#Goldrush #Nasdaq #FTSE There are a bunch of shares where prices dropped to what we call a “logical bottom” at the start of October and we’ve been emailed for our opinion. Some shares are experiencing half hearted bounces. Some can almost justify “real” bounces. Hopefully our calculations for Greatland prove as accurate as our last review in December 2020, when we’d given criteria for a successful 35p, along with criteria for reversal to 12p and worse. Both scenario came to fruition!
We’d initially become interested in Greatland, due to their operations in the areas where the hero of TV’s “Gold Rush” was exploring, intending to open his own operations in Australia. Needless to say, the pandemic stuck its oar in with Australia becoming off limits for a few years and so far, there’s been not a single clue on telly whether the documentary program intends return. However, it is perhaps of note the sheer number of shares currently exploring what we call logical bottoms and if it were not for the case the FTSE has not yet achieved a visit to the 7100 level, we’d be advocating sharp price recovery. Unfortunately, with the FTSE currently several hundred points above our suspected drop target, if the principal UK index intends to continue creating difficult trading conditions, it’s unlikely share prices will suddenly start behaving themselves.
Then again, perhaps the drop in the FTSE to 7324 shall be deemed sufficiently close to our 7100 target, so we’re maybe being hesitant for no reason. Our inclination is to suspect the worst and we should doubtless stop scanning the markets looking for logical bottoms until such time world peace breaks out, interest rates regain sanity, and Brent Crude relaxes to 57 dollars…
If we adopt the stance Greatland has perhaps bottomed, what signals shall be worth watching for, if playing at “Catch the Bounce?”
Trading above just 7.95p looks like it should trigger share price recovery to an initial 9.8p with secondary, if bettered, calculating at a longer term 12.8p. This secondary target looks pretty significant from a Big Picture perspective, the share price needing to close above such a level to introduce the potential of “real” recovery, offering slight succour to those who’ve been trapped since the highs of 2021. Unfortunately, there’s also something important which is worthy of mention.
The first couple of sessions this week produced some really odd share price movements for Greatland, almost like “they” didn’t want the price to go up just yet. As a result, we shall not be surprised if it falls back to the 6p level before a future attempt at bouncing.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:31:58PM | BRENT | 8711.3 | ‘cess | ||||||||
| 9:34:22PM | GOLD | 1971.68 | ‘cess | ||||||||
| 9:38:58PM | FTSE | 7401 | 7325 | 7312 | 7262 | 7371 | 7432 | 7442 | 7481 | 7378 | ‘cess |
| 9:41:30PM | STOX50 | 4069.4 | ‘cess | ||||||||
| 9:44:56PM | GERMANY | 14907.3 | ‘cess | ||||||||
| 9:47:18PM | US500 | 4247.6 | ‘cess | ||||||||
| 9:50:30PM | DOW | 33230.5 | |||||||||
| 9:53:04PM | NASDAQ | 14726.8 | 14598 | 14514 | 14402 | 14710 | 14850 | 14880 | 14918 | 14694 | ‘cess |
| 9:55:46PM | JAPAN | 31247 | ‘cess |
24/10/2023 FTSE Closed at 7389 points. Change of 0.2%. Total value traded through LSE was: £ 4,457,908,651 a change of 13.65%
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%
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:BARC Barclays** **LSE:EXPN Experian** **LSE:IQE IQE** **LSE:LLOY Lloyds Grp.** **LSE:NWG Natwest** **LSE:OXIG Oxford Instruments** **
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Updated charts published on : Barclays, Experian, IQE, Lloyds Grp., Natwest, Oxford Instruments,
LSE:BARC Barclays Close Mid-Price: 134.64 Percentage Change: -6.53% Day High: 139.86 Day Low: 129.58
Target met. If Barclays experiences continued weakness below 129.58, will ……..
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View Previous Barclays & Big Picture ***
LSE:EXPN Experian Close Mid-Price: 2411 Percentage Change: -10.27% Day High: 2706 Day Low: 2410
Target met. If Experian experiences continued weakness below 2410, it wil ……..
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View Previous Experian & Big Picture ***
LSE:IQE IQE Close Mid-Price: 15.12 Percentage Change: -5.14% Day High: 16.06 Day Low: 15.1
Target met. Weakness on IQE below 15.1 will invariably lead to 14p with s ……..
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View Previous IQE & Big Picture ***
LSE:LLOY Lloyds Grp. Close Mid-Price: 40.58 Percentage Change: -2.03% Day High: 40.87 Day Low: 40
Target met. In the event Lloyds Grp. experiences weakness below 40 it cal ……..
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View Previous Lloyds Grp. & Big Picture ***
LSE:NWG Natwest Close Mid-Price: 207.8 Percentage Change: -3.48% Day High: 211.8 Day Low: 206.9
Target met. In the event Natwest experiences weakness below 206.9 it calc ……..
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View Previous Natwest & Big Picture ***
LSE:OXIG Oxford Instruments Close Mid-Price: 1802 Percentage Change: -1.74% Day High: 1824 Day Low: 1786
If Oxford Instruments experiences continued weakness below 1786, it will ……..
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View Previous Oxford Instruments & Big Picture ***