#Gold #SP500
By just about every standard, the recent attempted takeover of the ridiculously biased platform “#Twitter” by Elon Musk was doomed to end in tears. The platform, unable (or unwilling) to supply accurate figures relating to the true number of automated accounts (Bot Accounts) which were designed to project bias, revealed it was cancelling around 1 million computer generated accounts per day. The big question is why they even allowed such nonsense to proliferate, given the accounts were overtly designed to sway public opinion against Trump, against Russia, against Johnny Depp, against Scotland and the list goes on. Twitter was never a Social Media platform, instead turning itself into a propaganda machine, providing fake justification for fake headline news.
We abhor ‘Social Media’ for fairly basic reason. Any idiot who thinks “x” will be a good idea can post an opinion online, receiving validation for any ill thought concept within seconds. Suddenly, a genius is convinced he’s in the right, whereas in olden times, a letter to a local newspaper from Mr Angry in Putnam gave plenty of time for reality to cool things down. Unfortunately, the internet is awash with instructions on how to create “Twitter Bots”, ensuring any aspiring Mr Angry can create an army of fake followers, supporting his views.
Okay, it’s a little more complex but you get the idea. Elon Musk discovered Twitter cannot be trusted, pulling out of the original deal; “considering whether the company’s declining business prospects and financial outlook constitute a Company Material Adverse Effect”
Twitter now appears to have a share price in the process of enjoying a little melt-down. The company appear to be exercising a strategy of taking Mr Musk to court to force his to complete the purchase or pay them $1 Billion for pulling out. The flaw in their argument is pretty obvious. To succeed in court, Twitter will need reveal how many of their ‘subscribers’ are actually fake accounts, thus giving Elon Musk the information he required from the outset.
The prospects for Twitter’s share price look fairly painful as weakness now below $32 looks capable of triggering further reversals to an initial $22. If broken, our secondary calculates down at $19.5 and hopefully a bounce.
As the chart shows, the share price needs something approaching a miracle to indicate it’s about to return to sanity. Visually, there appears some hope closure above $40 should prove capable of suggesting Mr Musk is starting to take Twitter seriously again but realistically, our inclination is to treat Twitter’s price carefully unless it somehow exceeds the immediate downtrend, presently around the $47 level.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:30:11PM | BRENT | 104.78 | |||||||||
| 10:32:30PM | GOLD | 1734.26 | 1731 | 1722 | 1713 | 1741 | 1749 | 1752 | 1759 | 1740 | |
| 10:34:42PM | FTSE | 7189 | |||||||||
| 10:37:44PM | STOX50 | 3475 | ‘cess | ||||||||
| 10:39:55PM | GERMANY | 12842 | |||||||||
| 10:42:59PM | US500 | 3859 | 3845 | 3835 | 3808 | 3867 | 3882 | 3895 | 3911 | 3859 | |
| 10:45:07PM | DOW | 31204 | ‘cess | ||||||||
| 10:47:24PM | NASDAQ | 11872 | ‘cess | ||||||||
| 10:50:12PM | JAPAN | 26609 |
11/07/2022 FTSE Closed at 7196 points. Change of 0%. Total value traded through LSE was: £ 3,838,648,394 a change of -17.76%
8/07/2022 FTSE Closed at 7196 points. Change of 0.1%. Total value traded through LSE was: £ 4,667,898,504 a change of -40.47%
7/07/2022 FTSE Closed at 7189 points. Change of 1.15%. Total value traded through LSE was: £ 7,840,836,272 a change of 27.41%
6/07/2022 FTSE Closed at 7107 points. Change of 1.17%. Total value traded through LSE was: £ 6,153,962,952 a change of -14.34%
5/07/2022 FTSE Closed at 7025 points. Change of -2.86%. Total value traded through LSE was: £ 7,184,234,461 a change of 102.6%
4/07/2022 FTSE Closed at 7232 points. Change of 0.64%. Total value traded through LSE was: £ 3,546,030,521 a change of -26.75%
1/07/2022 FTSE Closed at 7186 points. Change of 0.24%. Total value traded through LSE was: £ 4,840,883,193 a change of -20.03%
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:AGM Applied Graphene** **LSE:AZN Astrazeneca** **LSE:BBY BALFOUR BEATTY** **LSE:EME Empyrean** **LSE:GKP Gulf Keystone** **LSE:JET Just Eat** **LSE:PMG Parkmead** **LSE:QFI Quadrise** **LSE:TRN The Trainline** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : Applied Graphene, Astrazeneca, BALFOUR BEATTY, Empyrean, Gulf Keystone, Just Eat, Parkmead, Quadrise, The Trainline, Taylor Wimpey,
LSE:AGM Applied Graphene Close Mid-Price: 14 Percentage Change: -9.68% Day High: 15.88 Day Low: 13.5
Target met. Continued weakness against AGM taking the price below 13.5 ca ……..
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View Previous Applied Graphene & Big Picture ***
LSE:AZN Astrazeneca. Close Mid-Price: 11154 Percentage Change: + 1.00% Day High: 11190 Day Low: 10944
Continued trades against AZN with a mid-price ABOVE 11190 should improve ……..
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View Previous Astrazeneca & Big Picture ***
LSE:BBY BALFOUR BEATTY Close Mid-Price: 263.8 Percentage Change: -0.68% Day High: 272 Day Low: 262.6
All BALFOUR BEATTY needs are mid-price trades ABOVE 272 to improve accele ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:EME Empyrean. Close Mid-Price: 1.43 Percentage Change: + 31.34% Day High: 1.5 Day Low: 1.3
Something is happening. Should this now trade above just 1.55p, it feels v ……..
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View Previous Empyrean & Big Picture ***
LSE:GKP Gulf Keystone Close Mid-Price: 243.5 Percentage Change: -1.22% Day High: 252.5 Day Low: 233
Continued trades against GKP with a mid-price ABOVE 252.5 should improve ……..
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View Previous Gulf Keystone & Big Picture ***
LSE:JET Just Eat Close Mid-Price: 1312.2 Percentage Change: -1.83% Day High: 1373.2 Day Low: 1302
If Just Eat experiences continued weakness below 1302, it will invariably ……..
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View Previous Just Eat & Big Picture ***
LSE:PMG Parkmead. Close Mid-Price: 54.2 Percentage Change: + 4.23% Day High: 55 Day Low: 52.2
Target met. In the event of Parkmead enjoying further trades beyond 55, t ……..
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View Previous Parkmead & Big Picture ***
LSE:QFI Quadrise Close Mid-Price: 1.4 Percentage Change: -2.45% Day High: 1.5 Day Low: 1.34
Target met. In the event Quadrise experiences weakness below 1.34 it calc ……..
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View Previous Quadrise & Big Picture ***
LSE:TRN The Trainline. Close Mid-Price: 362.4 Percentage Change: + 2.87% Day High: 366.5 Day Low: 335.6
Further movement against The Trainline ABOVE 366.5 should improve acceler ……..
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View Previous The Trainline & Big Picture ***
LSE:TW. Taylor Wimpey. Close Mid-Price: 113.6 Percentage Change: + 0.58% Day High: 114.4 Day Low: 110.3
Target met. Weakness on Taylor Wimpey below 110.3 will invariably lead to ……..
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View Previous Taylor Wimpey & Big Picture ***