#GOLD #BRENT The London Stock Market continues to attract unfavourable opinions with Glencore Plc being the recipient of a rather nasty letter from a major hedge fund, described as an “Activist Investor”. Their letter starts with ‘London is no longer the home of mining’, going on to expand with reasons Glencore should move their listing from London to Sydney, Australia. It’s hard to disagree with some of the points the investor makes and arithmetically, we find it hard to disagree with the notion the company share price is underperforming. We’re not convinced such a malaise is unique to the mining sector, given the plethora of FTSE100 members who’ve opted to jump ship from London and note TUI and Flutter intend do the same later this year.
Across multiple sectors, companies appear to have been struggling on the FTSE for the last three years. Perhaps it’s about time the FTSE opted to rebrand itself or perhaps urge members to divest themselves of retired politicians taking new careers as advisors, instead appointing people with some faith in the future of the country.
Above 435p should prove useful, creating a situation where movement to an initial 486 calculates as possible with our secondary, if bettered, at a longer term 578p and, according to the visuals, some almost certain hesitation, given the level of most recent highs in 2023.
Unfortunately, there’s a massive “however” and it’s shown with the Blue Circled area on the chart. The market opted to gap Glencore down in mid-January this year, celebrating the company decision to decrease the annual dividend along with news of reduced demand from China, ensuring a share price viewed as underperforming by analysts, continued to underperform. We’ve even read one firm of analysts claiming Glencore should be enjoying a share nearly at 10 pounds, Unfortunately, the best we can give at the moment is a third level target of 637p, if everything goes right.
Should things intend go horribly wrong, below 400p looks dangerous, potentially triggering reversal to an initial 377 with our secondary, if broken, at a hopeful bottom of just 340p. Unfortunately, there is also the Red Circled area of the chart to consider. If you look at it the right way and engage the correctly negative mindset, it’s potentially a Head & Shoulders formation. The arithmetic associated with such gives a pretty unpleasant answer, suggesting an eventual bottom of 215p. Due to this, we’d be quite worried should our earlier secondary target of 340p make an appearance as it would signify a lower low.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:00:26PM | BRENT | 8354 | 8203 | 8120 | 8034 | 8262 | 8380 | 8532 | 8822 | 8204 | Success |
| 9:04:39PM | GOLD | 2173.95 | 2155 | 2151 | 2137 | 2166 | 2180 | 2177 | 2181 | 2170 | |
| 9:08:59PM | FTSE | 7781 | ‘cess | ||||||||
| 9:20:56PM | STOX50 | 5003 | ‘cess | ||||||||
| 9:25:16PM | GERMANY | 17967 | ‘cess | ||||||||
| 9:28:15PM | US500 | 5171.9 | |||||||||
| 9:36:46PM | DOW | 39076 | ‘cess | ||||||||
| 9:41:34PM | NASDAQ | 18092.1 | |||||||||
| 9:44:27PM | JAPAN | 38557 |
13/03/2024 FTSE Closed at 7772 points. Change of 0.32%. Total value traded through LSE was: £ 7,270,420,862 a change of 0.35%
12/03/2024 FTSE Closed at 7747 points. Change of 1.02%. Total value traded through LSE was: £ 7,245,332,425 a change of 15.81%
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% 
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:BBY BALFOUR BEATTY** **LSE:CCL Carnival** **LSE:CPI Capita** **LSE:DARK Darktrace Plc** **LSE:EMG MAN** **LSE:FRES Fresnillo** **LSE:HL. Hargreaves Lansdown** **LSE:IPF International Personal Finance** **LSE:ITRK Intertek** **LSE:RR. Rolls Royce** **
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Updated charts published on : BALFOUR BEATTY, Carnival, Capita, Darktrace Plc, MAN, Fresnillo, Hargreaves Lansdown, International Personal Finance, Intertek, Rolls Royce,
LSE:BARC Barclays Close Mid-Price: 177.06 Percentage Change: -0.29% Day High: 179.26 Day Low: 175.02
In the event of Barclays enjoying further trades beyond 179.26, the share ……..
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View Previous Barclays & Big Picture ***
LSE:BBY BALFOUR BEATTY. Close Mid-Price: 372 Percentage Change: + 9.48% Day High: 374.2 Day Low: 338.8
Target met. Further movement against BALFOUR BEATTY ABOVE 374.2 should im ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 1190.5 Percentage Change: + 5.54% Day High: 1194 Day Low: 1147.5
All Carnival needs are mid-price trades ABOVE 1194 to improve acceleratio ……..
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View Previous Carnival & Big Picture ***
LSE:CPI Capita Close Mid-Price: 13.34 Percentage Change: -7.75% Day High: 14.58 Day Low: 13.34
Target met. In the event Capita experiences weakness below 13.34 it calcu ……..
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View Previous Capita & Big Picture ***
LSE:DARK Darktrace Plc. Close Mid-Price: 458.3 Percentage Change: + 0.66% Day High: 473.3 Day Low: 449.9
Target met. In the event of Darktrace Plc enjoying further trades beyond ……..
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View Previous Darktrace Plc & Big Picture ***
LSE:EMG MAN. Close Mid-Price: 255.6 Percentage Change: + 2.36% Day High: 273.4 Day Low: 253
Target met. Further movement against MAN ABOVE 273.4 should improve accel ……..
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View Previous MAN & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 461.7 Percentage Change: -0.56% Day High: 469.5 Day Low: 448.5
Weakness on Fresnillo below 448.5 will invariably lead to 436p with secon ……..
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View Previous Fresnillo & Big Picture ***
LSE:HL. Hargreaves Lansdown Close Mid-Price: 719.6 Percentage Change: -1.56% Day High: 739.8 Day Low: 718.8
If Hargreaves Lansdown experiences continued weakness below 718.8, it wil ……..
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View Previous Hargreaves Lansdown & Big Picture ***
LSE:IPF International Personal Finance Close Mid-Price: 100.5 Percentage Change: -10.67% Day High: 110.5 Day Low: 100.5
Target met. Continued weakness against IPF taking the price below 100.5 c ……..
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View Previous International Personal Finance & Big Picture ***
LSE:ITRK Intertek Close Mid-Price: 5016 Percentage Change: -0.91% Day High: 5068 Day Low: 5012
Further movement against Intertek ABOVE 5068 should improve acceleration ……..
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View Previous Intertek & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 393.8 Percentage Change: + 0.51% Day High: 395.7 Day Low: 388.8
All Rolls Royce needs are mid-price trades ABOVE 395.7 to improve acceler ……..
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View Previous Rolls Royce & Big Picture ***