#Gold #Nasdaq Everyone knows all the dangers associated with bottom feeding, trying to discriminate the exact level at which a share shall stop going down and start bouncing. We’re fairly sure, if a way was ever found to drain the stock market, the bottom would be littered with the bones of investors murdered by the torrents of falling knives, each convinced they’d finally be the hero in their own story.
There’s a converse scenario, one just as fraught with trouble, easily spotted when a share price keeps going up. This path to fabulous ascendance is, similar to Mount Everest, dusted with the bodies of those who believed things could go no higher, opting to escape a soaring share price as “No-one ever went broke, making a profit!”. The emotional similarity to a failing share price is quite fascinating, both attempts at maximising profit essentially routed firmly in greed rather than common sense.
3i Group currently provide quite a useful case in point. Their share price is soaring higher than ever, doubtless attracting the usual bunch who’re ready to claim the opened a short position the moment they noticed it had stopped going higher. We’ve shown a little chart extract, one which is doubtless pretending to advise nervous investors 3i share price has reached a plateau, one where some trouble should be anticipated. The analytical investors shall convince themselves the 30 quid level is about to provide a hurdle beyond which the price clearly cannot go, the immediate period of flatlining doubtless indicating a halt to any buying frenzy.
We’re not entirely convinced this shall prove to be the case. On the chart, we’ve circled an area from 2023, a point where the share price previously discovered a case of “nerves” just above the 20 quid level. Folk armed with long term charts would quickly notice this was the high of the share price back in the year 2000 and it’s certain a fair number of traders successfully convinced themselves the price had reached a natural barrier, opting to pocket their profit, then watching aghast as the share price continued to climb by almost 50%.
We don’t trust these plateau as shown on the chart below, especially when they occur as a share price is climbing. We’ve even coined a pet name for them, a flat trend. When a share price successfully closes above such a flat trend, it’s almost always a signal the climbing season is again upon us.
In the case of 3i Group, share price closure above 2323p shall give some hope or, more probably from an intraday perspective, movement exceeding 2858p giving a solid suggestion movement to an initial 3003p has become our next ambition with secondary, if bettered, at 3336p. We’ve a whole bunch of reasons to anticipate some price hesitation at this secondary level but would warn investors to take care. If the market starts to “gap” 3i share price up at the open any time now, we shall take this as a signal they also intend to climb past 3336p sometime in the future.
If things intend go wrong, the price needs below 2229p (red) to indicate slight panic, giving the potential of weakness possible to a future 1575p, if everything intends go really wrong. Visually, we doubt it.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 8:53:12PM | BRENT | 9030.2 | Success | ||||||||
| 8:56:10PM | GOLD | 2337.79 | 2319 | 2307 | 2292 | 2336 | 2344 | 2349 | 2359 | 2332 | |
| 8:58:37PM | FTSE | 7943.3 | Success | ||||||||
| 9:00:52PM | STOX50 | 5034.6 | ‘cess | ||||||||
| 9:04:42PM | GERMANY | 18294.9 | Success | ||||||||
| 9:14:23PM | US500 | 5207.3 | |||||||||
| 9:18:36PM | DOW | 38928.5 | |||||||||
| 9:23:15PM | NASDAQ | 18117 | 18047 | 18015 | 17949 | 18141 | 18213 | 18252 | 18321 | 18106 | |
| 9:25:35PM | JAPAN | 39440 | ‘cess |
8/04/2024 FTSE Closed at 7943 points. Change of 0.4%. Total value traded through LSE was: £ 5,358,628,061 a change of -25.26%
5/04/2024 FTSE Closed at 7911 points. Change of -0.8%. Total value traded through LSE was: £ 7,169,871,265 a change of 23.49%
4/04/2024 FTSE Closed at 7975 points. Change of 0.48%. Total value traded through LSE was: £ 5,806,012,925 a change of -4.14%
3/04/2024 FTSE Closed at 7937 points. Change of 0.03%. Total value traded through LSE was: £ 6,056,901,297 a change of -5.31%
2/04/2024 FTSE Closed at 7935 points. Change of -0.21%. Total value traded through LSE was: £ 6,396,592,284 a change of 13.98%
28/03/2024 FTSE Closed at 7952 points. Change of -100%. Total value traded through LSE was: £ 5,611,823,607 a change of 0%
27/03/2024 FTSE Closed at 7931 points. Change of 0%. Total value traded through LSE was: £ 6,984,265,081 a change of 0% 
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:AAL Anglo American** **LSE:BP. BP PLC** **LSE:CEY Centamin** **LSE:EZJ EasyJet** **LSE:GKP Gulf Keystone** **LSE:HSBA HSBC** **LSE:OCDO Ocado Plc** **LSE:SCLP Scancell** **LSE:TERN Tern Plc** **
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Updated charts published on : Anglo American, BP PLC, Centamin, EasyJet, Gulf Keystone, HSBC, Ocado Plc, Scancell, Tern Plc,
LSE:AAL Anglo American. Close Mid-Price: 2155 Percentage Change: + 3.21% Day High: 2154 Day Low: 2094.5
Further movement against Anglo American ABOVE 2154 should improve acceler ……..
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View Previous Anglo American & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 509.9 Percentage Change: + 0.75% Day High: 513.8 Day Low: 503.9
Continued trades against BP. with a mid-price ABOVE 513.8 should improve ……..
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View Previous BP PLC & Big Picture ***
LSE:CEY Centamin. Close Mid-Price: 121.1 Percentage Change: + 1.25% Day High: 121.5 Day Low: 118.4
Target met. Continued trades against CEY with a mid-price ABOVE 121.5 sho ……..
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View Previous Centamin & Big Picture ***
LSE:EZJ EasyJet. Close Mid-Price: 577.8 Percentage Change: + 3.33% Day High: 583.4 Day Low: 560.6
All EasyJet needs are mid-price trades ABOVE 583.4 to improve acceleratio ……..
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View Previous EasyJet & Big Picture ***
LSE:GKP Gulf Keystone. Close Mid-Price: 119 Percentage Change: + 8.08% Day High: 126 Day Low: 112.3
Continued trades against GKP with a mid-price ABOVE 126 should improve th ……..
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View Previous Gulf Keystone & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 644.5 Percentage Change: + 0.48% Day High: 646 Day Low: 637.6
All HSBC needs are mid-price trades ABOVE 646 to improve acceleration tow ……..
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View Previous HSBC & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 375.1 Percentage Change: -1.21% Day High: 384.7 Day Low: 366.7
Weakness on Ocado Plc below 366.7 will invariably lead to 365p with secon ……..
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View Previous Ocado Plc & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 10.25 Percentage Change: + 0.00% Day High: 10.25 Day Low: 9.75
Continued weakness against SCLP taking the price below 9.75 calculates as ……..
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View Previous Scancell & Big Picture ***
LSE:TERN Tern Plc. Close Mid-Price: 3.1 Percentage Change: + 8.77% Day High: 3.15 Day Low: 2.85
Continued trades against TERN with a mid-price ABOVE 3.15 should improve ……..
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View Previous Tern Plc & Big Picture ***