#Gold #WallSt The market has been behaving quite strangely this year and there’s a surprising underlying bias about a majority of share price movements. Basically, at first glance, it’s pretty difficult to avoid awarding a mental “buy” against rather a lot of stocks. For instance, a quick scan of the top 30 shares traded on Monday revealed just 4 as “we don’t have a clue”, 24 as “probably a buy” and just 2 as “This almost MUST go up”.
This is a set of results we’re not used to seeing, generally the criteria we use tending to give a 50:50 result between “Buy” and “Sell” results. Our rules are, from our perspective, fairly simple. We review price movements over the prior 50 days and apply our target arguments. Those shares regularly breaking drop targets are awarded a “Sell” bias, whereas those regularly exceeding gain arguments are viewed rather more positively. We notice analysts are rating SSE Plc as a “Strong Buy” but we’re inclined to be slightly less enthusiastic. For us to generate such an opinion, the share price would require to exceed an immediate downtrend and also be painting “Higher Highs”, something SSE are conspicuously avoiding. Market analysts use different criteria than ours, focussing on Fundamentals while our own style is to judge what the market looks like doing.
Thankfully, our track record with this approach is self evident.
And so, while some grown ups rate SSE as a Strong Buy, our inclination is to rate is as a possible Buy. We note the recent spike to 1697p was encouraging, especially as our in-house logic “only” pointed to 1677p. With it once again exceeding a gain target, we felt safe pinning the appropriate badge on the company. However, at time of writing, the share price needs better 1777.685p to exceed the immediate Blue downtrend and give considerable hope for the longer term. Above 1777p calculates with the potential of a lift to an initial 1816p with our longer term secondary, if beaten, at 1935p.
If things intend go wrong for SSE Plc, their share price needs fall below 1547 to provoke some panic as this looks capable of triggering reversal down to an initial 1467p with our secondary, if broken, at a hopeful bottom of 1315p. One final detail is perhaps worthy of mention.
From viewing the SSE chart, along with the plethora of Buy signals, it becomes probable an undercurrent of optimism is liable to start pushing the FTSE upward, finally breaking from of the hiatus since 2021 we constantly moan about!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:57:38PM | BRENT | 8209.6 | 8164 | ‘cess | |||||||
| 10:01:26PM | GOLD | 2182.24 | 2169 | 2163 | 2152 | 2184 | 2189 | 2195 | 2204 | 2177 | |
| 10:07:22PM | FTSE | 7692 | 7676 | ‘cess | |||||||
| 10:09:44PM | STOX50 | 4938.2 | 4930 | ‘cess | |||||||
| 10:12:34PM | GERMANY | 17802.7 | 17752 | Success | |||||||
| 10:19:54PM | US500 | 5131.7 | 5119 | ‘cess | |||||||
| 10:22:18PM | DOW | 38819 | 38665 | 38595 | 38517 | 38755 | 38831 | 38897 | 39038 | 38732 | ‘cess |
| 10:24:50PM | NASDAQ | 18018.7 | 17950 | ‘cess | |||||||
| 10:28:52PM | JAPAN | 38581 | 38403 | Success |
11/03/2024 FTSE Closed at 7669 points. Change of 0.13%. Total value traded through LSE was: £ 6,256,339,396 a change of 13.77%
8/03/2024 FTSE Closed at 7659 points. Change of -0.43%. Total value traded through LSE was: £ 5,498,882,120 a change of -31.93%
7/03/2024 FTSE Closed at 7692 points. Change of 0.17%. Total value traded through LSE was: £ 8,077,896,758 a change of 24.94%
6/03/2024 FTSE Closed at 7679 points. Change of 0.43%. Total value traded through LSE was: £ 6,465,210,839 a change of 16.73%
5/03/2024 FTSE Closed at 7646 points. Change of 0.08%. Total value traded through LSE was: £ 5,538,797,167 a change of -5.01%
4/03/2024 FTSE Closed at 7640 points. Change of -0.55%. Total value traded through LSE was: £ 5,830,824,809 a change of -4.21%
1/03/2024 FTSE Closed at 7682 points. Change of 0.68%. Total value traded through LSE was: £ 6,087,264,861 a change of -41.68% 
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:CPI Capita** **LSE:DARK Darktrace Plc** **LSE:HSBA HSBC** **LSE:TLW Tullow** **
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Updated charts published on : Barclays, Capita, Darktrace Plc, HSBC, Tullow,
LSE:BARC Barclays. Close Mid-Price: 173.8 Percentage Change: + 0.91% Day High: 174.38 Day Low: 169.06
Further movement against Barclays ABOVE 174.38 should improve acceleratio ……..
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View Previous Barclays & Big Picture ***
LSE:CPI Capita Close Mid-Price: 14.62 Percentage Change: -7.06% Day High: 15.57 Day Low: 14.52
Weakness on Capita below 14.52 will invariably lead to 13p with secondary ……..
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View Previous Capita & Big Picture ***
LSE:DARK Darktrace Plc. Close Mid-Price: 436.2 Percentage Change: + 15.58% Day High: 437 Day Low: 378.5
Continued trades against DARK with a mid-price ABOVE 437 should improve t ……..
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View Previous Darktrace Plc & Big Picture ***
LSE:HSBA HSBC Close Mid-Price: 575.8 Percentage Change: -0.71% Day High: 581 Day Low: 572.9
If HSBC experiences continued weakness below 572.9, it will invariably le ……..
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View Previous HSBC & Big Picture ***
LSE:TLW Tullow Close Mid-Price: 27.1 Percentage Change: -4.04% Day High: 28.96 Day Low: 26.86
Weakness on Tullow below 26.86 will invariably lead to 20.75p with second ……..
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View Previous Tullow & Big Picture ***