#Brent #Stoxx50
When we reviewed Metro Bank in August last year, something quite fascinating happened thereafter. In November, the share price surged upward, hitting our primary and secondary targets but crucially, failed to close the session above our secondary target of 142p. It was all a bit strange, almost feeling like “it had” to get to 142p but this was really just to establish a trend.
It almost didn’t matter, ‘cos a couple of weeks later, the market decided “okay, you’ve had your day in the sun. But you’re a Retail Bank, so get back in the gutter!” It was all very strange behaviour.
Since the price was manipulated (gapped) downward on November 18th last year, one this has become pretty clear. In the unlikely event of Metro Bank now trading below 71p, we suspect quite strongly the share price shall “bottom” at 57p and hopefully enact a proper bounce. However, share price movements during August tend make us question whether reversals should be expected, especially as across the retail banking sector, the general mood feels like “restrained optimism”. Or in plain English, the banks feel like they want to go up, but, perhaps due to August, perhaps Ukraine, perhaps Brexit, or perhaps the unbelievable excitement generated by the UK leadership election, all seem to be contributing to this particular market sector remaining pretty flat and boring.
For Metro Bank, we suspect they shall prove worthy of attention, if the share price stumbles above 96p as we can calculate the potential of a lift to an initial 112p next. If bettered, our secondary works out at 138p, a concerning ambition as it’s marginally below the previous high. However, this calculation does give the share price the chance of closing above the previous high closing price of 133p. It shall be interesting, if history again repeats itself at the start of November.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:26:31PM | BRENT | 95.44 | 93.4 | 92.13 | 90.36 | 95 | 97.44 | 97.67 | 98.93 | 95.68 | |
| 10:28:56PM | GOLD | 1747.46 | |||||||||
| 10:30:34PM | FTSE | 7547.54 | |||||||||
| 9:50:54PM | STOX50 | 3726.7 | 3717 | 3709 | 3671 | 3737 | 3772 | 3789 | 3813 | 3751 | Success |
| 9:53:52PM | GERMANY | 13531 | ‘cess | ||||||||
| 9:57:12PM | US500 | 4229 | ‘cess | ||||||||
| 10:01:33PM | DOW | 33707 | ‘cess | ||||||||
| 10:04:23PM | NASDAQ | 13245.07 | Success | ||||||||
| 10:06:48PM | JAPAN | 28745 | ‘cess |
19/08/2022 FTSE Closed at 7550 points. Change of 0.12%. Total value traded through LSE was: £ 5,961,629,196 a change of 29.52%
18/08/2022 FTSE Closed at 7541 points. Change of 0.35%. Total value traded through LSE was: £ 4,602,765,684 a change of 0.38%
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%
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:AZN Astrazeneca** **LSE:BP. BP PLC** **LSE:DARK Darktrace Plc** **LSE:DGE Diageo** **LSE:HIK Hikma** **LSE:ITM ITM Power** **LSE:JET Just Eat** **
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Updated charts published on : Asos, Astrazeneca, BP PLC, Darktrace Plc, Diageo, Hikma, ITM Power, Just Eat,
LSE:ASC Asos Close Mid-Price: 765 Percentage Change: -5.56% Day High: 828 Day Low: 759
Target Met. This is really not looking happy with weakness next below 759 ……..
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View Previous Asos & Big Picture ***
LSE:AZN Astrazeneca. Close Mid-Price: 11250 Percentage Change: + 2.14% Day High: 11292 Day Low: 10978
All Astrazeneca needs are mid-price trades ABOVE 11295 to improve accelera ……..
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View Previous Astrazeneca & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 447.8 Percentage Change: + 1.31% Day High: 449.9 Day Low: 441.65
ll BP PLC needs are mid-price trades ABOVE 450 to improve acceleration tow ……..
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View Previous BP PLC & Big Picture ***
LSE:DARK Darktrace Plc. Close Mid-Price: 544 Percentage Change: + 0.29% Day High: 559.6 Day Low: 509.2
Continued trades against DARK with a mid-price ABOVE 560 should improve th ……..
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View Previous Darktrace Plc & Big Picture ***
LSE:DGE Diageo. Close Mid-Price: 3960 Percentage Change: + 1.47% Day High: 3957 Day Low: 3888.5
Target Met. Continued exploration above 3960 now points at the potential o ……..
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View Previous Diageo & Big Picture ***
LSE:HIK Hikma Close Mid-Price: 1438.5 Percentage Change: -0.17% Day High: 1448 Day Low: 1424
If Hikma experiences continued weakness below 1424, it will invariably lea ……..
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View Previous Hikma & Big Picture ***
LSE:ITM ITM Power Close Mid-Price: 204.5 Percentage Change: -4.04% Day High: 215.8 Day Low: 201
Weakness on ITM Power below 201 will invariably now lead to 182 with secon ……..
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View Previous ITM Power & Big Picture ***
LSE:JET Just Eat. Close Mid-Price: 1781.6 Percentage Change: + 26.73% Day High: 2055 Day Low: 1720
Target Met. That was a bit of a surprise but, it appears the market intend ……..
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View Previous Just Eat & Big Picture ***