#Gold #SP500 As we slide down the slope toward the end of 2023, we decided we’d take a look at shares which were studied exactly a year ago and see how they’d performed. After all, the UK market hasn’t exactly been poised to deliver a quick buck to traders, instead performing with even slower speed of response for those folk calling a local council “pothole emergency” line.
Our local situation here in Argyll was proving fascinating, another flash flood swiftly removing road repairs from just a month earlier, creating a dangerous and deep pothole which, of course, filled with water. The sizeable trench quite literally acted as a car trap and when each vehicle was cleared, another would shortly afterward drive into the hole and come to an emergency stop. We were annoyed when our large Toyota 4WD had its exhaust damaged today, when my wife splashed through what she thought was a puddle. The local council “hotline” claimed it was receiving higher volumes of call but after 90 minutes on speakerphone, we decided to take a snapshot and just drive up to the council offices. It transpired they’d already despatched someone who’d trashed his van in the trench, was collected by another council vehicle, and in the excitement, forgot to emplace warning signs and traffic cones. But his van was still stuck and did have hazard lights flashing! By the time we headed home, emergency traffic lights were now in place
We must be the only part of the UK where the area is served by huge LED screens, alerting folk when the main A-class road is actually open. Everywhere else uses these signs to warn of closures but in Argyll, rather than fix a problem with landslides, the council deem a large sign saying “A83 Currently Open” resolves their lack of action quite neatly.
A year ago, we produced a scenario for Tesco, suggesting the potential of a share price lift to 259p initially with secondary, if beaten, at 266p. It took until the end of April for this to come to fruition, the share price eventually opting to toddle a little higher to 285 before falling back. This shouldn’t have been a surprise as we’d suspected the proximity of our target levels was suggesting some inevitable hesitations and this certainly proved to be the case. Despite exceed our target levels quite comprehensively, the share price managed to tumble back to 244, recovering to our 266p level repeatedly until September, when some effort was made to leverage Tesco share price upward again.
After all, there’s no point in exceeding our target levels, if a share price doesn’t intend to explore new highs.
At time of writing, Tesco are trading around 290p and doubtless poised to continue to reap the benefits of what the FT coined as “greedflation”, the policy of many supermarkets to increase prices well beyond anything justified by outside factors such as wages, fuel costs, electricity, etc. Instead, they appear to be attempting a method which is quite basic and brutal. Increase prices by, for instance, 25% and if sales only drop by 20%, their profit margin will benefit. This methodology has been most noticed in their petrol stations, an area where both Tesco & Morrison’s excel in failing to follow the wholesale price of fuel.
For now, should Tesco manage above 292p, we shall regard the share price as being on a road toward an initial 310p with our secondary, if exceeded, now calculating at a very comfortable looking long term 348p Visually, there’s quite a strong suggestion closure above 310p shall be significant, making it difficult for the share price to abandon its attempts at future gains.
