#Gold #WallSt Not since a dragon escaped from the vaults of Gringotts, JK Rowling’s famed Swiss bank branch in the Harry Potter series, have we seen a Swiss bank cause such turmoil in the marketplace. Which is a bit strange, ‘cos no-one noticed a dragon soaring over Zurich with a bag marked “swag”. Of course, blame is being attached to Silicon Valley Bank for propagating this mess but the reality is quite different. The writing has been on the wall for Credit Suisse since 2016!
Much is being made of the banks share price being at an all time low, conveniently forgetting it has been at an all time low since June of 2022. Even at the worst of the 2009 banking crisis, the lowest their share price achieved was $18, a number it fell below in 2018 and failed to recover from.
Perhaps it shall prove the share price is now in an endgame toward a final bottom capable of provoking a real bounce. Closing on Wednesday at 2.28 dollars, weakness next below $1.75 looks painfully capable of heading down again, next time to $1.50 with our secondary, if such a target level breaks, calculating at $0.27 and an ultimate bottom, if only because we cannot continue this limbo dance under such a level. Our reason for mentioning this ridiculous sounding target stems from the 9p low achieved by Natwest (Royal Bank of Scotland) back in 2009. No sane person would’ve anticipated a “respected” banking share such as Natwest hitting such a low yet, in the spirit of true banking sector competence, it managed it. While Natwest share price has failed to produce a “multi bagger recovery” (currently trading around 261p, actually around 26.1p which price consolidation is accounted for), it’s also fair to say Natwest has never broken the 9p level again. It did come painfully close in 2020 during Lockdown.
Maybe it’s the case where Credit Suisse shall prove a worthwhile watch, just in case it enacts something ridiculous and hits our $0.27 level. After all, they’re a respectable, well known bank, one which the Swiss Govt appear happy to guarantee in the current crisis. Who knows, perhaps JK Rowling moved some of her petty cash holdings to an account with another bank, thus causing a liquidity issue.
We’re not (yet) convinced SVB and CS are the first two dominoes falling, kicking off yet another financial crisis. Many of the share price and index falls experienced across the wider market proved to be arithmetically correct from our perspective, this tending to be a sign behaviour may prove artificial.
If we opt to zoom in on Credit Suisse, it’s apparently the case where above 2.25 dollars should trigger recovery to an initial $2.54 with secondary, if bettered, working out at a possible game changing $3.14, a share price value which (if exceeded) makes gains available in larger increments.
In summary, we suspect this shall prove worth keeping an eye on as there’s a certain attraction in hoping it shall produce a viable long position, essentially anywhere between our two drop target levels. The only major problem is an inability to recommend any sort of stop loss level, other than zero.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:14:54PM | BRENT | 74.11 | Success | ||||||||
| 11:17:05PM | GOLD | 1921.44 | 1908 | 1902 | 1890 | 1921 | 1929 | 1937 | 1945 | 1917 | Success |
| 11:20:13PM | FTSE | 7387 | Success | ||||||||
| 11:23:31PM | STOX50 | 4086.4 | Success | ||||||||
| 11:25:34PM | GERMANY | 14891.5 | Success | ||||||||
| 11:28:16PM | US500 | 3896 | ‘cess | ||||||||
| 11:30:53PM | DOW | 31882.4 | 31677 | 31502 | 31232 | 31929 | 31974 | 32157 | 32404 | 31697 | ‘cess |
| 11:35:30PM | NASDAQ | 12295 | ‘cess | ||||||||
| 11:40:51PM | JAPAN | 26782 | Success |
15/03/2023 FTSE Closed at 7344 points. Change of -3.84%. Total value traded through LSE was: £ 8,338,790,623 a change of 43.77%
14/03/2023 FTSE Closed at 7637 points. Change of 1.18%. Total value traded through LSE was: £ 5,799,952,343 a change of -34.08%
13/03/2023 FTSE Closed at 7548 points. Change of -2.58%. Total value traded through LSE was: £ 8,798,482,438 a change of 25.79%
10/03/2023 FTSE Closed at 7748 points. Change of -1.66%. Total value traded through LSE was: £ 6,994,694,563 a change of 6.35%
9/03/2023 FTSE Closed at 7879 points. Change of -0.63%. Total value traded through LSE was: £ 6,576,891,587 a change of 1.82%
8/03/2023 FTSE Closed at 7929 points. Change of 0.13%. Total value traded through LSE was: £ 6,459,565,037 a change of 19.23%
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%
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:ASC Asos** **LSE:AV. Aviva** **LSE:BARC Barclays** **LSE:CCL Carnival** **LSE:GENL Genel** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:IAG British Airways** **LSE:IGG IG Group** **LSE:IQE IQE** **LSE:ITRK Intertek** **LSE:MMAG Music Magpie** **LSE:NWG Natwest** **LSE:OCDO Ocado Plc** **LSE:SDY Speedyhire** **LSE:TLW Tullow** **
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Updated charts published on : Aston Martin, Asos, Aviva, Barclays, Carnival, Genel, Gulf Keystone, Glencore Xstra, British Airways, IG Group, IQE, Intertek, Music Magpie, Natwest, Ocado Plc, Speedyhire, Tullow,
LSE:AML Aston Martin Close Mid-Price: 240.4 Percentage Change: -8.35% Day High: 265.8 Day Low: 235
If Aston Martin experiences continued weakness below 235, it will invariab ……..
