#Gold #Dax
It makes sense to finish our unintended series about Gold with a look at Scotgold, along with a leading manufacturer of metal detecting equipment which is listed on the Australian exchange. We received a few emails suggest we try metal detecting our stream. Needless to say, a detector was purchased some time ago and every year, it proves extraordinarily useful.
The particular detector (okay, it was a Xmas present) is able to detect Gold and is also able to operate under water, making it ideal to work the garden stream. We quickly ascertained the easiest way to operate it as the machine has an astonishing vocal range, putting 1980’s computer modems to shame. It was simply a matter of tossing my wife’s jewellery in the stream, then fiddling with the controls until the right tone was discovered which signified Gold, another recognising Silver, and yet another identifying a bracelet I’d bought which gave an identical tone to that broadcast from a 50p coin…
Once the jewellery was dried off and returned, it was time for Wellington boots and a slow, methodical, plod up the stream gulley. Sometimes, the most simple jobs have a way of expanding and this “fun” exercise proved no different than any other. The gulley was pretty impassable in places, bramble bushes growing across at face level and quite a few rhododendron bushes also demanding any Gold detecting be carried out while kneeling in the water. Obviously, it was chainsaw time until a discrete pampas grass fouled the machine, stopping it completely until the chain was removed and the indestructible plant removed. An entire day was wasted, attempting to clear an easy path to enable a decent search. The following morning, another attempt allowed about 20 yards of stream bed to be scanned, revealing absolutely nothing except some rusty nails. Inevitably, it rained, and the detector made its way into the boiler room, forgotten until a particular event every year.
Our lawn has one of the spinning clothes drier things, removed into the shed over winter. By the time it’s remembered the following year, the grass has completely overgrown the hole the spiny thing fits into but we’ve a solution. The metal detector is removed from its lair, its batteries are charged, and within a couple of minutes, the metal sleeve for the clothes drier has again been discovered. Our theory about its inability to detect Gold in the stream is two-fold. Firstly, there probably isn’t any and if there is, the detector is unable to identify particles of the metal which are smaller than a grain of sand. A detector apparently likes to discover nuggets of Gold, not tiny flakes which have been ground down by millennia of rushing water coming down the mountain behind our house.
Scottish Gold miner, Scotgold, are not far from us and claim to have around 4 tons of Gold hiding in their mountain at Tyndrum, Argyll. Their production figures for this year have been impressive and we’ll admit, we’d completely forgotten about the Silver extraction potentials.
Visually, the markets don’t seem terribly impressed with the company share price doing very little since 2021. Hopefully, at some point the markets pay attention to the quantity now being extracted from the ground with a commensurate change in the share price value. At present, above 71p looks capable of triggering movement to an initial 80p with our secondary, should this level be exceeded, working out at a more useful 94p. From a longer term perspective, both these movements are liable to prove useful, exceeding the Blue downtrend since 2011 and giving considerable hope for the future.
If things intend go horribly wrong, always a possibility with world Gold prices behaving irrationally, below just 59.16p looks troubling, calculating with the potential of provoking reversals to an initial 51 with secondary, if broken, down at 35p.
Codan Ltd (ASX:CDA) From a glance at their website, Codan appear to be producing professional detection equipment for the mining industry, rather than the type of machine used in our back garden. But we still doubt they would have detected the 6 grains of powdered gold discovered last week!
Their share price is looking a little problematic currently, suggesting weakness continuing below 6 Aus dollars risks promoting reversal down to 4.57 and hopefully a proper bounce. There is a serious problem should the 4.57 level break as the share price enters a zone with an ultimate bottom down at an eventual 0.77 Aus dollars.
However, the price only needs exceed 6.8 to give some immediate hope, apparently capable of triggering moves to an initial 8.5 with secondary, if bettered, at 9.9 Aus dollars. For now, we think it intends a visit to 4.57.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:00:55PM | BRENT | 93.85 | Success | ||||||||
| 10:08:09PM | GOLD | 1724.85 | 1721 | 1717 | 1711 | 1729 | 1735 | 1740 | 1749 | 1725 | ‘cess |
| 10:11:07PM | FTSE | 7470 | Success | ||||||||
| 10:13:40PM | STOX50 | 3654 | ‘cess | ||||||||
| 10:16:25PM | GERMANY | 13441 | 13224 | 13179 | 13090 | 13324 | 13446 | 13480 | 13523 | 13344 | Success |
| 10:18:32PM | US500 | 4119.57 | ‘cess | ||||||||
| 10:51:38PM | DOW | 32425 | Success | ||||||||
| 10:53:43PM | NASDAQ | 12771 | Success | ||||||||
| 10:56:28PM | JAPAN | 28571 | ‘cess |
12/09/2022 FTSE Closed at 7473 points. Change of 1.66%. Total value traded through LSE was: £ 5,944,877,720 a change of 11.08%
9/09/2022 FTSE Closed at 7351 points. Change of 1.23%. Total value traded through LSE was: £ 5,351,894,776 a change of 1.51%
8/09/2022 FTSE Closed at 7262 points. Change of 0.35%. Total value traded through LSE was: £ 5,272,168,524 a change of -28.82%
7/09/2022 FTSE Closed at 7237 points. Change of -0.86%. Total value traded through LSE was: £ 7,407,245,342 a change of 30.74%
6/09/2022 FTSE Closed at 7300 points. Change of 0.18%. Total value traded through LSE was: £ 5,665,778,730 a change of 28.88%
5/09/2022 FTSE Closed at 7287 points. Change of 0.08%. Total value traded through LSE was: £ 4,396,051,138 a change of -10.86%
2/09/2022 FTSE Closed at 7281 points. Change of 1.86%. Total value traded through LSE was: £ 4,931,431,269 a change of -2.21%
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:AML Aston Martin** **LSE:ASC Asos** **LSE:BLVN Bowleven** **LSE:LLOY Lloyds Grp.** **LSE:NWG Natwest** **LSE:RBD Reabold Resources PLC** **
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Updated charts published on : Aston Martin, Asos, Bowleven, Lloyds Grp., Natwest, Reabold Resources PLC,
LSE:AML Aston Martin Close Mid-Price: 172.75 Percentage Change: -64.22% Day High: 203.1 Day Low: 160.1
Target Met. The damage to AML’s share price, obviously self inflicted than ……..
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LSE:ASC Asos. Close Mid-Price: 725 Percentage Change: + 7.65% Day High: 738.5 Day Low: 663
This is almost interesting as above 740 now calculates with a recovery pot ……..
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LSE:BLVN Bowleven Close Mid-Price: 4 Percentage Change: -11.11% Day High: 4.5 Day Low: 3.6
This is difficult as “they” are just playing with the spread, attempting t ……..
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LSE:LLOY Lloyds Grp.. Close Mid-Price: 46.96 Percentage Change: + 2.13% Day High: 47.13 Day Low: 46.05
Target met. In the event of Lloyds Grp. enjoying further trades beyond 47 ……..
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View Previous Lloyds Grp. & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 269.5 Percentage Change: + 3.34% Day High: 269.6 Day Low: 261.9
Target met. All Natwest needs are mid-price trades ABOVE 269.6 to improve ……..
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LSE:RBD Reabold Resources PLC. Close Mid-Price: 0.49 Percentage Change: + 1.03% Day High: 0.53 Day Low: 0.48
Further movement against Reabold Resources PLC ABOVE 0.53 should improve ……..
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View Previous Reabold Resources PLC & Big Picture ***