#FTSE #Stoxx50 We generally avoid share prices below 1p as too often, they become victims on internet chat room speculation which proves capable of provoking irrational movement. Unfortunately, this sort of nonsense is often accompanied by ridiculous spreads from brokers, making profitable trading difficult. We’ve had a bunch of emails asking about 88 Energy in quantity sufficient to force us to take an interest.
Unsurprisingly, news the company intend dilute their issued shares by a few billion new ordinary shares to raise just over £5 million didn’t impress the market in the efforts of the company to “strengthen” their balance sheet and provide capital for ongoing operations. Obviously, this Placing which is designed to provide sufficient funds for at least 12 months, has provoked some reversal on the share price. With the share price already trading substantially below our calculated “Ultimate Bottom”, a price level which the Big Picture doesn’t allow us to calculate below without introducing impossible Minus Signs into target levels. However, there’s a slight chance the current level could be deemed as “a bottom” and provide a price level where a rebound may be possible. But there’s no doubt the share price is a mess.
Viewing it from the present position, below 0.1575 calculates with the risk of reversal to 0.12 with our secondary, if broken, an eventual painful looking 0.08p. These absurd drop target levels may be viewed with an appreciation our Ultimate Bottom is now at -3p!
However, if the market proves kind hearted enough to allow some recovery, it’s now the case where the price need only exceed 0.225p to ideally trigger miracle recovery to an initial 0.45 with our secondary, if bettered, at 0.56p. In this instance, if the market opts to gap the share price up, ongoing acceleration to a third level of 0.78 and some probable hesitation looks amazingly viable.
This one certainly bothers us. We’ve seen plenty of efforts over the years of a company “bilking” shareholders by issuance of a Placing every few years, the share price essentially being driven lower and lower. The eventual endgame of this sort of game generally comes with Price Consolidation, an exercise in “here’s one brand new share in return for 100 of your old shares”, giving a phony reason for the share price to suddenly be shown at a respectable level. It’s one of the other reasons we tend avoid shares when their price declines below 1p.
But should 88 Energy stumble above 0.225p, there’s certainly a chance something useful may happen.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 8:46:14PM | BRENT | 8736.7 | Success | ||||||||
| 8:51:35PM | GOLD | 2322.4 | ‘cess | ||||||||
| 8:55:37PM | FTSE | 8069.3 | 8020 | 7993 | 7964 | 8050 | 8082 | 8101 | 8128 | 8059 | |
| 8:58:26PM | STOX50 | 5018.5 | 4943 | 4919 | 4884 | 4980 | 5025 | 5033 | 5106 | 5002 | ‘cess |
| 9:02:27PM | GERMANY | 18159.3 | |||||||||
| 9:05:10PM | US500 | 5070 | ‘cess | ||||||||
| 9:13:41PM | DOW | 38487 | |||||||||
| 9:16:52PM | NASDAQ | 17496.4 | Success | ||||||||
| 9:19:35PM | JAPAN | 37876 | ‘cess |
23/04/2024 FTSE Closed at 8044 points. Change of 0.26%. Total value traded through LSE was: £ 6,436,213,150 a change of 18.32%
22/04/2024 FTSE Closed at 8023 points. Change of 1.62%. Total value traded through LSE was: £ 5,439,622,583 a change of -22.9%
19/04/2024 FTSE Closed at 7895 points. Change of 0.23%. Total value traded through LSE was: £ 7,055,208,688 a change of 7.7%
18/04/2024 FTSE Closed at 7877 points. Change of 0.38%. Total value traded through LSE was: £ 6,551,072,926 a change of 27.48%
17/04/2024 FTSE Closed at 7847 points. Change of 0.35%. Total value traded through LSE was: £ 5,138,744,008 a change of -8.61%
16/04/2024 FTSE Closed at 7820 points. Change of -1.82%. Total value traded through LSE was: £ 5,622,635,189 a change of 16.7%
15/04/2024 FTSE Closed at 7965 points. Change of -0.38%. Total value traded through LSE was: £ 4,817,927,674 a change of -11.37% 
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:AVCT Avacta** **LSE:AZN Astrazeneca** **LSE:BLOE Block Energy PLC** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:NWG Natwest** **LSE:QED Quadrise** **
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Updated charts published on : Avacta, Astrazeneca, Block Energy PLC, HSBC, British Airways, Natwest, Quadrise,
LSE:AVCT Avacta Close Mid-Price: 44.5 Percentage Change: -0.22% Day High: 45.5 Day Low: 43.25
Weakness on Avacta below 43.25 will invariably lead to 40p with secondary ……..
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LSE:AZN Astrazeneca. Close Mid-Price: 11268 Percentage Change: + 0.16% Day High: 11362 Day Low: 11220
In the event of Astrazeneca enjoying further trades beyond 11362, the sha ……..
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LSE:BLOE Block Energy PLC. Close Mid-Price: 1.68 Percentage Change: + 11.67% Day High: 1.75 Day Low: 1.5
Target met. All Block Energy PLC needs are mid-price trades ABOVE 1.75 to ……..
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LSE:HSBA HSBC. Close Mid-Price: 667.7 Percentage Change: + 0.18% Day High: 669.6 Day Low: 663.8
All HSBC needs are mid-price trades ABOVE 669.6 to improve acceleration t ……..
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LSE:IAG British Airways. Close Mid-Price: 175.95 Percentage Change: + 0.43% Day High: 179.35 Day Low: 176.15
Further movement against British Airways ABOVE 179.35 should improve acc ……..
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LSE:NWG Natwest. Close Mid-Price: 285.8 Percentage Change: + 2.18% Day High: 286.2 Day Low: 281.3
Further movement against Natwest ABOVE 286.2 should improve acceleration ……..
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LSE:QED Quadrise. Close Mid-Price: 1.82 Percentage Change: + 2.10% Day High: 1.88 Day Low: 1.7
In the event of Quadrise enjoying further trades beyond 1.88, the share s ……..
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