#Gold #Stoxx50
It’s sometimes the case we dislike a company, simply due to their name. The current incarnation of British Airways, ‘International Consolidated Airlines Group’ is one such iteration, a complete nuisance to type repeatedly in an article. Most folk opt to use their share code, IAG, to refer to the company. GlaxoSmithKline was another such but in this instance, I think we’d all thought of them as GSK for years.
When they finally bowed to the inevitable and renamed themselves GSK in June this year, the cost of cleaning the longer lettering from their original name must have proven extraordinary as there was no way their shorter, sharper, new logo would ever cover up the original letters.
However, the company did something else which, from our numbers focus, was unforgivable. On the 18th July, following their demerger of Haleon and the introduction of Haleon Group to the marketplace, GSK enacted a mildly complex share consolidation. By the 19th, with share price values known, the actual level of the consolidation known, it was a case of 4 “new” shares for every 5 existing shares. This should have created a relatively minor bump in the share price but the markets appear to be experiencing some difficulty getting their head around it and things are a little messy.
The immediate situation feels quite toxic (probably a bad word to use around a drug company) as weakness below just 1370p risks promoting reversal down to 1221p next. At this level, we’ve two distinctly separate arguments favouring a bounce and a third argument, that inner hysterical voice, pleading for the initial arguments to be correct, because our secondary calculation works out at a ridiculous looking 770p.
To get out of trouble, thankfully GSK only require exceed 1564 to give some hope as such a level calculates as possibly triggering recovery to 1700p. If exceeded, our longer term secondary works out at 1960p, again visually sensible.
For now, we fear GSK intends a visit to the 1220p level.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:54:12PM | BRENT | 98.12 | |||||||||
| 10:01:57PM | GOLD | 1724 | 1720 | 1717 | 1701 | 1730 | 1749 | 1754 | 1758 | 1742 | |
| 10:06:31PM | FTSE | 7339.28 | No | clear | ideas | Success | |||||
| 10:10:24PM | STOX50 | 3554.8 | 3538 | 3530 | 3497 | 3560 | 3571 | 3577 | 3590 | 3551 | Success |
| 10:13:09PM | GERMANY | 12928 | Success | ||||||||
| 10:38:19PM | US500 | 3985 | |||||||||
| 10:44:38PM | DOW | 31771 | Shambles | ||||||||
| 10:46:26PM | NASDAQ | 12352 | |||||||||
| 10:48:26PM | JAPAN | 27917 |
30/08/2022 FTSE Closed at 7361 points. Change of -0.89%. Total value traded through LSE was: £ 6,438,857,207 a change of 48.05%
26/08/2022 FTSE Closed at 7427 points. Change of -0.7%. Total value traded through LSE was: £ 4,349,079,886 a change of 12.01%
25/08/2022 FTSE Closed at 7479 points. Change of 0.11%. Total value traded through LSE was: £ 3,882,636,574 a change of -18.23%
24/08/2022 FTSE Closed at 7471 points. Change of -0.23%. Total value traded through LSE was: £ 4,748,027,124 a change of -4.63%
23/08/2022 FTSE Closed at 7488 points. Change of -0.6%. Total value traded through LSE was: £ 4,978,434,617 a change of 0.1%
22/08/2022 FTSE Closed at 7533 points. Change of -0.23%. Total value traded through LSE was: £ 4,973,471,266 a change of -16.58%
19/08/2022 FTSE Closed at 7550 points. Change of -100%. Total value traded through LSE was: £ 5,961,629,196 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:ASC Asos** **LSE:BP. BP PLC** **LSE:BT.A British Telecom** **LSE:CNA Centrica** **LSE:CPI Capita** **LSE:GKP Gulf Keystone** **LSE:HIK Hikma** **LSE:IGAS Igas Energy** **LSE:ITRK Intertek** **LSE:MKS Marks and Spencer** **LSE:RR. Rolls Royce** **LSE:SDY Speedyhire** **
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Updated charts published on : Asos, BP PLC, British Telecom, Centrica, Capita, Gulf Keystone, Hikma, Igas Energy, Intertek, Marks and Spencer, Rolls Royce, Speedyhire,
LSE:ASC Asos. Close Mid-Price: 717.5 Percentage Change: + 2.94% Day High: 736.5 Day Low: 689.5
If Asos experiences continued weakness below 689.5, it will invariably le ……..
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View Previous Asos & Big Picture ***
LSE:BP. BP PLC Close Mid-Price: 449.25 Percentage Change: -1.87% Day High: 469.6 Day Low: 447
Target met. Continued trades against BP. with a mid-price ABOVE 469.6 sho ……..
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View Previous BP PLC & Big Picture ***
LSE:BT.A British Telecom. Close Mid-Price: 151.85 Percentage Change: + 0.26% Day High: 153.7 Day Low: 150.8
Weakness on British Telecom below 150.8 will invariably lead to 144 with ……..
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View Previous British Telecom & Big Picture ***
LSE:CNA Centrica Close Mid-Price: 76.56 Percentage Change: -6.59% Day High: 82.06 Day Low: 75.98
Continued weakness against CNA taking the price below 75.98 calculates as ……..
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View Previous Centrica & Big Picture ***
LSE:CPI Capita. Close Mid-Price: 25.08 Percentage Change: + 0.32% Day High: 25.76 Day Low: 24.18
Weakness on Capita below 24.18 will invariably lead to 20.5 with secondar ……..
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View Previous Capita & Big Picture ***
LSE:GKP Gulf Keystone Close Mid-Price: 239.5 Percentage Change: -8.06% Day High: 269 Day Low: 238
Target met. All Gulf Keystone needs are mid-price trades ABOVE 269 to imp ……..
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View Previous Gulf Keystone & Big Picture ***
LSE:HIK Hikma Close Mid-Price: 1319.5 Percentage Change: -1.24% Day High: 1351.5 Day Low: 1318.5
Target met. Weakness on Hikma below 1318.5 will invariably lead to 1241 w ……..
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View Previous Hikma & Big Picture ***
LSE:IGAS Igas Energy. Close Mid-Price: 90.8 Percentage Change: + 2.02% Day High: 101 Day Low: 85
Target met. Further movement against Igas Energy ABOVE 101 should improve ……..
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View Previous Igas Energy & Big Picture ***
LSE:ITRK Intertek Close Mid-Price: 4005 Percentage Change: -0.40% Day High: 4073 Day Low: 3976
Weakness on Intertek below 3976 will invariably lead to 3901 with seconda ……..
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View Previous Intertek & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 122.05 Percentage Change: + 1.45% Day High: 124.65 Day Low: 118.8
In the event Marks and Spencer experiences weakness below 118.8 it calcul ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:RR. Rolls Royce Close Mid-Price: 78.2 Percentage Change: -0.36% Day High: 80.1 Day Low: 77.4
If Rolls Royce experiences continued weakness below 77.4, it will invaria ……..
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View Previous Rolls Royce & Big Picture ***
LSE:SDY Speedyhire Close Mid-Price: 41 Percentage Change: -2.50% Day High: 42.2 Day Low: 40.5
Weakness on Speedyhire below 40.5 will invariably lead to 38.8p with seco ……..
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View Previous Speedyhire & Big Picture ***