#Gold #SP500 We reviewed Legal and General back in July, confidently predicting the potential of reversal to 193p and below. An email politely enquired, if we’d like to change our stance on the share, given it “only” fell to 203p and appears to be bouncing? This thankfully gives us an excuse to present recent movements as a ‘learning opportunity’, rather than admit we got it wrong!
The ‘Learning Opportunity’ comes from what occurred, once the share price bounced as two separate and hopefully significant things took place.
Firstly, the price of LGEN closed above the level of the trend break, on November 13th ending the day at 225p. This ticks a pretty important box as generally we take this as a signal everything has changed.
Secondly, and perhaps more importantly, the share price has chosen to regain the prior Red uptrend, quite literally manipulated (gapped) above the trend on November 15th and this provides what is usually a strong indication the market has had a change of heart for the future. Despite the share price squirming around like a Conservative politician, when asked about Covid-19 events, our inclination is to take hope for the immediate future.
Currently, above 232p should prove capable of triggering a nod in the direction of 240p with our longer term secondary, if bettered, at a future 270p. This secondary is doubtless going to prove important, if achieved, as it has the capability of declaring a new high for the share price in 2023, especially as it dumps the price into a zone where a distant cycle to 308p can be expected.
As usual, we can provide a slightly vague converse scenario as perhaps the market shall indulge its sense of humour, one which suggests weakness next below 224p risks promoting the idea of reversal down to 205p. If broken, our secondary calculates at 191p and hopefully a bounce.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:58:43PM | BRENT | 8187.7 | |||||||||
| 10:03:45PM | GOLD | 1977.41 | 1966 | 1954 | 1944 | 1969 | 1983 | 1986 | 1993 | 1972 | Success |
| 10:06:14PM | FTSE | 7490 | |||||||||
| 10:10:15PM | STOX50 | 4345 | |||||||||
| 10:12:49PM | GERMANY | 15925 | |||||||||
| 10:15:30PM | US500 | 4547.6 | 4505 | 4486 | 4462 | 4525 | 4559 | 4611 | 4683 | 4497 | ‘cess |
| 10:25:53PM | DOW | 35154.3 | |||||||||
| 10:28:25PM | NASDAQ | 16025.9 | |||||||||
| 10:31:49PM | JAPAN | 33404 | Success |
20/11/2023 FTSE Closed at 7496 points. Change of -0.11%. Total value traded through LSE was: £ 4,514,299,465 a change of -13.95%
17/11/2023 FTSE Closed at 7504 points. Change of 1.27%. Total value traded through LSE was: £ 5,245,946,356 a change of -1.73%
16/11/2023 FTSE Closed at 7410 points. Change of -1.02%. Total value traded through LSE was: £ 5,338,555,524 a change of -8.11%
15/11/2023 FTSE Closed at 7486 points. Change of 0.62%. Total value traded through LSE was: £ 5,809,987,386 a change of 5.78%
14/11/2023 FTSE Closed at 7440 points. Change of 0.2%. Total value traded through LSE was: £ 5,492,695,208 a change of 7.64%
13/11/2023 FTSE Closed at 7425 points. Change of 0.88%. Total value traded through LSE was: £ 5,102,955,229 a change of 1.94%
10/11/2023 FTSE Closed at 7360 points. Change of -1.27%. Total value traded through LSE was: £ 5,005,893,152 a change of 2.35%
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:BDEV Barrett Devs** **LSE:FOXT Foxtons** **LSE:IAG British Airways** **LSE:MMAG Music Magpie** **LSE:TLW Tullow** **
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Updated charts published on : Barrett Devs, Foxtons, British Airways, Music Magpie, Tullow,
LSE:BDEV Barrett Devs. Close Mid-Price: 487.2 Percentage Change: + 0.66% Day High: 488.6 Day Low: 481.5
Continued trades against BDEV with a mid-price ABOVE 488.6 should improve ……..
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View Previous Barrett Devs & Big Picture ***
LSE:FOXT Foxtons. Close Mid-Price: 43.2 Percentage Change: + 6.67% Day High: 44.5 Day Low: 41
Target met. Further movement against Foxtons ABOVE 44.5 should improve ac ……..
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View Previous Foxtons & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 163.6 Percentage Change: + 0.55% Day High: 164.4 Day Low: 162.3
Target met. All British Airways needs are mid-price trades ABOVE 164.4 t ……..
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View Previous British Airways & Big Picture ***
LSE:MMAG Music Magpie. Close Mid-Price: 23.2 Percentage Change: + 23.73% Day High: 26 Day Low: 21.35
Further movement against Music Magpie ABOVE 26 should improve acceleratio ……..
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View Previous Music Magpie & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 38 Percentage Change: + 0.96% Day High: 38.46 Day Low: 35.88
In the event of Tullow enjoying further trades beyond 38.46, the share sh ……..
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View Previous Tullow & Big Picture ***