#WallSt #SP500
The company in which David Beckham is invested is suddenly showing an interesting potential, one which makes us question whether 4 thousandths of a penny is important or not. Our fascination relates to the Blue line on the chart below and the astounding “fact” CBX has finally closed above the trend, a line which commenced back in February 2021 amongst the fervour of the lab grown cannabis launch on the UK stock market.
By any standards, 4/1000ths isn’t a lot but by closing the session on Tuesday 17th August at 2.4p, with the trend line at 2.396p, we’re all supposed to be madly excited and promising great things for the future. It’s obviously an official “breakout”, a seriously big deal…
Or is it?
Time will tell but we’re no longer surprised when this sort of nonsense proves important, share prices often behaving as if an impediment to good behaviour has been lifted. Who knows, perhaps Boris Johnston will do something useful when he’s set free from the UK. There must be a party somewhere he hasn’t graced with his presence!
From an immediate perspective, we can calculate movement above 2.7p is supposed to trigger price recovery to 3.3p next. While visually, there’s a heck of an argument promising some hesitation at such a level, it’s perhaps worth remembering recovery after a trend break can often prove flamboyant. In this instance, our secondary at 4.5p doesn’t look unattainable, instead proposing itself as a logical target should our initial 3.3p be exceeded.
At this point, things get a little squirrelly, presenting a price level where we should ideally revisit the numbers and examine the path taken, should such a target ambition come to fruition. The steady nature of CBX’s fall since December last year has created a situation which allegedly allows several sharp recovery spikes in the future, should our 4.5p dream make itself a reality. There’s absolutely no way can we sanely suggest “and above 4.5p and we’re calculating a future 20p” but unfortunately, these are the numbers we’re currently being dealt. Common sense implies the market will harbour other ideas and the easiest way of inflicting them is to introduce hesitation at target levels.
Perhaps CBX shall prove worth watching anytime now. Hopefully the company don’t have some negative news to detract from our impressive 4/1000’s of a penny worth of optimism.
Usually, we’d include a zoomed in “chart inset” to show a breakout but, to be honest, the Blue line on the chart is thicker than the price movement! 
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:57:29PM | BRENT | 92.75 | |||||||||
| 10:07:51PM | GOLD | 1762.27 | Success | ||||||||
| 10:37:32PM | FTSE | 7520.96 | ‘cess | ||||||||
| 10:39:31PM | STOX50 | 3773 | Success | ||||||||
| 10:44:50PM | GERMANY | 13670 | Success | ||||||||
| 10:49:20PM | US500 | 4277 | 4251 | 4231 | 4200 | 4282 | 4311 | 4328 | 4353 | 4274 | ‘cess |
| 10:51:35PM | DOW | 33996 | 33826 | 33778 | 33636 | 34100 | 34204 | 34337 | 34508 | 34040 | |
| 10:53:47PM | NASDAQ | 13481 | |||||||||
| 10:55:42PM | JAPAN | 29019 | Success |
17/08/2022 FTSE Closed at 7515 points. Change of -0.28%. Total value traded through LSE was: £ 4,585,359,451 a change of 5.45%
16/08/2022 FTSE Closed at 7536 points. Change of 0.36%. Total value traded through LSE was: £ 4,348,545,250 a change of 13.62%
15/08/2022 FTSE Closed at 7509 points. Change of 0.12%. Total value traded through LSE was: £ 3,827,179,402 a change of -9.76%
12/08/2022 FTSE Closed at 7500 points. Change of 0.47%. Total value traded through LSE was: £ 4,240,976,226 a change of -17.45%
11/08/2022 FTSE Closed at 7465 points. Change of -0.56%. Total value traded through LSE was: £ 5,137,633,275 a change of -1.15%
10/08/2022 FTSE Closed at 7507 points. Change of 0.25%. Total value traded through LSE was: £ 5,197,338,086 a change of -9.09%
9/08/2022 FTSE Closed at 7488 points. Change of 0.08%. Total value traded through LSE was: £ 5,716,882,880 a change of 22.59%
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:BARC Barclays** **LSE:BBY BALFOUR BEATTY** **LSE:CCL Carnival** **LSE:DARK Darktrace Plc** **LSE:GLEN Glencore Xstra** **LSE:NWG Natwest** **
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Updated charts published on : Asos, Barclays, BALFOUR BEATTY, Carnival, Darktrace Plc, Glencore Xstra, Natwest,
LSE:ASC Asos Close Mid-Price: 852 Percentage Change: -11.20% Day High: 955.5 Day Low: 854.5
Target met. If Asos experiences continued weakness below 854.5, it will i ……..
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View Previous Asos & Big Picture ***
LSE:BARC Barclays Close Mid-Price: 168.68 Percentage Change: -1.07% Day High: 173.34 Day Low: 168.56
All Barclays needs are mid-price trades ABOVE 173.34 to improve accelerat ……..
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View Previous Barclays & Big Picture ***
LSE:BBY BALFOUR BEATTY. Close Mid-Price: 319.6 Percentage Change: + 10.51% Day High: 322.6 Day Low: 300.8
Target met. Continued trades against BBY with a mid-price ABOVE 322.6 sho ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:CCL Carnival Close Mid-Price: 779.4 Percentage Change: -0.05% Day High: 830 Day Low: 780.6
Further movement against Carnival ABOVE 830 should improve acceleration t ……..
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View Previous Carnival & Big Picture ***
LSE:DARK Darktrace Plc. Close Mid-Price: 540.6 Percentage Change: + 4.93% Day High: 552.4 Day Low: 509.2
Target met. Continued trades against DARK with a mid-price ABOVE 552.4 sh ……..
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View Previous Darktrace Plc & Big Picture ***
LSE:GLEN Glencore Xstra. Close Mid-Price: 486.7 Percentage Change: + 0.79% Day High: 490.45 Day Low: 481.85
Target met. Further movement against Glencore Xstra ABOVE 490.45 should i ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 262.8 Percentage Change: + 0.69% Day High: 264.1 Day Low: 261.1
Further movement against Natwest ABOVE 264.1 should improve acceleration ……..
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View Previous Natwest & Big Picture ***