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View Previous Aston Martin & Big Picture ***
LSE:ASC Asos Close Mid-Price: 784.5 Percentage Change: -7.49% Day High: 846.5 Day Low: 771
Target Met. Travel now below 771 suggests a visit to an initial 698 with s ……..
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View Previous Asos & Big Picture ***
LSE:AV. Aviva Close Mid-Price: 407 Percentage Change: -5.04% Day High: 430 Day Low: 407.2
Target Met. Below 407 suggests coming weakness to 393p and a possible boun ……..
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View Previous Aviva & Big Picture ***
LSE:BARC Barclays Close Mid-Price: 138.24 Percentage Change: -9.09% Day High: 152.42 Day Low: 138.06
Target Met. Now below 138p suggests a coming visit to 134p with secondary, ……..
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View Previous Barclays & Big Picture ***
LSE:CCL Carnival Close Mid-Price: 636.4 Percentage Change: -8.96% Day High: 685 Day Low: 634.4
Target Met. Once again, an iceberg has appeared in front of this share pri ……..
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View Previous Carnival & Big Picture ***
LSE:GENL Genel Close Mid-Price: 114.6 Percentage Change: -4.50% Day High: 121 Day Low: 114
Target Met. Now below 114 indicates reversal potentials to an initial 104 ……..
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View Previous Genel & Big Picture ***
LSE:GKP Gulf Keystone Close Mid-Price: 171 Percentage Change: -7.27% Day High: 186.8 Day Low: 171
Target Met. This has gotten dodgy as below 171 now suggests a potential fo ……..
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View Previous Gulf Keystone & Big Picture ***
LSE:GLEN Glencore Xstra Close Mid-Price: 412 Percentage Change: -10.72% Day High: 458.65 Day Low: 410.95
Target Met. This is at risk of digging itself a deep hole as below 410 sug ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:IAG British Airways Close Mid-Price: 133.64 Percentage Change: -7.61% Day High: 144.98 Day Low: 133.2
Target Met. Below 133 has the potential of reversal to 129 with secondary, ……..
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View Previous British Airways & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 695.5 Percentage Change: -9.91% Day High: 770.5 Day Low: 694
Target Met. Now below 694 risks reversal to around 684 and hopefully a bou ……..
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View Previous IG Group & Big Picture ***
LSE:IQE IQE Close Mid-Price: 25.3 Percentage Change: -10.60% Day High: 28.15 Day Low: 24.9
Target Met. Now below 24 threatens reversal to an initial 19 with secondar ……..
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View Previous IQE & Big Picture ***
LSE:ITRK Intertek Close Mid-Price: 3950 Percentage Change: -2.32% Day High: 4045 Day Low: 3934
In the event Intertek experiences weakness below 3934, it calculates with ……..
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View Previous Intertek & Big Picture ***
LSE:MMAG Music Magpie Close Mid-Price: 25 Percentage Change: -10.71% Day High: 28.2 Day Low: 25.5
This is troubling as weakness now below 25 suggests coming travel to an in ……..
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View Previous Music Magpie & Big Picture ***
LSE:NWG Natwest Close Mid-Price: 261.8 Percentage Change: -5.69% Day High: 277.5 Day Low: 260.8
Target Met. It’s rare for a bandwagon to come along without Natwest jumpin ……..
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View Previous Natwest & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 425 Percentage Change: -3.67% Day High: 440.4 Day Low: 406.6
Target Met. Continued weakness against OCDO taking the price below 406 cal ……..
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View Previous Ocado Plc & Big Picture ***
LSE:SDY Speedyhire Close Mid-Price: 33.55 Percentage Change: -2.04% Day High: 34.5 Day Low: 33.4
Now below 33 threatens a visit to an initial 31.7 with secondary, if broke ……..
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View Previous Speedyhire & Big Picture ***
LSE:TLW Tullow Close Mid-Price: 29.38 Percentage Change: -9.21% Day High: 32.42 Day Low: 29.08
Continued weakness against TLW taking the price below 29 calculates as lea ……..
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View Previous Tullow & Big Picture ***