#Gold #SP500 We’ve had a few emails asking for our take on Avacta and given recent share price fun and games, it’s not difficult to understand why. It’s often the case a quick glance at a chart will reveal if a share is experiencing “enhanced expectations” via the medium of internet discussion forums and for AVCT, it’s got chatroom gossip written all over it! Personally, it has proven difficult to ascertain if internet ramping/deramping is a necessary part of a shares life cycle. It’s certainly useful for brokers as anything increasing the vibrancy of share trading keeps them happy, no caring if it’s a buy or a sell as they receive commission anyway. But, to be cruel, if we pause and think about Gulf Keystone, the number of “true believers” active on the internet doubtless contributed to the massive number of folk suckered in prior to 2017, believing chatroom gossip the share price would never be as cheap again.
There’s a big rule. There is no such thing as a cheap share…
People will be trapped in Gulf Keystone above 40,000p, due to the 100:1 share split at the end of 2016. As it’s currently around 124p, patience is probably never going to be a viable strategy.
For Avacta, there was an immediate hope, the share price experiencing what looked like a solid upward surge when it recently exceeded 150p. This period of enthusiasm lasted until 166p, when it appears the market had second thoughts, promptly driving the share price once again below the Blue downtrend. This sort of thing is rarely a vote of confidence for the future, often quite the converse. Of course, the reversal could all be a dreadful mistake but the share now needs above Blue at 150 to tick the first box for any surprise recovery. Instead, we fear the worst.
Now below 134.5p calculates with the potential of a short trip down to 130p, a share price level where a bounce will make quite a bit of sense. In the event the 130p level breaks, our longer term secondary is arithmetically annoying, down at 109p and effectively delaying the prospect of any future share price recovery until such time the healthcare group start issuing a stream of positive news flow.
Surely, at some point one of these scientific genius will invent something to combat the phenomena of collapsed blood vessels, due to chemotherapy. One of the more unpleasant aspects, following chemo, is the need for ongoing blood tests and the fun of a nurse digging around to find a vein becomes tiresome after a while. While writing this, I’ve 4 sticking plasters on my right arm, due to blood veins playing hide and seek with my GP’s nurse today with thankfully just a single plaster on my left arm. After 11 years of treatment, any sane person would think I’d remember to wrap my arm warmly prior to visiting for a blood test as this makes finding veins easier but somehow, I always forget.
While we’re inclined to hope for a bounce from the 130p level, thanks to the visual impression of chatroom damage, realistically the share price now needs exceed 167p to enter a cycle where a visit to 189p is expected, along with probable hesitation due to historical price activity. Should 189p be exceeded, we can calculate the potential of a future attraction coming from 249p and a price level where we shall need look hard at the tea leaves again.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:41:39PM | BRENT | 8920.9 | ‘cess | ||||||||
| 9:44:06PM | GOLD | 1919.51 | 1906 | 1895 | 1882 | 1924 | 1924 | 1928 | 1944 | 1914 | |
| 9:46:24PM | FTSE | 7644 | |||||||||
| 9:49:43PM | STOX50 | 4157.2 | |||||||||
| 9:52:48PM | GERMANY | 15257.7 | |||||||||
| 9:54:40PM | US500 | 4375.3 | 4325 | 4306 | 4280 | 4347 | 4384 | 4403 | 4434 | 4355 | |
| 9:56:52PM | DOW | 34008.5 | ‘cess | ||||||||
| 9:59:38PM | NASDAQ | 15179.1 | Success | ||||||||
| 10:01:54PM | JAPAN | 31982 |
16/10/2023 FTSE Closed at 7630 points. Change of 0.41%. Total value traded through LSE was: £ 3,927,547,887 a change of -11.37%
13/10/2023 FTSE Closed at 7599 points. Change of -0.59%. Total value traded through LSE was: £ 4,431,270,860 a change of -9.59%
12/10/2023 FTSE Closed at 7644 points. Change of 0.31%. Total value traded through LSE was: £ 4,901,572,931 a change of 12.56%
11/10/2023 FTSE Closed at 7620 points. Change of -0.1%. Total value traded through LSE was: £ 4,354,502,993 a change of -19.19%
10/10/2023 FTSE Closed at 7628 points. Change of 1.82%. Total value traded through LSE was: £ 5,388,462,932 a change of 18%
9/10/2023 FTSE Closed at 7492 points. Change of -0.03%. Total value traded through LSE was: £ 4,566,678,677 a change of -5.8%
6/10/2023 FTSE Closed at 7494 points. Change of 0.58%. Total value traded through LSE was: £ 4,848,110,994 a change of 10.75%
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:CCL Carnival** **LSE:ECO ECO (Atlantic) O & G** **LSE:EZJ EasyJet** **LSE:IAG British Airways** **LSE:ITV ITV** **LSE:OCDO Ocado Plc** **LSE:SPX Spirax** **
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Updated charts published on : Carnival, ECO (Atlantic) O & G, EasyJet, British Airways, ITV, Ocado Plc, Spirax,
LSE:CCL Carnival. Close Mid-Price: 907 Percentage Change: + 0.96% Day High: 920.2 Day Low: 887
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LSE:ECO ECO (Atlantic) O & G Close Mid-Price: 10.25 Percentage Change: -0.49% Day High: 10.38 Day Low: 10.25
If ECO (Atlantic) O & G experiences continued weakness below 10.25, it wi ……..
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LSE:EZJ EasyJet. Close Mid-Price: 391.8 Percentage Change: + 0.15% Day High: 398.6 Day Low: 383.1
If EasyJet experiences continued weakness below 383.1, it will invariably ……..
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LSE:IAG British Airways. Close Mid-Price: 145.3 Percentage Change: + 0.83% Day High: 146.05 Day Low: 142.1
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LSE:ITV ITV. Close Mid-Price: 67.12 Percentage Change: + 3.20% Day High: 67.24 Day Low: 63.92
Continued weakness against ITV taking the price below 63.92 calculates as ……..
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LSE:OCDO Ocado Plc Close Mid-Price: 500 Percentage Change: -5.80% Day High: 519.6 Day Low: 500.2
If Ocado Plc experiences continued weakness below 500.2, it will invariab ……..
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LSE:SPX Spirax Close Mid-Price: 8468 Percentage Change: -0.12% Day High: 8550 Day Low: 8414
Target met. Continued weakness against SPX taking the price below 8414 ca ……..
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