#Brent #Germany40
We always make a big deal about “higher highs” but the FTSE is posing an interesting question, one where our inclination is to retreat to our usual demand to see prices close higher than previous levels. Once upon a time in May 22nd, 2018, the FTSE had a day high of 7903.5 points. Last Friday, 5th February, the FTSE had a day high of 7906.58.
These numbers are obviously essentially identical but there’s a more important aspect, if we view the closing numbers for each session. In May 2018, the index achieved a closing price of 7877 points whereas on Friday 5th February, the index closed the session at 7901.8 points, a more substantial “higher high”, one giving considerable hope for the future. We do prefer seeing a share price actually close a session above a previous high as this invariably proves the safer signal for the longer term but on this occasion, it spiked higher during the day but managed close lower than its historical high.
Perhaps there’s no concise “no-brainer” argument for further immediate gains but should the FTSE wander above 7913 anytime soon, it’s going to be hard to avoid a further gain of 300 points.
Barclays Plc We’d anointed 181.15p as a level above which Barclays needed to close to provide an early sign of springtime. Finally, in the middle of January, the required miracle occurred and what’s been happening since is a little bit underwhelming, the target numbers only requiring the slightest of tweaks. It certainly appears the share price now needs close below 180p to indicate coming trouble but by most standards, we’re remain pretty optimistic.
Now above 189p calculates with the potential of a visit to an initial 196p next with our secondary, if exceeded, working out at a more useful 218p. Those folk with a memory greater than a goldfish will notice these are almost identical target levels to those provided three weeks ago, the share price failing to advance in leaps and bounds.
Our alternate, below 180 now points at an initial 175p with secondary, if broken, at 169p and hopefully a bounce. We’d regard this as little more than an attempt to slow down the pace of any Barclays rise.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 1:32:03PM | BRENT | 80.02 | 79.83 | 79.71 | 78.91 | 80.91 | 80.94 | 81.16 | 81.6 | 80 |
| 1:34:32PM | GOLD | 1865 | ||||||||
| 1:37:32PM | FTSE | 7904.96 | ||||||||
| 3:02:29PM | STOX50 | 4241.7 | ||||||||
| 3:04:35PM | GERMANY | 15426 | 15346 | 15273 | 15182 | 15438 | 15528 | 15586 | 15666 | 15430 |
| 3:06:42PM | US500 | 4131.27 | ||||||||
| 3:33:48PM | DOW | 33857 | ||||||||
| 3:37:17PM | NASDAQ | 12562 | ||||||||
| 3:39:33PM | JAPAN | 27628 |
3/02/2023 FTSE Closed at 7901 points. Change of 1.04%. Total value traded through LSE was: £ 5,572,467,076 a change of -26.46%
2/02/2023 FTSE Closed at 7820 points. Change of 0.76%. Total value traded through LSE was: £ 7,577,557,777 a change of 8.79%
1/02/2023 FTSE Closed at 7761 points. Change of -0.13%. Total value traded through LSE was: £ 6,964,989,564 a change of 4.57%
31/01/2023 FTSE Closed at 7771 points. Change of -0.17%. Total value traded through LSE was: £ 6,660,813,951 a change of 20.2%
30/01/2023 FTSE Closed at 7784 points. Change of 0.24%. Total value traded through LSE was: £ 5,541,404,266 a change of 12.58%
27/01/2023 FTSE Closed at 7765 points. Change of 0.05%. Total value traded through LSE was: £ 4,922,369,454 a change of -13.06%
26/01/2023 FTSE Closed at 7761 points. Change of 0.22%. Total value traded through LSE was: £ 5,661,516,595 a change of 15%
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:AFC AFC Energy** **LSE:BLVN Bowleven** **LSE:BT.A British Telecom** **LSE:CASP Caspian** **LSE:CCL Carnival** **LSE:CPI Capita** **LSE:HIK Hikma** **LSE:HL. Hargreaves Lansdown** **LSE:IHG Intercontinental Hotels Group** **LSE:IPF International Personal Finance** **LSE:MKS Marks and Spencer** **
********
Updated charts published on : AFC Energy, Bowleven, British Telecom, Caspian, Carnival, Capita, Hikma, Hargreaves Lansdown, Intercontinental Hotels Group, International Personal Finance, Marks and Spencer,
LSE:AFC AFC Energy. Close Mid-Price: 25.3 Percentage Change: + 4.37% Day High: 26.3 Day Low: 22.96
Target met. Further movement against AFC Energy ABOVE 26.3 should improve ……..
</p
View Previous AFC Energy & Big Picture ***
LSE:BLVN Bowleven Close Mid-Price: 1.38 Percentage Change: -9.84% Day High: 1.52 Day Low: 1.38
Continued weakness against BLVN taking the price below 1.38 calculates as ……..
</p
View Previous Bowleven & Big Picture ***
LSE:BT.A British Telecom. Close Mid-Price: 134.65 Percentage Change: + 1.70% Day High: 135.1 Day Low: 130.95
Target met. Continued trades against BT.A with a mid-price ABOVE 135.1 sh ……..
</p
View Previous British Telecom & Big Picture ***
LSE:CASP Caspian. Close Mid-Price: 6.9 Percentage Change: + 6.15% Day High: 7.1 Day Low: 6.5
Target met. Further movement against Caspian ABOVE 7.1 should improve acc ……..
</p
View Previous Caspian & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 890 Percentage Change: + 1.27% Day High: 893.2 Day Low: 861.8
In the event of Carnival enjoying further trades beyond 893.2, the share ……..
</p
View Previous Carnival & Big Picture ***
LSE:CPI Capita. Close Mid-Price: 29.24 Percentage Change: + 2.67% Day High: 29.18 Day Low: 28.28
All Capita needs are mid-price trades ABOVE 29.18 to improve acceleration ……..
</p
View Previous Capita & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1733.5 Percentage Change: + 1.26% Day High: 1749 Day Low: 1694
Continued trades against HIK with a mid-price ABOVE 1749 should improve t ……..
</p
View Previous Hikma & Big Picture ***
LSE:HL. Hargreaves Lansdown. Close Mid-Price: 949.6 Percentage Change: + 0.59% Day High: 952.2 Day Low: 930
All Hargreaves Lansdown needs are mid-price trades ABOVE 952.2 to improve ……..
</p
View Previous Hargreaves Lansdown & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 5784 Percentage Change: + 0.10% Day High: 5790 Day Low: 5706
Continued trades against IHG with a mid-price ABOVE 5790 should improve t ……..
</p
View Previous Intercontinental Hotels Group & Big Picture ***
LSE:IPF International Personal Finance. Close Mid-Price: 98 Percentage Change: + 0.10% Day High: 101 Day Low: 96.9
In the event of International Personal Finance enjoying further trades be ……..
</p
View Previous International Personal Finance & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 163 Percentage Change: + 1.21% Day High: 166.7 Day Low: 161.05
Continued trades against MKS with a mid-price ABOVE 166.7 should improve ……..
</p
View Previous Marks and Spencer & Big Picture ***