Finsbury Growth and Income Trust Plc (LSE:FGT)

#Gold #SP500

It was a pleasure to read the headline blurb in Finsbury’s “About Us” section on their website. It was a master class in no-nonsense PR writing, completely avoiding buzz words, terminology invented by committee think, or meaningless guff. About our only complaint was the use of a 54 word sentence but conversely, it managed to be readable!

Due to our job, we read rather a lot of creative website descriptions and are often guilty of forming an instant dislike toward a company and their products, due to a plethora of guff. But with Finsbury, our kneejerk reaction was to nod approval at the sense of solid stability generated by their unashamedly big sentence. In the investment sector, this is how it should be, justifying our distain toward those companies who trumpet their credentials in the Blockchain and Crypto fields.

 

With regard the company share price, we’re currently a little less enthusiastic as weakness below 798p looks perfectly capable of provoking reversal to an initial 780p with secondary, if broken, at 742p. The secondary is something of a concern as it has the potential of taking the price below the Red uptrend since the pandemic drop of 2020. This creates the situation where should 742p break, we shall be forced to introduce 678p as a longer term drop target.

However, we note the share price need only close a session above 820p to nonsense these drop potentials.

On a brighter note, the share price moving above 850p will be taken as significant, allowing price recovery to an initial 885p with secondary, if beaten, at 935p. Such a price level meets a natural high which has formed since 2019 and hopefully, this time with a 3rd jab at the level will finally allow an upward attempt at a new all time high, calculating at an eventual 1058p.

Alas, with the feel of the markets at present, we suspect this FTSE 250 component shall be doomed to visit the 742p level.

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:30:20PM BRENT 82.78 ‘cess
9:32:21PM GOLD 1622.51 1621 1614 1603 1631 1649 1661 1674 1639 ‘cess
9:33:56PM FTSE 7002.07
9:35:40PM STOX50 3342.4
9:37:28PM GERMANY 12216
9:39:06PM US500 3654.12 3643 3626 3596 3676 3716 3736 3767 3687
9:40:46PM DOW 29268
9:42:39PM NASDAQ 11253
9:44:35PM JAPAN 26548

 

26/09/2022 FTSE Closed at 7020 points. Change of 0.03%. Total value traded through LSE was: £ 6,572,681,049 a change of 1.53%
23/09/2022 FTSE Closed at 7018 points. Change of -1.97%. Total value traded through LSE was: £ 6,473,438,666 a change of 23.11%
22/09/2022 FTSE Closed at 7159 points. Change of -1.08%. Total value traded through LSE was: £ 5,258,363,393 a change of -10.68%
21/09/2022 FTSE Closed at 7237 points. Change of 0.63%. Total value traded through LSE was: £ 5,887,379,129 a change of 9.29%
20/09/2022 FTSE Closed at 7192 points. Change of -0.61%. Total value traded through LSE was: £ 5,386,737,074 a change of -59.64%
16/09/2022 FTSE Closed at 7236 points. Change of -0.63%. Total value traded through LSE was: £ 13,346,961,271 a change of 170.28%
15/09/2022 FTSE Closed at 7282 points. Change of -100%. Total value traded through LSE was: £ 4,938,182,265 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:BDEV Barrett Devs** **LSE:BT.A British Telecom** **LSE:CASP Caspian** **LSE:EZJ EasyJet** **LSE:GENL Genel** **LSE:GKP Gulf Keystone** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:NG. National Glib** **LSE:PHP Primary Health** **LSE:RMG Royal Mail** **LSE:SBRY Sainsbury** **LSE:TSCO Tesco** **LSE:TW. Taylor Wimpey** **LSE:VOD Vodafone** **

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Updated charts published on : Asos, Barrett Devs, British Telecom, Caspian, EasyJet, Genel, Gulf Keystone, HSBC, British Airways, National Glib, Primary Health, Royal Mail, Sainsbury, Tesco, Taylor Wimpey, Vodafone,

LSE:ASC Asos. Close Mid-Price: 625 Percentage Change: + 3.99% Day High: 625.5 Day Low: 581

Weakness on Asos below 581 will invariably lead to 559 with secondary 494 ……..

