Easyjet EZJ.L and a Market tale.

#Gold #Nasdaq

Numbers are a funny old thing. Being quite capable of counting the quiet “ding” in an elevator as it goes past floors to knowing the count of “clunks until stop” from the tube track as a carriage approaches a station. Or my ongoing battle with microwaves, entering the correct number of seconds to ensure a soup mug handle is positioned perfectly when it finishes. But perhaps the thing which really drives my wife mad is my morning coffee.

It took an age but finally getting to the point where every coffee is “the perfect one” felt like a major achievement. After far too many years, I was able to leave behind the morning lottery which, maybe once every few months, produced a “perfect” coffee. Achieving this nirvana was, even by my own standards, quite ridiculous and involved experimenting with many types of coffee beans. The next stage was harder, discovering the perfect length of time to grind the beans, finally using the milk steamer to heat milk to the right, for my palate, temperature.

In the last few months, an issue developed. When prices started to rocket, something strange happened with coffee bean purchases as the quality started to prove variable. Three years of producing “the perfect” coffee every morning abruptly became a thing of the past as changes to the supply chain had thrown a spanner in the coffee mug. Chatting to the supplier was illuminating as it transpires other customers were grumbling. He’s investigating but suspects the issue may be coffee beans shipped by boat, rather than as air freight, with a resultant deteriorating in the quality of the product. What’s interesting about this (utterly ridiculous) First World problem is how price rises are changing everything.

Perhaps, with companies like Easyjet once again flying, we shall hopefully discover fresh coffee is again available as they inflict predatory pricing to dissuade customers from bringing luggage, leaving sufficient space in the hold for air cargo…

 

However, before looking at Easyjet, there’s another issue with numbers which we feel worthy of consideration.

2022’s Gain %ge Drop %ge
from 2020 pre-Covid from 2022’s high
Nasdaq 41% -33%
S&P 500 29% -25%
Wall St 22% -22%
FTSE 1% -11%
DAX 15% -13%
Euro Stoxx 12% -26%
UK Crude 48% -40%

 

There’s a constant rumble in the media suggesting market reversals are upon us but the table above illuminates something quite odd. Taking the Nasdaq as a case in point, from 2020’s pre-pandemic high, it rose from 9740 points up to 16740 points, an impressive rise of 41%. But since the start of 2022, it has fallen to a recent low of 10970 points, -33% from this years high. We’ve a sneaking suspicion index’ are all intending to settle around their pre-pandemic level, perhaps making an attempt at some stability. It was interesting, Wall St on Monday 3rd October celebrated being up 22% since 2020, then down 22% from its high, and experienced a day with gains sometimes over 3%. The market is now marginally below the pre-pandemic level (29,550 points) and we’re curious if we’re about to witness some surprise gains on some markets. Obviously, the Euro Stoxx 50 is a bit of an outlier in this theory, as is the FTSE but, for the FTSE, we’ve got local politicians attempting to destroy the country while they enact their versions of “a cunning plan”.

The above is certainly food for thought. We believe, should Wall St exceed 30,050 points anytime soon, threats of market collapse shall prove unfounded.

 

As for Easyjet, when we last reviewed the share price, we’d provided a drop target level at 334p. The share decided to play fair, dropping to our target level and successfully respecting it for a few months until mid-September, when on the 22nd of the month, the share was literally gapped down below our 334p level. This tended to prove we’d been monitoring the correct trend but made us wonder what the market was up to. Our secondary, below 334p, had been given as a silly looking 38p, a target we still have considerable difficulty in taking seriously.

If our suspicion is correct from our examination of market numbers above, perhaps Easyjet may be due a surprise era of price recovery. The immediate situation calculates with the potential of weakness below 277p being capable of 262p and hopefully a bounce. But we do need to concede the share price is trading in a region where ultimate bottom remains at our silly 38p.

Examining the other side of the coin, if a surprise recovery is indeed on the cards, above 292p theoretically should provoke an attempt at 319p initially with secondary, if bettered, a rather more encouraging 355p along with a heightened visual chance of some hesitation. We’d certainly wish to revisit the numbers at such a level, Easyjet needing share price closure above 355p to suggest game changing longer term potentials.

 

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:29:34PM BRENT 88.62 ‘cess
10:33:21PM GOLD 1699.99 1660 1645 1626 1675 1702 1704 1710 1684 Success
11:00:19PM FTSE 6913.12
11:02:15PM STOX50 3360.7 Success
11:04:30PM GERMANY 12253 Shambles
11:06:22PM US500 3685
11:08:40PM DOW 29526
11:10:56PM NASDAQ 11265 11102 11025 10933 11206 11308 11393 11580 11121
11:13:07PM JAPAN 26609 Success

 

