#Gold #SP500 With our subject for this weeks “Readers Request” being a Diversified Energy, a company we’ve never come across, it was initially a bit of a puzzle why anyone would be interested. They are oil & gas focussed, work in the USA, and listed in London and boast a pretty informative website. The chart below shows a pretty straightforward reason for our hesitation, the share price currently enjoying plumbing the depths of lower lows!
All things considered, there’s actually a pretty grim argument favouring us mentioning it’s on a cycle to a potential bottom of just 52p, effectively a return to a price level last seen when the listing commenced back in 2017. We’d certainly have some concerns if the share price discovered an excuse to sink below the recent 64p as this would doubtless herald a final tumble to a hopeful bottom. We cannot confidently calculate anything below 52p, so that alone gives some (slight) hope for a bounce if such a silly looking drop target materialises.
However, since the share reached the 64p level at the start of this month, there have been some fascinating share price movements which suggest the share price is currently about to weaken down to 70p, hopefully discovering a trampoline level. Any bounce capable of exceeding 78p calculates with the potential of a lift to 85p with our longer term secondary, if exceeded, working out at a future 98p. Our argument is based on the Big Picture already suggesting 64p should be regarded as a bottom and despite current grotty market conditions, this should be heading upward.
One funny thing about our calculation which proposed a future 98p, this will effectively represent a “higher high” with the result, closure above such a price level should send a clear signal to hold on and wait, the Big Picture giving some pretty interesting future potentials which, to be fair, we shall need revisit if 98p makes an appearance. We’re the first to admit our abilities in this time machine game are just a little lacking.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:04:24PM | BRENT | 8923.7 | 8985 | ||||||||
| 10:09:09PM | GOLD | 1972.44 | 1979 | 1962 | 1950 | 1975 | 1980 | 1984 | 1988 | 1971 | |
| 10:11:36PM | FTSE | 7354.9 | 7366 | ||||||||
| 10:14:54PM | STOX50 | 4030.5 | 4024 | ‘cess | |||||||
| 10:20:02PM | GERMANY | 14775.4 | 14750 | ‘cess | |||||||
| 10:24:03PM | US500 | 4225.4 | 4199 | 4179 | 4153 | 4224 | 4256 | 4260 | 4284 | 4230 | |
| 10:26:41PM | DOW | 32996 | 33063 | ||||||||
| 10:36:19PM | NASDAQ | 14647.5 | 14635 | Shambles | |||||||
| 10:39:18PM | JAPAN | 31062 | 31056 |
23/10/2023 FTSE Closed at 7374 points. Change of -0.38%. Total value traded through LSE was: £ 3,922,414,231 a change of -25.79%
20/10/2023 FTSE Closed at 7402 points. Change of -1.29%. Total value traded through LSE was: £ 5,285,642,202 a change of 11.3%
19/10/2023 FTSE Closed at 7499 points. Change of -1.17%. Total value traded through LSE was: £ 4,748,869,334 a change of -10.32%
18/10/2023 FTSE Closed at 7588 points. Change of -1.13%. Total value traded through LSE was: £ 5,295,187,819 a change of -4.89%
17/10/2023 FTSE Closed at 7675 points. Change of 0.59%. Total value traded through LSE was: £ 5,567,251,444 a change of 41.75%
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%
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:AAL Anglo American** **LSE:BDEV Barrett Devs** **LSE:CBX Cellular Goods** **LSE:CCL Carnival** **LSE:EZJ EasyJet** **LSE:HL. Hargreaves Lansdown** **LSE:IGG IG Group** **LSE:ITM ITM Power** **LSE:NWG Natwest** **LSE:OXIG Oxford Instruments** **LSE:PHP Primary Health** **LSE:SPX Spirax** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : Anglo American, Barrett Devs, Cellular Goods, Carnival, EasyJet, Hargreaves Lansdown, IG Group, ITM Power, Natwest, Oxford Instruments, Primary Health, Spirax, Taylor Wimpey,
LSE:AAL Anglo American Close Mid-Price: 2031.5 Percentage Change: -1.43% Day High: 2050.5 Day Low: 1989.8
If Anglo American experiences continued weakness below 1989.8, it will in ……..
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View Previous Anglo American & Big Picture ***
LSE:BDEV Barrett Devs. Close Mid-Price: 398.1 Percentage Change: + 1.48% Day High: 398.5 Day Low: 384.2
If Barrett Devs experiences continued weakness below 384.2, it will invar ……..
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View Previous Barrett Devs & Big Picture ***
LSE:CBX Cellular Goods Close Mid-Price: 0.38 Percentage Change: -6.25% Day High: 0.4 Day Low: 0.38
Weakness on Cellular Goods below 0.38 will invariably lead to 0.37p with ……..
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View Previous Cellular Goods & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 830.8 Percentage Change: + 2.37% Day High: 832.6 Day Low: 793
Target met. If Carnival experiences continued weakness below 793, it will ……..
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View Previous Carnival & Big Picture ***
LSE:EZJ EasyJet. Close Mid-Price: 364.4 Percentage Change: + 1.25% Day High: 365.2 Day Low: 350.4
If EasyJet experiences continued weakness below 350.4, it will invariably ……..
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View Previous EasyJet & Big Picture ***
LSE:HL. Hargreaves Lansdown Close Mid-Price: 695.2 Percentage Change: -0.69% Day High: 699.6 Day Low: 683.4
In the event Hargreaves Lansdown experiences weakness below 683.4 it calc ……..
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View Previous Hargreaves Lansdown & Big Picture ***
LSE:IGG IG Group. Close Mid-Price: 621.5 Percentage Change: + 0.57% Day High: 627 Day Low: 610.5
If IG Group experiences continued weakness below 610.5, it will invariabl ……..
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View Previous IG Group & Big Picture ***
LSE:ITM ITM Power. Close Mid-Price: 67.98 Percentage Change: + 2.26% Day High: 68.66 Day Low: 63.56
Target met. Weakness on ITM Power below 63.56 will invariably lead to 62p ……..
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View Previous ITM Power & Big Picture ***
LSE:NWG Natwest Close Mid-Price: 215.3 Percentage Change: -1.46% Day High: 219.2 Day Low: 214.7
Target met. Continued weakness against NWG taking the price below 214.7 c ……..
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View Previous Natwest & Big Picture ***
LSE:OXIG Oxford Instruments Close Mid-Price: 1834 Percentage Change: -0.65% Day High: 1852 Day Low: 1790
In the event Oxford Instruments experiences weakness below 1790 it calcul ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:PHP Primary Health Close Mid-Price: 85.5 Percentage Change: -1.55% Day High: 86.4 Day Low: 84.3
Target met. Weakness on Primary Health below 84.3 will invariably lead to ……..
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View Previous Primary Health & Big Picture ***
LSE:SPX Spirax. Close Mid-Price: 8262 Percentage Change: + 1.08% Day High: 8258 Day Low: 8094
In the event Spirax experiences weakness below 8094 it calculates with a ……..
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View Previous Spirax & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 104.55 Percentage Change: -0.19% Day High: 106.2 Day Low: 102.3
If Taylor Wimpey experiences continued weakness below 102.3, it will inva ……..
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View Previous Taylor Wimpey & Big Picture ***