#FTSE #WallSt It’s that time of the year when our thoughts turn to Kingfisher, owners of B&Q. A series of frustrating setbacks while servicing our little red tractor provoked a genuine “down tools” moment, along with the announcement of a need to visit the mainland and go to B&Q. When asked what was needed, a glib answer of “a break from than little red hellish machine” didn’t entirely satisfy, especially as B&Q are not famed for their supply of tractor parts.
But the store has its uses, almost as mentally soothing as wandering aimlessly in a book shop or once, in electronics stores.
The tractor, usually fairly well behaved, generally needs an oil and filters change at the start of the season, grease pumped everywhere, tyre pressures checked, and invariably some minor welding on the grass cutting deck. Today was different. There was a fresh dusting of snow on the hills here in Argyll and clambering around the small tractor wasn’t an attractive proposition. After connecting up the freshly charged battery, turning the key produced nothing, no clicks, no warning lights, just utter silence. This was half expected, the ignition switch previously needing “shoogled” to tempt the thing into starting, so it was clearly time to fit the replacement I’d ordered when the machine was put away for winter. In an effort to win favour with it, I’d also ordered a new starter solenoid, just in case.
After a few hours, the new parts were comfortably in place, the new key turned, and there was still nothing, except the hills were getting a little more white. It was time to actually do some diagnosis with a volt meter, checking continuity through every single cable on the ignition circuit. Obviously, before going to any of this effort, the fuse board had been checked. After a lot more work, the little red tractor now concealed under an ever growing pile of displaced parts, the dashboard had been removed and it was now time to check the “topple switch” under the seat, something designed to detect if the driver has fallen off or the tractor has toppled. Obviously, this switch was working perfectly but when checking the wiring for it, the discovery of an in-line fuse provoked an immediate sinking feeling. There was a tiny little 20 amp fuse which had blown, thus ensuring nothing on the tractor would work. Once the laughter stopped, it was the work of hours to put everything back together, gentle puffs of snow blowing into the shed to assist in making the day more pleasant.
So, I’m going to visit B&Q with the intention of standing gazing at some self propelled lawnmowers. Perhaps the tedious 1.5 mile walk while cutting grass shall not be as unpleasant as memory dictates. Or maybe the job of servicing the little red tractor shall continue with no further unpleasantness!
And this is why the inspiration to review Kingfisher appeared.
Currently, things don’t look that great for the owners of B&Q (and Screwfix etc), their share price threatening reversal to 222p with any further movement below 242p. Visually, there’s a reasonable argument hoping for a bounce at such a level, due to the coincidence of the Red uptrend on the chart and a prior share price low at the end of last year. Things become a little unpleasant with any break of 222p as a visit to 201p looks extremely possible.
Trading around 253p at present, their share price calculates as needing above 288p to trigger a confident looking recovery cycle, giving an initial ambition at 318p with secondary, if bettered, at a longer term 343p. On the chart, we’ve teased with a distant looking 392p, almost certainly a share price level which should provoke hesitation, and suspect this shall not become an issue unless our little red tractor disgraces itself, forcing the purchase of a lawnmower from B&Q…
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:29:22PM | BRENT | 87 | Success | ||||||||
| 9:44:38PM | GOLD | 2014.7 | Success | ||||||||
| 9:47:05PM | FTSE | 7811.85 | 7803 | 7793 | 7754 | 7833 | 7858 | 7885 | 8087 | 7771 | Success |
| 9:49:06PM | STOX50 | 4338.5 | Success | ||||||||
