#FTSE #Nasdaq When we reviewed JP Sports back in May, it was with an expectation the future looked fairly rosy. It only needed a share price which exceeded 179p to trigger some movement of substance. Unfortunately, the period since has seen the price behave as if the company had appointed Russel Brand as their public face.
What really came as a surprise was scanning the company’s operations as we’d never appreciated how strongly this organisation, from Bury, was expanding throughout the known universe. Surely questions must be asked as to why the rag trade manufacturer featured in ‘Coronation St’, presumably from the same part of the world as JD, has failed to flourish over the years… This question only arises, because it transpires my wife’s Coronation St addiction is the ONLY reason we remain with a TV licence! If only they’d bring back Top Gear or Formula 1.
For JD Sports, it remains a puzzle why people attach any value to choosing a product due to a logo. Recently gifted a pair of trainers from Nike, they were returned, claiming a flat feet issue made wearing them impossible. However, for JD Sports, their own share price appears to be suffering its own flat feet issue, failing to do anything of particular note.
It is currently the case where above 150p should apparently trigger share price recovery to an initial 161p. Visually, there’s an expectation of hesitation at such a target level, given the presence of the downtrend since 2022. Our longer term secondary, if exceeded, works out at a confident looking 185p, this time with almost certain hesitation as this price will challenge a series of highs from the start of this year. Plenty of folk who’ve seen their investment trapped in the 180’s since February can be expected to contribute some selling pressure at the opportunity to regain their funds without any significant loss.
Should things intend go pear shaped, below 133p risks provoking real trouble, allowing for reversal to an initial 115p. Closure below 115p risks becoming absurdly troubling, dumping the share price into a region where a cycle to 64p becomes possible.
This one is a little bit worrying as the share has carefully avoided triggering growth. However, presumably they shall avoid being perceived as doing deals in car parks for the future and perhaps allowing confidence to return to the share price.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:25:18PM | BRENT | 92.49 | |||||||||
| 9:28:32PM | GOLD | 1900.22 | Success | ||||||||
| 9:31:54PM | FTSE | 7603.7 | 7594 | 7585 | 7532 | 7621 | 7658 | 7682 | 7716 | 7610 | |
| 9:34:17PM | STOX50 | 4119.2 | ‘cess | ||||||||
| 9:52:40PM | GERMANY | 15214.8 | ‘cess | ||||||||
| 9:56:28PM | US500 | 4278.2 | |||||||||
| 10:09:40PM | DOW | 33655 | ‘cess | ||||||||
| 10:15:27PM | NASDAQ | 14560 | 14504 | 14265 | 13811 | 14622 | 14730 | 14819 | 14924 | 14650 | Success |
| 10:17:58PM | JAPAN | 32118 | Success |
26/09/2023 FTSE Closed at 7625 points. Change of 0.01%. Total value traded through LSE was: £ 5,340,510,819 a change of -24.76%
25/09/2023 FTSE Closed at 7624 points. Change of -0.77%. Total value traded through LSE was: £ 7,097,867,582 a change of -9.65%
22/09/2023 FTSE Closed at 7683 points. Change of 0.07%. Total value traded through LSE was: £ 7,855,931,745 a change of 26.88%
21/09/2023 FTSE Closed at 7678 points. Change of -0.69%. Total value traded through LSE was: £ 6,191,643,124 a change of 28.33%
20/09/2023 FTSE Closed at 7731 points. Change of 0.93%. Total value traded through LSE was: £ 4,824,861,883 a change of -0.46%
19/09/2023 FTSE Closed at 7660 points. Change of 0.1%. Total value traded through LSE was: £ 4,847,212,890 a change of 23.66%
18/09/2023 FTSE Closed at 7652 points. Change of -0.77%. Total value traded through LSE was: £ 3,919,854,652 a change of -71.71%
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:BLVN Bowleven** **LSE:BP. BP PLC** **LSE:ECO ECO (Atlantic) O & G** **LSE:ITV ITV** **LSE:SPX Spirax** **LSE:TERN Tern Plc** **
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Updated charts published on : Bowleven, BP PLC, ECO (Atlantic) O & G, ITV, Spirax, Tern Plc,
LSE:BLVN Bowleven Close Mid-Price: 0.89 Percentage Change: -50.56% Day High: 1.25 Day Low: 0.65
Target met. If Bowleven experiences continued weakness below 0.65, it wil ……..
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View Previous Bowleven & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 530.9 Percentage Change: + 0.68% Day High: 533.3 Day Low: 521.2
Further movement against BP PLC ABOVE 533.3 should improve acceleration t ……..
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View Previous BP PLC & Big Picture ***
LSE:ECO ECO (Atlantic) O & G Close Mid-Price: 12.25 Percentage Change: -5.04% Day High: 12.8 Day Low: 12.25
Weakness on ECO (Atlantic) O & G below 12.25 will invariably lead to 11.4 ……..
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View Previous ECO (Atlantic) O & G & Big Picture ***
LSE:ITV ITV Close Mid-Price: 70.7 Percentage Change: -1.86% Day High: 71.88 Day Low: 70.3
Watching TV recently, I was amazed at the number of advertising slots bein ……..
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View Previous ITV & Big Picture ***
LSE:SPX Spirax Close Mid-Price: 9242 Percentage Change: -2.45% Day High: 9448 Day Low: 9202
Target met. In the event Spirax experiences weakness below 9202 it calcul ……..
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View Previous Spirax & Big Picture ***
LSE:TERN Tern Plc Close Mid-Price: 5.5 Percentage Change: -4.35% Day High: 6.25 Day Low: 5.25
Target met. Further movement against Tern Plc ABOVE 6.25 should improve a ……..
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View Previous Tern Plc & Big Picture ***