#FTSE #Nasdaq With the so called “Cost of Living Crisis”, more than a touch of suspicion has been cast in the direction of various corporate bodies such as BP, Shell, the UK Govt, and of course, the supermarkets. The recent admission of supermarkets being deliberately tardy in reducing fuel prices struck a chord, especially as prices here in our bit of Argyll allow drivers to come across on one of the UK’s most expensive ferry crossings, fill their car, and return home, a day out in the mountains proving cheaper than filling up at a mainland supermarket.
BP used to be masters in the art of windfall profits. Back in the dark ages, we’d be careful to order fuel for delivery the day before a budget. If expecting a tanker delivery on budget day, invariably deliveries were not made until after the 6pm change in fuel duty. Of course, the company had filled the tankers from the refinery before 6pm, only releasing them once their windfall profit couldn’t be argued against. Every now and then, someone would try, attempting to replicate the speed of a 38 ton HGV to their petrol station but the oil company refused to budge. Of course, there was a degree of hypocrisy due to every petrol station increasing prices at bang on 6pm anyway, despite fuel duty being charged on tanker loads.
In the days before digital signs such as photographed below today, changing the “pole price” involved ladders and inevitable care, due to UK chancellors often proving capable of choosing wet and windy days to inflict their parsimony on the motorist.
Should things opt to go pear shaped with BP’s share price, trading at 458p at time of writing, it need only break below 447p as it looks like reversal to an initial 436p is possible, a level at which we’d expect some sort of bounce. However, should the 436p level break, any bounce is liable to prove short lived as our secondary calculates at a hopeful bottom around 390p. Strangely, there’s nothing historical which gives a visual suggestion 390p should provoke a bounce, just our software proving surprisingly optimistic.
Our alternate scenario for the oil company demands the share price better 493p before we dare believe any gains shall prove worthwhile, working out with an initial ambition at 508p with secondary, if bettered, at 529p along with almost certain hesitation.
For now, we suspect BP share price intends some shrinkage.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:40:29PM | BRENT | 7943.4 | ‘cess | ||||||||
| 9:42:57PM | GOLD | 1978.12 | Success | ||||||||
| 9:45:20PM | FTSE | 7452 | 7397 | 7370 | 7339 | 7415 | 7457 | 7465 | 7489 | 7440 | Success |
| 9:48:14PM | STOX50 | 4376.4 | |||||||||
| 9:50:01PM | GERMANY | 16136.3 | ‘cess | ||||||||
| 9:53:48PM | US500 | 4552.4 | Success | ||||||||
| 9:57:01PM | DOW | 34951.5 | Success | ||||||||
| 10:01:25PM | NASDAQ | 15818 | 15790 | 15778 | 15738 | 15830 | 15898 | 16093 | 16153 | 15600 | Success |
| 10:03:25PM | JAPAN | 32748 | Success |
18/07/2023 FTSE Closed at 7453 points. Change of 0.63%. Total value traded through LSE was: £ 4,095,812,024 a change of 3.79%
17/07/2023 FTSE Closed at 7406 points. Change of -0.38%. Total value traded through LSE was: £ 3,946,111,838 a change of 6.88%
14/07/2023 FTSE Closed at 7434 points. Change of -0.08%. Total value traded through LSE was: £ 3,691,976,999 a change of -20.65%
13/07/2023 FTSE Closed at 7440 points. Change of 0.32%. Total value traded through LSE was: £ 4,652,935,320 a change of -35.19%
12/07/2023 FTSE Closed at 7416 points. Change of 1.84%. Total value traded through LSE was: £ 7,179,397,183 a change of 76.59%
11/07/2023 FTSE Closed at 7282 points. Change of 0.12%. Total value traded through LSE was: £ 4,065,629,486 a change of 3.17%
10/07/2023 FTSE Closed at 7273 points. Change of 0.23%. Total value traded through LSE was: £ 3,940,608,069 a change of 3.75% 
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:CBX Cellular Goods** **LSE:DARK Darktrace Plc** **LSE:ECO ECO (Atlantic) O & G** **LSE:IDS International Distribution** **LSE:ITM ITM Power** **LSE:MKS Marks and Spencer** **LSE:OCDO Ocado Plc** **LSE:SPT Spirent Comms** **
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Updated charts published on : Cellular Goods, Darktrace Plc, ECO (Atlantic) O & G, International Distribution, ITM Power, Marks and Spencer, Ocado Plc, Spirent Comms,
LSE:CBX Cellular Goods. Close Mid-Price: 0.68 Percentage Change: + 0.00% Day High: 0.68 Day Low: 0.62
In the event Cellular Goods experiences weakness below 0.62 it calculates ……..
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View Previous Cellular Goods & Big Picture ***
LSE:DARK Darktrace Plc. Close Mid-Price: 375.7 Percentage Change: + 27.79% Day High: 388.7 Day Low: 330
In the event of Darktrace Plc enjoying further trades beyond 388.7, the s ……..
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View Previous Darktrace Plc & Big Picture ***
LSE:ECO ECO (Atlantic) O & G Close Mid-Price: 13.25 Percentage Change: -1.85% Day High: 13.5 Day Low: 12.88
Continued weakness against ECO taking the price below 12.88 calculates as ……..
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View Previous ECO (Atlantic) O & G & Big Picture ***
LSE:IDS International Distribution. Close Mid-Price: 261.8 Percentage Change: + 5.35% Day High: 260.8 Day Low: 248.2
Further movement against International Distribution ABOVE 260.8 should im ……..
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View Previous International Distribution & Big Picture ***
LSE:ITM ITM Power. Close Mid-Price: 83.98 Percentage Change: + 10.50% Day High: 85 Day Low: 77.08
Target met. In the event of ITM Power enjoying further trades beyond 85, ……..
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View Previous ITM Power & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 202.1 Percentage Change: + 3.91% Day High: 201.4 Day Low: 195.45
Continued trades against MKS with a mid-price ABOVE 201.4 should improve ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:OCDO Ocado Plc. Close Mid-Price: 691.6 Percentage Change: + 19.04% Day High: 699 Day Low: 592.6
Further movement against Ocado Plc ABOVE 699 should improve acceleration ……..
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View Previous Ocado Plc & Big Picture ***
LSE:SPT Spirent Comms. Close Mid-Price: 166.9 Percentage Change: + 1.03% Day High: 168.7 Day Low: 160.8
In the event Spirent Comms experiences weakness below 160.8 it calculates ……..
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View Previous Spirent Comms & Big Picture ***