#FTSE #NASDAQ
There’s a song which includes the lyric “Get all the news I need on the weather report” *** but here in Argyll, Scotland, we just realised we’ve even stopped with weather reports. Instead, we glance at the moorings outside and count. A safe haven for the vehicle ferries, if none are tied up, winds should be light. If one ferry is parked, it’s going to be breezy and if two are moored, strong winds are expected. Seriously bad weather will bring in three or four vessels. The markets can produce similar clues.
On Monday 24th, we illustrated our expectations, when a price rises above the level of a previous trend break. It’s an easy “at a glance” tell tale, one which confirms why we often say “the trend isn’t important, what’s important is how a price reacts to a trend”. In this instance, what happened on Tuesday 25th provided a perfect case in point.
Five of the six world markets below had broken above their historic Pandemic uptrend break. As a result, we expected some positive movements and all obliged. The one which didn’t was the FTSE as it still needs exceed roughly 7200 points to enter happy territory. But currently, there’s no force allowing optimism and the UK market closed Monday at 7013 points, exactly the same level at which it closed Tuesday. Perhaps Wednesday may provide some gains, especially as there’s a bit of an argument suggesting other markets may run out of short term oomph. We shall know soon!
Rentokil Initial It’s amusing to note Rentokil didn’t actual break their Pandemic uptrend, perhaps an indication of some strength for the share price. We suspect this shall prove to be the case, probably in the near future.
Currently trading around 522p, the share price needs exceed 523p to hopefully trigger movement in the direction of an initial 546p. As the chart shows, this looks capable of challenging the immediate Blue downtrend, doubtless provoking some hesitation in any rise. In the even 546p is exceeded, our longer term secondary calculates at a future 571p. In this case, the secondary could easily prove game changing as a glance at the chart reveals it represents a new high for 2022. Or to be blunt, it dumps the share price into a region where a future 658p works out as a viable ambition. Given such a target level matches the high of 2021, it even makes a degree of sense but, to be fair, we’d demand seeing the share price actually close above 571p before daring to believe it’s real!
If things intend go wrong, the price moving below 460p would be required to give early warning of real trouble. Movement such as this calculates with the risk of reversal to an initial 420p with secondary, if broken, a bottom at 380p, ideally capable of providing a reasonable bounce.
For now, we suspect Rentokil intends head upward.
*** Simon & Garfunkel, The Only Living Boy In New York.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:53:54PM | BRENT | 91.63 | |||||||||
| 10:55:38PM | GOLD | 1653.35 | ‘cess | ||||||||
| 10:59:52PM | FTSE | 7000.67 | 6972 | 6961 | 6940 | 6995 | 7025 | 7039 | 7151 | 6985 | ‘cess |
| 11:02:16PM | STOX50 | 3567 | ‘cess | ||||||||
| 11:04:33PM | GERMANY | 13026 | ‘cess | ||||||||
| 11:07:28PM | US500 | 3823.62 | Success | ||||||||
| 11:10:43PM | DOW | 31752.4 | Success | ||||||||
| 11:13:07PM | NASDAQ | 11450 | 11382 | 11251 | 11106 | 11474 | 11686 | 11750 | 11873 | 11558 | Success |
| 11:17:05PM | JAPAN | 27440 | Success |
25/10/2022 FTSE Closed at 7013 points. Change of 0%. Total value traded through LSE was: £ 4,450,107,561 a change of -2.44%
24/10/2022 FTSE Closed at 7013 points. Change of 0.63%. Total value traded through LSE was: £ 4,561,328,828 a change of -1.86%
21/10/2022 FTSE Closed at 6969 points. Change of 0.37%. Total value traded through LSE was: £ 4,647,659,700 a change of -14.5%
20/10/2022 FTSE Closed at 6943 points. Change of 0.27%. Total value traded through LSE was: £ 5,436,111,933 a change of 16.23%
19/10/2022 FTSE Closed at 6924 points. Change of -0.17%. Total value traded through LSE was: £ 4,677,060,342 a change of 1.53%
18/10/2022 FTSE Closed at 6936 points. Change of 0.23%. Total value traded through LSE was: £ 4,606,547,755 a change of 0%
17/10/2022 FTSE Closed at 6920 points. Change of 0.9%. Total value traded through LSE was: £ 4,606,393,574 a change of -22.77%
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:CCL Carnival** **LSE:FOXT Foxtons** **LSE:HSBA HSBC** **LSE:IGG IG Group** **LSE:ITRK Intertek** **LSE:JET Just Eat** **LSE:OCDO Ocado Plc** **LSE:OXIG Oxford Instruments** **LSE:SCLP Scancell** **LSE:ZOO Zoo Digital** **
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Updated charts published on : Asos, Barrett Devs, Carnival, Foxtons, HSBC, IG Group, Intertek, Just Eat, Ocado Plc, Oxford Instruments, Scancell, Zoo Digital,
LSE:ASC Asos. Close Mid-Price: 589 Percentage Change: + 13.82% Day High: 611 Day Low: 518
Target met. Continued trades against ASC with a mid-price ABOVE 611 shoul ……..
