#FTSE #DOW
The news Direct Line decided to cancel their share dividend due to “the weather” sounds almost too ridiculous to believe. Apparently the brief cold snap in December caught the company unawares, leading to a surprise increase in car accidents and household insurance claims. It’s ridiculous, because we are in the UK, a place where there’s weather!
When the largest motor insurer in the land manages to be caught out by the arrival of winter almost defies belief. It begs the question, have they been believing their own “climate change” hype at the cost of forgetting the seasons change? Obviously, they opted to blame “climate change” for the surge in claims, rather than admit what sounds like gross collective corporate stupidity. It’s winter, temperatures drop, rain falls, snow happens.
Pictured below, our garden waterfall today. The initial 7 metre drop looks quite energetic, roaring loudly in the background as I type. An annual job, in Autumn, is to clear up the stream bed and remove fallen branches, just in case a natural dam forms and floods the house. It’s common sense, because we anticipate rain in winter (edit: It’s Scotland, every other season too…) Quite how Direct Line were surprised by Winter making itself known during December. We’d always thought a fairly key part of the insurance industry was an ability to plan ahead and prepare but instead, they join good old British Rail of train cancellation fame with their favourite; “Services cancelled due to leafs on the track” in Autumn.
With Direct Line Insurance Group (DLG) now trading lower than 2012, we fear the worst is yet to come as visually, the market isn’t terribly impressed with their behaviour. At time of writing, they’re trading around 177p with a low of the day at 162p. And this was after the market manipulated (gapped) the share price down by 50p, all the way from 231p down to 181p in the opening second of trade.
We fear further bad weather may be ahead for DLG as below 162p now calculates with the potential of further leakage down to 111p and hopefully some sort of bounce. Our reasoning behind this comes from the ridiculous secondary target level of 34p, representing a point below which we cannot calculate. To be honest, while we suspect 111p may make an appearance, we’ve substantial doubts regarding our secondary at 34p as visually, nothing appears to back up this calculation, other than a miserable computer program.
For DLG to escape this little game of Climate Change monopoly, their share price needs closure above 235p, currently a pretty impossible looking task.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:00:34PM | BRENT | 83.04 | ‘cess | ||||||||
| 10:02:52PM | GOLD | 1876.67 | ‘cess | ||||||||
| 10:06:15PM | FTSE | 7754.19 | 7721 | 7709 | 7688 | 7751 | 7761 | 7790 | 7821 | 7736 | Success |
| 10:24:16PM | STOX50 | 4123 | Success | ||||||||
| 10:28:55PM | GERMANY | 15023 | |||||||||
| 10:30:52PM | US500 | 3971.77 | Success | ||||||||
| 10:35:07PM | DOW | 33998.8 | 33677 | 33543 | 33391 | 33786 | 34008 | 34096 | 34205 | 33738 | ‘cess |
| 10:59:40PM | NASDAQ | 11413.35 | |||||||||
| 11:01:54PM | JAPAN | 26527 | Success |
11/01/2023 FTSE Closed at 7724 points. Change of 0.39%. Total value traded through LSE was: £ 6,286,062,115 a change of 15.31%
10/01/2023 FTSE Closed at 7694 points. Change of -0.39%. Total value traded through LSE was: £ 5,451,478,270 a change of 2.33%
9/01/2023 FTSE Closed at 7724 points. Change of 0.32%. Total value traded through LSE was: £ 5,327,251,474 a change of 8.1%
6/01/2023 FTSE Closed at 7699 points. Change of 0.86%. Total value traded through LSE was: £ 4,928,257,963 a change of -18.51%
5/01/2023 FTSE Closed at 7633 points. Change of -100%. Total value traded through LSE was: £ 6,047,458,257 a change of 0%
4/01/2023 FTSE Closed at 7585 points. Change of 0%. Total value traded through LSE was: £ 5,484,169,808 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:BARC Barclays** **LSE:BLVN Bowleven** **LSE:DARK Darktrace Plc** **LSE:EZJ EasyJet** **LSE:HSBA HSBC** **LSE:IGAS Igas Energy** **LSE:IHG Intercontinental Hotels Group** **LSE:IQE IQE** **LSE:ITRK Intertek** **LSE:JET Just Eat** **LSE:MKS Marks and Spencer** **LSE:MMAG Music Magpie** **
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Updated charts published on : Barclays, Bowleven, Darktrace Plc, EasyJet, HSBC, Igas Energy, Intercontinental Hotels Group, IQE, Intertek, Just Eat, Marks and Spencer, Music Magpie,
LSE:BARC Barclays. Close Mid-Price: 173.54 Percentage Change: + 1.13% Day High: 174.4 Day Low: 171.04
Continued trades against BARC with a mid-price ABOVE 174.4 should improve ……..
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View Previous Barclays & Big Picture ***
LSE:BLVN Bowleven Close Mid-Price: 1.57 Percentage Change: -10.00% Day High: 1.75 Day Low: 1.57
Weakness on Bowleven below 1.57 will invariably lead to 1.25 with seconda ……..
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View Previous Bowleven & Big Picture ***
LSE:DARK Darktrace Plc Close Mid-Price: 250.7 Percentage Change: -14.55% Day High: 270 Day Low: 240
Continued weakness against DARK taking the price below 240 calculates as ……..
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View Previous Darktrace Plc & Big Picture ***
LSE:EZJ EasyJet. Close Mid-Price: 392.6 Percentage Change: + 0.00% Day High: 400.1 Day Low: 389.1
Continued trades against EZJ with a mid-price ABOVE 400.1 should improve ……..
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View Previous EasyJet & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 569.6 Percentage Change: + 0.98% Day High: 573 Day Low: 565.2
Continued trades against HSBA with a mid-price ABOVE 573 should improve t ……..
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View Previous HSBC & Big Picture ***
LSE:IGAS Igas Energy. Close Mid-Price: 23.5 Percentage Change: + 22.40% Day High: 24 Day Low: 20.4
Further movement against Igas Energy ABOVE 24 should improve acceleration ……..
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View Previous Igas Energy & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 5244 Percentage Change: + 0.96% Day High: 5262 Day Low: 5186
In the event of Intercontinental Hotels Group enjoying further trades bey ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:IQE IQE. Close Mid-Price: 57.2 Percentage Change: + 5.93% Day High: 57.6 Day Low: 54
Continued trades against IQE with a mid-price ABOVE 57.6 should improve t ……..
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View Previous IQE & Big Picture ***
LSE:ITRK Intertek. Close Mid-Price: 4297 Percentage Change: + 1.22% Day High: 4322 Day Low: 4232
In the event of Intertek enjoying further trades beyond 4322, the share s ……..
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View Previous Intertek & Big Picture ***
LSE:JET Just Eat. Close Mid-Price: 2083 Percentage Change: + 2.51% Day High: 2124 Day Low: 2050.5
Continued trades against JET with a mid-price ABOVE 2124 should improve t ……..
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View Previous Just Eat & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 143.4 Percentage Change: + 1.49% Day High: 146.3 Day Low: 141.7
Target met. Further movement against Marks and Spencer ABOVE 146.3 should ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:MMAG Music Magpie. Close Mid-Price: 37 Percentage Change: + 17.46% Day High: 37.7 Day Low: 31.5
This is irritating, we added this at the start of the week and promptly ig ……..
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View Previous Music Magpie & Big Picture ***