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View Previous Asos & Big Picture ***

LSE:BDEV Barrett Devs Close Mid-Price: 385.2 Percentage Change: -5.12% Day High: 400.9 Day Low: 383.9

Target met. If Barrett Devs experiences continued weakness below 383.9, i ……..

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View Previous Barrett Devs & Big Picture ***

LSE:BT.A British Telecom Close Mid-Price: 127.7 Percentage Change: -1.66% Day High: 130.05 Day Low: 125.85

Target met. Weakness on British Telecom below 125.85 will invariably lead ……..

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View Previous British Telecom & Big Picture ***

LSE:CASP Caspian. Close Mid-Price: 3 Percentage Change: + 1.69% Day High: 3.15 Day Low: 2.85

If Caspian experiences continued weakness below 2.85, it will invariably ……..

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View Previous Caspian & Big Picture ***

LSE:EZJ EasyJet Close Mid-Price: 301.6 Percentage Change: -1.63% Day High: 309.1 Day Low: 294.4

Continued weakness against EZJ taking the price below 294.4 calculates as ……..

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View Previous EasyJet & Big Picture ***

LSE:GENL Genel Close Mid-Price: 121 Percentage Change: -2.26% Day High: 122.6 Day Low: 116.4

In the event Genel experiences weakness below 116.4 it calculates with a ……..

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LSE:GKP Gulf Keystone Close Mid-Price: 197.4 Percentage Change: -1.10% Day High: 199.8 Day Low: 190

If Gulf Keystone experiences continued weakness below 190, it will invari ……..

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View Previous Gulf Keystone & Big Picture ***

LSE:HSBA HSBC Close Mid-Price: 501.6 Percentage Change: -1.65% Day High: 506 Day Low: 492

Weakness on HSBC below 492 will invariably lead to 464 and a hopeful boun ……..

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View Previous HSBC & Big Picture ***

LSE:IAG British Airways. Close Mid-Price: 101.26 Percentage Change: + 0.94% Day High: 102.68 Day Low: 98.98

If British Airways experiences continued weakness below 98.98, it will i ……..

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View Previous British Airways & Big Picture ***

LSE:NG. National Glib Close Mid-Price: 988.2 Percentage Change: -2.45% Day High: 1016 Day Low: 970

If National Glib experiences continued weakness below 970, it will invari ……..

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View Previous National Glib & Big Picture ***

LSE:PHP Primary Health Close Mid-Price: 116.5 Percentage Change: -3.32% Day High: 122.5 Day Low: 115.5

Target met. Weakness on Primary Health below 115.5 will invariably lead t ……..

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View Previous Primary Health & Big Picture ***

LSE:RMG Royal Mail Close Mid-Price: 195.85 Percentage Change: -0.31% Day High: 199.85 Day Low: 192.95

In the event Royal Mail experiences weakness below 192.95 it calculates w ……..

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View Previous Royal Mail & Big Picture ***

LSE:SBRY Sainsbury Close Mid-Price: 191.45 Percentage Change: -0.78% Day High: 195 Day Low: 190.1

Target met. If Sainsbury experiences continued weakness below 190.1, it w ……..

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View Previous Sainsbury & Big Picture ***

LSE:TSCO Tesco Close Mid-Price: 217.6 Percentage Change: -1.18% Day High: 221.4 Day Low: 215.1

Target met. Weakness on Tesco below 215.1 will invariably lead to 211 wit ……..

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View Previous Tesco & Big Picture ***

LSE:TW. Taylor Wimpey Close Mid-Price: 95.84 Percentage Change: -7.09% Day High: 101.05 Day Low: 95.26

Target met. If Taylor Wimpey experiences continued weakness below 95.26, ……..

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View Previous Taylor Wimpey & Big Picture ***

LSE:VOD Vodafone Close Mid-Price: 106.66 Percentage Change: -1.35% Day High: 109.8 Day Low: 105.68

Continued weakness against VOD taking the price below 105.68 calculates a ……..

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View Previous Vodafone & Big Picture ***

*** End of “Updated Today” comments on shares.

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