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View Previous Asos & Big Picture ***
LSE:BDEV Barrett Devs. Close Mid-Price: 372.9 Percentage Change: + 3.24% Day High: 374.6 Day Low: 356.7
Target met. In the event of Barrett Devs enjoying further trades beyond 3 ……..
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View Previous Barrett Devs & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 656.8 Percentage Change: + 5.66% Day High: 655 Day Low: 628.8
All Carnival needs are mid-price trades ABOVE 655 to improve acceleration ……..
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View Previous Carnival & Big Picture ***
LSE:FOXT Foxtons Close Mid-Price: 27.75 Percentage Change: -1.77% Day High: 28.15 Day Low: 27.15
If Foxtons experiences continued weakness below 27.15, it will invariably ……..
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View Previous Foxtons & Big Picture ***
LSE:HSBA HSBC Close Mid-Price: 442.65 Percentage Change: -6.83% Day High: 460.3 Day Low: 436.2
Weakness on HSBC below 436.2 will invariably lead to 413 with secondary ( ……..
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View Previous HSBC & Big Picture ***
LSE:IGG IG Group. Close Mid-Price: 792.5 Percentage Change: + 3.93% Day High: 791.5 Day Low: 767
Continued trades against IGG with a mid-price ABOVE 791.5 should improve ……..
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View Previous IG Group & Big Picture ***
LSE:ITRK Intertek. Close Mid-Price: 3817 Percentage Change: + 1.44% Day High: 3819 Day Low: 3728
In the event of Intertek enjoying further trades beyond 3819, the share s ……..
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View Previous Intertek & Big Picture ***
LSE:JET Just Eat. Close Mid-Price: 1462.8 Percentage Change: + 10.90% Day High: 1465.4 Day Low: 1332.4
All Just Eat needs are mid-price trades ABOVE 1465 to improve acceleratio ……..
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View Previous Just Eat & Big Picture ***
LSE:OCDO Ocado Plc. Close Mid-Price: 504.8 Percentage Change: + 5.30% Day High: 504.6 Day Low: 469.1
Further movement against Ocado Plc ABOVE 504.6 should improve acceleratio ……..
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View Previous Ocado Plc & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 2005 Percentage Change: + 4.75% Day High: 2025 Day Low: 1906
Target met. In the event of Oxford Instruments enjoying further trades be ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 15.4 Percentage Change: + 17.33% Day High: 18.25 Day Low: 14.75
All Scancell needs are mid-price trades ABOVE 18.25 to improve accelerati ……..
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View Previous Scancell & Big Picture ***
LSE:ZOO Zoo Digital. Close Mid-Price: 157.5 Percentage Change: + 4.65% Day High: 160.5 Day Low: 150.5
Target met. Continued trades against ZOO with a mid-price ABOVE 160.5 sho ……..
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View Previous Zoo Digital & Big Picture ***