12.72%
22/06/2022 FTSE Closed at 7089 points. Change of -0.88%. Total value traded through LSE was: £ 6,507,643,698 a change of 40.38%
21/06/2022 FTSE Closed at 7152 points. Change of 0.44%. Total value traded through LSE was: £ 4,635,756,984 a change of -23.37%

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:AVCT Avacta** **LSE:AZN Astrazeneca** **LSE:BT.A British Telecom** **LSE:CBX Cellular Goods** **LSE:CCL Carnival** **LSE:HSBA HSBC** **LSE:ITM ITM Power** **LSE:JET Just Eat** **LSE:OPG OPG Power Ventures** **LSE:STAN Standard Chartered** **

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Updated charts published on : AFC Energy, Avacta, Astrazeneca, British Telecom, Cellular Goods, Carnival, HSBC, ITM Power, Just Eat, OPG Power Ventures, Standard Chartered,

LSE:AFC AFC Energy Close Mid-Price: 21.9 Percentage Change: -5.19% Day High: 24 Day Low: 20.4

Continued weakness against AFC taking the price below 20.4 calculates as l ……..

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View Previous AFC Energy & Big Picture ***

LSE:AVCT Avacta. Close Mid-Price: 109 Percentage Change: + 9.00% Day High: 118.5 Day Low: 101.5

Above 119 now should signal recovery to 130 next, along with some stutters ……..

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View Previous Avacta & Big Picture ***

LSE:AZN Astrazeneca. Close Mid-Price: 11054 Percentage Change: + 2.48% Day High: 11048 Day Low: 10736

Further movement against Astrazeneca ABOVE 11048 should improve accelerati ……..

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View Previous Astrazeneca & Big Picture ***

LSE:BT.A British Telecom Close Mid-Price: 191.65 Percentage Change: -0.34% Day High: 194.85 Day Low: 190.65

All British Telecom needs are mid-price trades ABOVE 195 to improve accele ……..

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View Previous British Telecom & Big Picture ***

LSE:CBX Cellular Goods Close Mid-Price: 1.11 Percentage Change: -3.48% Day High: 1.18 Day Low: 1.07

In the event Cellular Goods experiences weakness below 1.07, it still calc ……..

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</p

View Previous Cellular Goods & Big Picture ***

LSE:CCL Carnival Close Mid-Price: 653.2 Percentage Change: -16.34% Day High: 747.6 Day Low: 640

Weakness on Carnival below 640 will invariably lead to 564 with secondary ……..

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View Previous Carnival & Big Picture ***

LSE:HSBA HSBC. Close Mid-Price: 552.1 Percentage Change: + 1.15% Day High: 555.4 Day Low: 541.7

All HSBC needs are mid-price trades ABOVE 556 to improve acceleration towa ……..

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View Previous HSBC & Big Picture ***

LSE:ITM ITM Power Close Mid-Price: 173.6 Percentage Change: -10.28% Day High: 197 Day Low: 172.45

Target Met. This is potentially quite a bad show. Traffic now below 172 ri ……..

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View Previous ITM Power & Big Picture ***

LSE:JET Just Eat Close Mid-Price: 1297.2 Percentage Change: -17.12% Day High: 1417 Day Low: 1219.2

Target Met. Weakness on Just Eat below 1200 will invariably lead to 1065 w ……..

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View Previous Just Eat & Big Picture ***

LSE:OPG OPG Power Ventures Close Mid-Price: 6.2 Percentage Change: -1.59% Day High: 6.48 Day Low: 6.2

Continued weakness against OPG taking the price below 6.2 calculates as le ……..

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</p

View Previous OPG Power Ventures & Big Picture ***

LSE:STAN Standard Chartered. Close Mid-Price: 638.6 Percentage Change: + 2.90% Day High: 641 Day Low: 615.8

Continued trades against STAN with a mid-price ABOVE 641 should improve th ……..

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</p

View Previous Standard Chartered & Big Picture ***

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

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