#gold #Nasdaq A chum who usually finds excuses to visit us here in Argyll anywhere from once a week to once a month, hasn’t been seen this year. On the phone the other day, he assured he hadn’t lost interest in golf, fishing, shooting, or hunting trees with the big chainsaws. It’s just that his business decided to “go crazy” from May onwards and the one thing he learned from the pandemic years was important. Making money – and keeping it – matters a lot! His company specialise in pre-demolition surveys and over the years, we’ve noticed when he’s busy, the stock market usually does quite well. From a stock market perspective, this year has been an exception but there are certainly signs the construction industry is finally picking itself up, along with some fairly strong potentials showing in other previously stagnant sectors.
Obviously the hope 2024 shall bring some return to sanity with Interest Rates is a valid reason for some positive behaviour in the sector, especially due to serious doubt now being expressed by economists as to whether Interest Rates actually are a genuine tool to fight inflation. It’s certainly been an expensive experiment, if factoring in the damage inflicted on homeowners and many small business, as this lesson was taught quite firmly in the 1980’s.
Anyway, the good news from our chat on the phone is my chum and his wife are coming across for a week over New Year and also, he asked for an update on the outlook for Taylor Wimpey!
The last two months has been very positive for the builder, their share price finally breaking upward and currently fondling the downtrend since 2007. We suspect the price shall probably break upward as movement now above 146p should be capable of triggering movement to an initial 152p and some probable hesitation, if only due to selling pressure from folk who cannot believe their luck. The climb from 102p on October 23rd has been virtually relentless and despite the most recent three sessions pointing at interference due to the Blue downtrend, we’re not convinced it shall last. Above 153p now calculates with the potential of a pretty confident visit to 175p and a share price level where the visuals almost promise hesitation, due to the number of folk trapped since the highs of 2021 exerting selling pressure.
Should the upward break occur as expected, the price needs close a session below 142p to spoil all our positive calculations, forcing us back to the Ouija board.
There is a risk closing a session below Blue shall dump the share back in a zone where an eventual 107p calculates as possible but visually, we have doubts.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:15:28PM | BRENT | 7826.3 | ‘cess | ||||||||
| 9:17:40PM | GOLD | 2026.2 | 2012 | 2001 | 1985 | 2028 | 2038 | 2043 | 2052 | 2025 | |
| 9:19:34PM | FTSE | 7612.4 | |||||||||
| 9:21:46PM | STOX50 | 4522.6 | ‘cess | ||||||||
| 9:24:19PM | GERMANY | 16670 | Success | ||||||||
| 9:32:18PM | US500 | 4738 | 4718 | 4708 | 4694 | 4736 | 4751 | 4757 | 4764 | 4721 | ‘cess |
| 9:34:35PM | DOW | 37283 | |||||||||
| 9:36:43PM | NASDAQ | 16714.8 | ‘cess | ||||||||
| 9:40:12PM | JAPAN | 32770 |
18/12/2023 FTSE Closed at 7614 points. Change of 0.5%. Total value traded through LSE was: £ 4,288,360,200 a change of -64.11%
15/12/2023 FTSE Closed at 7576 points. Change of -0.94%. Total value traded through LSE was: £ 11,949,408,359 a change of 47.73%
14/12/2023 FTSE Closed at 7648 points. Change of 1.32%. Total value traded through LSE was: £ 8,088,595,771 a change of 41.45%
13/12/2023 FTSE Closed at 7548 points. Change of 0.08%. Total value traded through LSE was: £ 5,718,449,628 a change of 4.86%
12/12/2023 FTSE Closed at 7542 points. Change of -0.03%. Total value traded through LSE was: £ 5,453,180,069 a change of 16.03%
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%
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:ASC Asos** **LSE:CPI Capita** **LSE:ITRK Intertek** **LSE:RKH Rockhopper** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : Asos, Capita, Intertek, Rockhopper, Scottish Mortgage Investment Trust, Taylor Wimpey,
LSE:ASC Asos. Close Mid-Price: 415 Percentage Change: + 2.60% Day High: 420 Day Low: 397.9
Continued trades against ASC with a mid-price ABOVE 420 should improve th ……..
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View Previous Asos & Big Picture ***
LSE:CPI Capita. Close Mid-Price: 21.74 Percentage Change: + 1.40% Day High: 22.58 Day Low: 21.18
Target met. Further movement against Capita ABOVE 22.58 should improve ac ……..
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View Previous Capita & Big Picture ***
LSE:ITRK Intertek Close Mid-Price: 4068 Percentage Change: -0.51% Day High: 4090 Day Low: 4054
Below 3820 risks promoting reversal down to an initial 3540 with secondary ……..
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View Previous Intertek & Big Picture ***
LSE:RKH Rockhopper Close Mid-Price: 10.3 Percentage Change: -2.60% Day High: 10.85 Day Low: 10.15
Weakness on Rockhopper below 10.15 will invariably lead to 9.5p with seco ……..
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View Previous Rockhopper & Big Picture ***
LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 784.8 Percentage Change: + 0.00% Day High: 800.4 Day Low: 782.6
Target met. Further movement against Scottish Mortgage Investment Trust A ……..
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View Previous Scottish Mortgage Investment Trust & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 143.45 Percentage Change: -0.10% Day High: 145.5 Day Low: 141.85
Further movement against Taylor Wimpey ABOVE 145.5 should improve acceler ……..
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View Previous Taylor Wimpey & Big Picture ***