If everything intends go turkey shaped, the share price needs delve below 208p to suggest panic. To be fair, even below 278p would now justify a raised eyebrow.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:06:37PM | BRENT | 7599.4 | ‘cess | ||||||||
| 10:20:34PM | GOLD | 1981.6 | 1975 | 1945 | 1921 | 1984 | 1985 | 1993 | 1999 | 1980 | ‘cess |
| 10:23:23PM | FTSE | 7547.5 | ‘cess | ||||||||
| 10:27:23PM | STOX50 | 4541 | |||||||||
| 10:29:56PM | GERMANY | 16814.6 | |||||||||
| 10:32:21PM | US500 | 4620 | 4596 | 4589 | 4578 | 4610 | 4622 | 4635 | 4648 | 4600 | ‘cess |
| 10:35:39PM | DOW | 36405.5 | ‘cess | ||||||||
| 10:39:20PM | NASDAQ | 16227.1 | ‘cess | ||||||||
| 10:42:17PM | JAPAN | 33107.8 | Success |
11/12/2023 FTSE Closed at 7544 points. Change of -0.13%. Total value traded through LSE was: £ 4,699,736,729 a change of -1.07%
8/12/2023 FTSE Closed at 7554 points. Change of 0.55%. Total value traded through LSE was: £ 4,750,603,507 a change of -16.53%
7/12/2023 FTSE Closed at 7513 points. Change of -0.03%. Total value traded through LSE was: £ 5,691,416,870 a change of -34.9%
6/12/2023 FTSE Closed at 7515 points. Change of 0.35%. Total value traded through LSE was: £ 8,742,933,283 a change of 113.36%
5/12/2023 FTSE Closed at 7489 points. Change of -0.31%. Total value traded through LSE was: £ 4,097,792,180 a change of -8.47%
4/12/2023 FTSE Closed at 7512 points. Change of -0.23%. Total value traded through LSE was: £ 4,476,825,041 a change of -0.54%
1/12/2023 FTSE Closed at 7529 points. Change of 1.02%. Total value traded through LSE was: £ 4,501,021,882 a change of -55.19%
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:BLOE Block Energy PLC** **LSE:CCL Carnival** **LSE:EXPN Experian** **LSE:IHG Intercontinental Hotels Group** **LSE:MKS Marks and Spencer** **LSE:RR. Rolls Royce** **LSE:SCLP Scancell** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:TSCO Tesco** **
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Updated charts published on : Barrett Devs, Block Energy PLC, Carnival, Experian, Intercontinental Hotels Group, Marks and Spencer, Rolls Royce, Scancell, Scottish Mortgage Investment Trust, Tesco,
LSE:BDEV Barrett Devs. Close Mid-Price: 541.8 Percentage Change: + 0.97% Day High: 545.4 Day Low: 535.8
Further movement against Barrett Devs ABOVE 545.4 should improve accelera ……..
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View Previous Barrett Devs & Big Picture ***
LSE:BLOE Block Energy PLC Close Mid-Price: 0.75 Percentage Change: -9.09% Day High: 0.85 Day Low: 0.72
If Block Energy PLC experiences continued weakness below 0.72, it will in ……..
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View Previous Block Energy PLC & Big Picture ***
LSE:CCL Carnival Close Mid-Price: 1261 Percentage Change: -1.94% Day High: 1296 Day Low: 1259
Further movement against Carnival ABOVE 1296 should improve acceleration ……..
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View Previous Carnival & Big Picture ***
LSE:EXPN Experian. Close Mid-Price: 3121 Percentage Change: + 1.30% Day High: 3130 Day Low: 3072
Target met. In the event of Experian enjoying further trades beyond 3130, ……..
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View Previous Experian & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 6912 Percentage Change: + 1.20% Day High: 6958 Day Low: 6818
Continued trades against IHG with a mid-price ABOVE 6958 should improve t ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 265 Percentage Change: + 1.84% Day High: 265.5 Day Low: 257.4
Target met. Continued trades against MKS with a mid-price ABOVE 265.5 sho ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 296.9 Percentage Change: + 2.63% Day High: 298.1 Day Low: 291
Target met. Continued trades against RR. with a mid-price ABOVE 298.1 sho ……..
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View Previous Rolls Royce & Big Picture ***
LSE:SCLP Scancell Close Mid-Price: 10.88 Percentage Change: -2.03% Day High: 11.12 Day Low: 10.88
Continued weakness against SCLP taking the price below 10.88 calculates a ……..
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View Previous Scancell & Big Picture ***
LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 747 Percentage Change: + 0.51% Day High: 750.8 Day Low: 739
Continued trades against SMT with a mid-price ABOVE 750.8 should improve ……..
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View Previous Scottish Mortgage Investment Trust & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 290.5 Percentage Change: + 0.90% Day High: 291.2 Day Low: 287.8
All Tesco needs are mid-price trades ABOVE 291.2 to improve acceleration ……..
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View Previous Tesco & Big Picture ***