3/10/2022 FTSE Closed at 6908 points. Change of 0.22%. Total value traded through LSE was: £ 5,411,543,289 a change of -20.03%
30/09/2022 FTSE Closed at 6893 points. Change of 0.17%. Total value traded through LSE was: £ 6,766,933,974 a change of -4.67%
29/09/2022 FTSE Closed at 6881 points. Change of -1.77%. Total value traded through LSE was: £ 7,098,757,750 a change of -12.95%
28/09/2022 FTSE Closed at 7005 points. Change of 0.3%. Total value traded through LSE was: £ 8,154,391,132 a change of 17.78%
27/09/2022 FTSE Closed at 6984 points. Change of -0.51%. Total value traded through LSE was: £ 6,923,595,633 a change of 5.34%
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%

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:BARC Barclays** **LSE:CASP Caspian** **LSE:CCL Carnival** **LSE:DARK Darktrace Plc** **LSE:EZJ EasyJet** **LSE:FGP Firstgroup** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:ITRK Intertek** **LSE:NG. National Glib** **LSE:OCDO Ocado Plc** **LSE:PPC President Energy** **LSE:SBRY Sainsbury** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:VOD Vodafone** **

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Updated charts published on : Aston Martin, Asos, Barclays, Caspian, Carnival, Darktrace Plc, EasyJet, Firstgroup, HSBC, British Airways, Intertek, National Glib, Ocado Plc, President Energy, Sainsbury, Scottish Mortgage Investment Trust, Vodafone,

LSE:AML Aston Martin Close Mid-Price: 109.85 Percentage Change: -8.08% Day High: 123.35 Day Low: 108.4

Weakness on Aston Martin below 108.4 will invariably lead to 102 with sec ……..

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LSE:ASC Asos. Close Mid-Price: 576.5 Percentage Change: + 1.32% Day High: 589 Day Low: 555.5

Target met. Continued weakness against ASC taking the price below 555.5 c ……..

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LSE:BARC Barclays. Close Mid-Price: 145.08 Percentage Change: + 0.54% Day High: 146.1 Day Low: 141.26

If Barclays experiences continued weakness below 141.26, it will invariab ……..

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LSE:CASP Caspian Close Mid-Price: 2.25 Percentage Change: -13.46% Day High: 2.6 Day Low: 2.08

Target met. In the event Caspian experiences weakness below 2.08 it calcu ……..

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LSE:CCL Carnival Close Mid-Price: 538.6 Percentage Change: -7.43% Day High: 560 Day Low: 509.4

Target met. Weakness on Carnival below 509.4 will invariably lead to 475 ……..

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LSE:DARK Darktrace Plc. Close Mid-Price: 302.6 Percentage Change: + 2.54% Day High: 306.3 Day Low: 287

Continued weakness against DARK taking the price below 287 calculates as ……..

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LSE:EZJ EasyJet Close Mid-Price: 287.8 Percentage Change: -2.90% Day High: 290.6 Day Low: 277

If EasyJet experiences continued weakness below 277, it will invariably l ……..

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LSE:FGP Firstgroup. Close Mid-Price: 106.5 Percentage Change: + 1.24% Day High: 106.7 Day Low: 100

Target met. In the event Firstgroup experiences weakness below 100 it cal ……..

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LSE:HSBA HSBC Close Mid-Price: 461.4 Percentage Change: -1.26% Day High: 463.15 Day Low: 453.5

Target met. Continued weakness against HSBA taking the price below 453.5 ……..

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LSE:IAG British Airways Close Mid-Price: 93.66 Percentage Change: -1.07% Day High: 95.68 Day Low: 90.48

In the event British Airways experiences weakness below 90.48 it calcula ……..

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LSE:ITRK Intertek Close Mid-Price: 3674 Percentage Change: -0.89% Day High: 3702 Day Low: 3583

Target met. In the event Intertek experiences weakness below 3583 it calc ……..

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LSE:NG. National Glib. Close Mid-Price: 933.4 Percentage Change: + 0.26% Day High: 939.2 Day Low: 917

Continued weakness against NG. taking the price below 917 calculates as l ……..

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LSE:OCDO Ocado Plc Close Mid-Price: 465.7 Percentage Change: -1.44% Day High: 473.7 Day Low: 439.5

Weakness on Ocado Plc below 439.5 will invariably lead to 421 with second ……..

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LSE:PPC President Energy Close Mid-Price: 165 Percentage Change: -5.71% Day High: 175 Day Low: 165

I’m ignoring this until I get historical data through which is adjusted fo ……..

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LSE:SBRY Sainsbury. Close Mid-Price: 176.55 Percentage Change: + 1.29% Day High: 177.05 Day Low: 171.85

In the event Sainsbury experiences weakness below 171.85 it calculates wi ……..

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LSE:SMT Scottish Mortgage Investment Trust Close Mid-Price: 748.8 Percentage Change: -4.29% Day High: 766.2 Day Low: 744

In the event Scottish Mortgage Investment Trust experiences weakness belo ……..

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LSE:VOD Vodafone. Close Mid-Price: 103.72 Percentage Change: + 2.57% Day High: 104.78 Day Low: 99.63

Weakness on Vodafone below 99.63 will invariably lead to 93 with secondar ……..

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

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