| 10:06:41PM | GERMANY | 15682 | Success | ||||||||
| 10:08:34PM | US500 | 4091.32 | Success | ||||||||
| 10:13:08PM | DOW | 33622.5 | 33595 | 33456 | 33289 | 33735 | 33957 | 34192 | 34320 | 33567 | ‘cess |
| 10:15:58PM | NASDAQ | 12851.17 | Shambles | ||||||||
| 10:17:59PM | JAPAN | 27901 | Success |
12/04/2023 FTSE Closed at 7824 points. Change of 0.5%. Total value traded through LSE was: £ 4,983,460,119 a change of -24.23%
11/04/2023 FTSE Closed at 7785 points. Change of 0.57%. Total value traded through LSE was: £ 6,576,655,503 a change of 53.55%
6/04/2023 FTSE Closed at 7741 points. Change of 1.03%. Total value traded through LSE was: £ 4,283,125,901 a change of -14.63%
5/04/2023 FTSE Closed at 7662 points. Change of 0.37%. Total value traded through LSE was: £ 5,017,004,065 a change of -11.84%
4/04/2023 FTSE Closed at 7634 points. Change of -0.51%. Total value traded through LSE was: £ 5,690,797,913 a change of -12.58%
3/04/2023 FTSE Closed at 7673 points. Change of -100%. Total value traded through LSE was: £ 6,510,009,325 a change of 0%
31/03/2023 FTSE Closed at 7631 points. Change of 0%. Total value traded through LSE was: £ 6,002,582,813 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:AML Aston Martin** **LSE:AZN Astrazeneca** **LSE:BP. BP PLC** **LSE:BT.A British Telecom** **LSE:CNA Centrica** **LSE:IGAS Igas Energy** **LSE:IQE IQE** **LSE:PHP Primary Health** **LSE:SCLP Scancell** **LSE:TRN The Trainline** **LSE:TSCO Tesco** **
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Updated charts published on : Aston Martin, Astrazeneca, BP PLC, British Telecom, Centrica, Igas Energy, IQE, Primary Health, Scancell, The Trainline, Tesco,
LSE:AML Aston Martin. Close Mid-Price: 232 Percentage Change: + 1.93% Day High: 236.2 Day Low: 223.8
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LSE:AZN Astrazeneca. Close Mid-Price: 11822 Percentage Change: + 1.65% Day High: 11872 Day Low: 11614
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LSE:BP. BP PLC. Close Mid-Price: 539.6 Percentage Change: + 0.48% Day High: 543.7 Day Low: 535.8
Further movement against BP PLC ABOVE 543.7 should improve acceleration t ……..
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LSE:BT.A British Telecom. Close Mid-Price: 154.9 Percentage Change: + 1.34% Day High: 156.9 Day Low: 152.85
In the event of British Telecom enjoying further trades beyond 156.9, the ……..
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LSE:CNA Centrica. Close Mid-Price: 113.45 Percentage Change: + 0.49% Day High: 116.05 Day Low: 113.05
All Centrica needs are mid-price trades ABOVE 116.05 to improve accelerat ……..
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LSE:IGAS Igas Energy. Close Mid-Price: 17.74 Percentage Change: + 2.48% Day High: 18.48 Day Low: 16.84
Continued trades against IGAS with a mid-price ABOVE 18.48 should improve ……..
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LSE:IQE IQE Close Mid-Price: 24 Percentage Change: -4.19% Day High: 25.1 Day Low: 23.6
If IQE experiences continued weakness below 23.6, it will invariably lead ……..
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LSE:PHP Primary Health. Close Mid-Price: 106.8 Percentage Change: + 1.14% Day High: 108.3 Day Low: 105.5
All Primary Health needs are mid-price trades ABOVE 108.3 to improve acce ……..
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View Previous Primary Health & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 19.5 Percentage Change: + 14.71% Day High: 20 Day Low: 17
Continued trades against SCLP with a mid-price ABOVE 20 should improve th ……..
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LSE:TRN The Trainline Close Mid-Price: 232.6 Percentage Change: -1.44% Day High: 238.2 Day Low: 226.6
If The Trainline experiences continued weakness below 226.6, it will inva ……..
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LSE:TSCO Tesco Close Mid-Price: 267.4 Percentage Change: -0.11% Day High: 268.6 Day Low: 264.4
Continued trades against TSCO with a mid-price ABOVE 268.6 should improve ……..
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