#FTSE #DOW
There have been some quite strange price movements with Wood over recent sessions, sufficient to provoke a few emails and a quick look at the news. It appears the oilfield services and engineering company are enjoying the buyout intentions of a private-equity firm, Apollo Global, apparently the 4th approach they’ve made to the company.
As the chart inset shows, it appears clear the market has little idea on how to handle the changing value being allocated to the share price, two major upward gaps in the last couple of weeks giving plenty of visual evidence. However, with the share price being gapped above the ruling downtrend since 2018, some hope exists the company believes it’s worth more than the current offer of 237p per share.
Above 228p should prove interesting, calculating as entering a cycle to an initial 308p with secondary, if bettered, at 376p. Both these ambitions are pretty important, nudging the share price above the glass ceiling which exists around the 255p level and visually, creating a new ball game. This share price has not yet even attained the high of 2020, prior to the Covid-19 drop, and only when share prices return to such a level, the artificial damage inflicted on many shares is liable to be undone. Until such a point, there’s a very real risk of share prices being regarded as “cheap” by those predators with shopping bags full of cash.
We should probably also mention, share price closure above this glass ceiling level of 255p changes our calculations from a Big Picture perspective as a distant 620p shall be regarded as presenting a long term attraction. Visually, it doesn’t look daft.
Finally, one important detail which was almost easy to overlook.
Once the market opted to gap this share above the downtrend, it removed it from a frightening region, one where we had been able to calculate an ultimate bottom of a ridiculous 38p!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:34:00PM | BRENT | 82.79 | Success | ||||||||
| 10:35:49PM | GOLD | 1814.09 | Success | ||||||||
| 10:38:14PM | FTSE | 7903.26 | 7895 | 7883 | 7856 | 7925 | 7936 | 7945 | 7964 | 7909 | Shambles |
| 10:40:11PM | STOX50 | 4275.7 | Success | ||||||||
| 10:42:54PM | GERMANY | 15536.24 | Shambles | ||||||||
| 10:53:58PM | US500 | 3987.97 | Success | ||||||||
| 10:56:48PM | DOW | 32861 | 32830 | 32722 | 32463 | 32975 | 32980 | 33134 | 33238 | 32850 | Success |
| 10:59:12PM | NASDAQ | 12161.24 | ‘cess | ||||||||
| 11:01:09PM | JAPAN | 28194 | Success |
7/03/2023 FTSE Closed at 7919 points. Change of -0.13%. Total value traded through LSE was: £ 5,417,813,576 a change of -3.92%
6/03/2023 FTSE Closed at 7929 points. Change of -0.23%. Total value traded through LSE was: £ 5,638,585,361 a change of -4.78%
3/03/2023 FTSE Closed at 7947 points. Change of 0.04%. Total value traded through LSE was: £ 5,921,700,262 a change of -13.69%
2/03/2023 FTSE Closed at 7944 points. Change of 34.33%. Total value traded through LSE was: £ 6,861,176,489 a change of -1.62%
1/03/2023 FTSE Closed at 5914 points. Change of -24.91%. Total value traded through LSE was: £ 6,974,404,128 a change of -21.96%
28/02/2023 FTSE Closed at 7876 points. Change of -0.74%. Total value traded through LSE was: £ 8,937,075,687 a change of 69.5%
27/02/2023 FTSE Closed at 7935 points. Change of 0.72%. Total value traded through LSE was: £ 5,272,651,300 a change of -17.32%
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:CASP Caspian** **LSE:EZJ EasyJet** **LSE:FOXT Foxtons** **LSE:OCDO Ocado Plc** **LSE:RKH Rockhopper** **LSE:SPT Spirent Comms** **
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Updated charts published on : Aston Martin, Caspian, EasyJet, Foxtons, Ocado Plc, Rockhopper, Spirent Comms,
LSE:AML Aston Martin. Close Mid-Price: 297 Percentage Change: + 7.57% Day High: 307 Day Low: 274.9
Further movement against Aston Martin ABOVE 307 should improve accelerati ……..
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View Previous Aston Martin & Big Picture ***
LSE:CASP Caspian Close Mid-Price: 7 Percentage Change: -9.68% Day High: 7.9 Day Low: 6.6
This has gotten a little dodgy as below 6.6 now looks capable of 6.2 next ……..
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View Previous Caspian & Big Picture ***
LSE:EZJ EasyJet. Close Mid-Price: 520.8 Percentage Change: + 0.89% Day High: 527 Day Low: 512
All EasyJet needs are mid-price trades ABOVE 527 to improve acceleration ……..
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View Previous EasyJet & Big Picture ***
LSE:FOXT Foxtons. Close Mid-Price: 42.1 Percentage Change: + 2.18% Day High: 43.45 Day Low: 41
Continued trades against FOXT with a mid-price ABOVE 43.45 should improve ……..
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View Previous Foxtons & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 505 Percentage Change: -4.68% Day High: 532.8 Day Low: 502.8
Continued weakness against OCDO taking the price below 502.8 calculates a ……..
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View Previous Ocado Plc & Big Picture ***
LSE:RKH Rockhopper. Close Mid-Price: 10.6 Percentage Change: + 5.79% Day High: 10.7 Day Low: 10.1
Something is happening. Above 10.7 now suggests recovery to an initial 11 ……..
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View Previous Rockhopper & Big Picture ***
LSE:SPT Spirent Comms Close Mid-Price: 180.5 Percentage Change: -14.45% Day High: 193 Day Low: 175.5
Currently this needs a bit of a miracle above 191p to suggest surprise rec ……..
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View Previous Spirent Comms & Big Picture ***