Persimmon Plc (LSE:PSN) hotting up?

#FTSE #Nasdaq

Before we dig into Persimmon, along with the wider construction industry, it’s maybe worth mentioning it looks like folk will be able to heat their home! The price of Natural Gas, which has been falling all year (okay, the last 12 sessions) has become interesting, now reaching levels last seen in June 2021. Hopefully, this shall drive energy prices down, along with the rate of inflation, as gas looks capable of returning to its historical trading range.

Currently trading around 3.445USD, it appears a bucket of Natural Gas (or however it’s priced) fetching below $3.3 risks promoting reversal down to 2.65 next with secondary, if broken, an improbable looking long term 1.07 dollars. Perhaps the Ukraine thing shall decide to stick its oar in to spoil the logic pointing at reversals. Natural Gas requires above $4.60 to cancel the reversal argument.

 

As for Persimmon, our inclination is toward some optimism for their share price. After all, if people can afford to heat their house, perhaps they shall also be inclined to buy a new one. Aligning with this theory, it appears the construction industry index, the catchy named FTSE:NMW501010 is doing all the right things, even trading above is level pre-pandemic. If things go in accordance with other indices, this market (presently trading around 7600 points) is heading toward an eventual 8,500 points, a level at which we shall need revisit the numbers.

With the builder trading around 1427p at present, above 1445p looks capable of triggering a lift to 1645p next, coming close to regaining the Red uptrend which dates back to 2009. Above 1645p, our secondary calculates at a longer term 1911p, a price level where the visuals almost certainly mandate some hesitation. For the distant future to become rosy, share price closure above 1911 shall be regarded as sufficient reason to once again stare hard at the tea leaves as considerable strength allegedly becomes available.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:29:01PM BRENT 86.75 Success
9:58:46PM GOLD 1909.26 ‘cess
10:01:08PM FTSE 7849 7828 7811 7789 7862 7877 7889 7909 7841 Shambles
10:03:34PM STOX50 4179.6 Shambles
10:06:07PM GERMANY 15185.32
10:07:57PM US500 3991.82
10:10:01PM DOW 33894.5 Success
10:11:30PM NASDAQ 11556.97 11467 11409 11338 11530 11589 11630 11693 11518
10:14:10PM JAPAN 26296

 

17/01/2023 FTSE Closed at 7851 points. Change of -0.11%. Total value traded through LSE was: £ 6,501,128,630 a change of 48.1%
16/01/2023 FTSE Closed at 7860 points. Change of 0.2%. Total value traded through LSE was: £ 4,389,692,147 a change of -22.72%
13/01/2023 FTSE Closed at 7844 points. Change of 0.64%. Total value traded through LSE was: £ 5,680,414,260 a change of -0.9%
12/01/2023 FTSE Closed at 7794 points. Change of 0.91%. Total value traded through LSE was: £ 5,732,068,747 a change of -8.81%
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%

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:BT.A British Telecom** **LSE:CASP Caspian** **LSE:EMG MAN** **LSE:GRG Greggs** **LSE:HSBA HSBC** **LSE:IHG Intercontinental Hotels Group** **LSE:ITRK Intertek** **LSE:MKS Marks and Spencer** **LSE:NWG Natwest** **LSE:OXIG Oxford Instruments** **LSE:POLY Polymetal** **

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Updated charts published on : British Telecom, Caspian, MAN, Greggs, HSBC, Intercontinental Hotels Group, Intertek, Marks and Spencer, Natwest, Oxford Instruments, Polymetal,

LSE:BT.A British Telecom. Close Mid-Price: 132.2 Percentage Change: + 1.46% Day High: 132.45 Day Low: 129.9

Further movement against British Telecom ABOVE 132.45 should improve acce ……..

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LSE:CASP Caspian. Close Mid-Price: 5.45 Percentage Change: + 5.83% Day High: 5.55 Day Low: 5.15

Target met. All Caspian needs are mid-price trades ABOVE 5.55 to improve ……..

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LSE:EMG MAN Close Mid-Price: 236.9 Percentage Change: -0.29% Day High: 239.9 Day Low: 235.8

Further movement against MAN ABOVE 239.9 should improve acceleration towa ……..

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LSE:GRG Greggs. Close Mid-Price: 2580 Percentage Change: + 0.00% Day High: 2586 Day Low: 2528

As normality continues to raise its ugly head and folk return to the offic ……..

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LSE:HSBA HSBC Close Mid-Price: 591.2 Percentage Change: -0.82% Day High: 596.7 Day Low: 589.1

Further movement against HSBC ABOVE 596.7 should improve acceleration tow ……..

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LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 5460 Percentage Change: + 0.66% Day High: 5496 Day Low: 5408

In the event of Intercontinental Hotels Group enjoying further trades bey ……..

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LSE:ITRK Intertek. Close Mid-Price: 4379 Percentage Change: + 0.09% Day High: 4397 Day Low: 4340

All Intertek needs are mid-price trades ABOVE 4397 to improve acceleratio ……..

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LSE:MKS Marks and Spencer. Close Mid-Price: 150.9 Percentage Change: + 0.53% Day High: 152.5 Day Low: 146.5

All Marks and Spencer needs are mid-price trades ABOVE 152.5 to improve a ……..

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LSE:NWG Natwest. Close Mid-Price: 298.7 Percentage Change: + 0.74% Day High: 300.3 Day Low: 294.9

In the event of Natwest enjoying further trades beyond 300.3, the share s ……..

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LSE:OXIG Oxford Instruments Close Mid-Price: 2285 Percentage Change: -1.08% Day High: 2320 Day Low: 2215

Target met. Continued trades against OXIG with a mid-price ABOVE 2320 sho ……..

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LSE:POLY Polymetal Close Mid-Price: 324 Percentage Change: -2.70% Day High: 355 Day Low: 308.8

All Polymetal needs are mid-price trades ABOVE 355 to improve acceleratio ……..

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

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