#FTSE #Stoxx Generally, the ability to play a few instruments (poorly) gives an air of confidence, one which was generally topped up with the old Ken Bruce ‘Popmaster’ radio quiz. While in a waiting room for an appointment, folk were talking about music and someone mentioned “The Ketchup Song” as an example of how European music can be fun and enjoyable. Admitting I’d never heard of the song title, now I know what a moth in a spotlight feels like. Patiently, it was explained the track was around 20 years ago and had hit the top of the charts throughout Europe and most other places.
While hanging my head in shame, another of the folk waiting for their appointment found and played the tune of their phone, once again forcing an admission that not only the song title was new to me but I’d literally never heard the track or, if I had, it hadn’t registered. Needless to say, “The Ketchup Song” had an associated dance which another of the attendees tried to enact from her seat. All things considered, it was probably one of the strangest experiences in a hospital waiting room, especially as one of the nurses wanted to hear it again. Returning home, it was inevitable I’d pick up a guitar to try and sort out the melody in preparation for ambushing my grand-daughters next weekend. But when I told their mum, it transpires the girls know the tune, know the words, and can do the dance, despite it charting 11 years before the eldest was even born. My only defence was my own daughter was aghast I’d never come across the track as she’d assumed I already could play it, just chose not to.
This has quite a lot to do with Legal and General, a share we’ve not really had the need to discuss for almost a couple of years but a brief panic over a comment on Twitter made us wonder if this was going to a a “Ketchup Song” moment, discovering the share had run amok without us noticing. Thankfully, it hadn’t but provided a sharp reminder for the reason we scan so many major shares on a daily basis in the hope of spotting an action before it happens.
Currently, Legal and General continues to tread its path in the valley between optimism and pessimism, seemingly unaware of movements being made across the wider FTSE. In fact, the current share price is almost exactly 50% of the value between the pre-pandemic high and the pandemic drop of 2020, this despite the retail banks now showing an almost reasonable effort to make themselves interesting again. Perhaps it shall be the case where LGEN shall prove to be a sleeper, though to be honest, aside from the usual Pandemic misbehaviour, LGEN has been slumbering since 2014.
Visually, the immediate situation looks quite straightforward as LGEN only need exceed 260p to hopefully start a track in the direction of 306p initially. Closure above 306p should provide a major clue for the longer term, moving the price into a region where a cycle to a future 329p calculates as possible, a new all time high and a price level at which a distant 393p is supposed to be exerting an influence.
Should things intend go wrong, below 230p looks difficult, capable of triggering reversal to an initial 210p with secondary, if broken, down at a visually unlikely 176p and hopefully a rebound.
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FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:40:09PM | BRENT | 8262 | |||||||||
| 9:42:48PM | GOLD | 2356 | ‘cess | ||||||||
| 9:45:28PM | FTSE | 8439.7 | 8394 | 8368 | 8340 | 8418 | 8453 | 8472 | 8498 | 8426 | |
| 9:48:49PM | STOX50 | 5089.9 | 5068 | 5057 | 5044 | 5079 | 5096 | 5104 | 5121 | 5080 | ‘cess |
| 9:51:59PM | GERMANY | 18763 | ‘cess | ||||||||
| 9:55:22PM | US500 | 5244.3 | |||||||||
| 9:58:21PM | DOW | 39557.8 | ‘cess | ||||||||
| 10:01:19PM | NASDAQ | 18311 | ‘cess | ||||||||
| 10:03:57PM | JAPAN | 38589 | Success |
14/05/2024 FTSE Closed at 8428 points. Change of 0.17%. Total value traded through LSE was: £ 6,735,233,272 a change of 43.21%
13/05/2024 FTSE Closed at 8414 points. Change of -0.23%. Total value traded through LSE was: £ 4,703,191,844 a change of -3.6%
10/05/2024 FTSE Closed at 8433 points. Change of 0.62%. Total value traded through LSE was: £ 4,878,616,617 a change of -3.08%
9/05/2024 FTSE Closed at 8381 points. Change of 0.32%. Total value traded through LSE was: £ 5,033,811,028 a change of -35.46%
8/05/2024 FTSE Closed at 8354 points. Change of 0.49%. Total value traded through LSE was: £ 7,799,424,670 a change of 19.63%
7/05/2024 FTSE Closed at 8313 points. Change of 1.22%. Total value traded through LSE was: £ 6,519,396,072 a change of 33.86%
3/05/2024 FTSE Closed at 8213 points. Change of -100%. Total value traded through LSE was: £ 4,870,153,173 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:BARC Barclays** **LSE:GENL Genel** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:HL. Hargreaves Lansdown** **LSE:IAG British Airways** **LSE:IGG IG Group** **LSE:ITV ITV** **LSE:MMAG Music Magpie** **LSE:NWG Natwest** **LSE:STAN Standard Chartered** **LSE:TLW Tullow** **
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Updated charts published on : Barclays, Genel, Gulf Keystone, Glencore Xstra, British Airways, IG Group, ITV, Music Magpie, Natwest, Standard Chartered, Tullow,
LSE:BARC Barclays. Close Mid-Price: 217.2 Percentage Change: + 1.24% Day High: 218 Day Low: 213.75
Target met. Further movement against Barclays ABOVE 218 should improve ac ……..
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View Previous Barclays & Big Picture ***
LSE:GENL Genel. Close Mid-Price: 94.3 Percentage Change: + 1.73% Day High: 95.3 Day Low: 92.3
All Genel needs are mid-price trades ABOVE 95.3 to improve acceleration t ……..
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View Previous Genel & Big Picture ***
LSE:GKP Gulf Keystone. Close Mid-Price: 135.5 Percentage Change: + 6.44% Day High: 135 Day Low: 128.7
Further movement against Gulf Keystone ABOVE 135 should improve accelerat ……..
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View Previous Gulf Keystone & Big Picture ***
LSE:GLEN Glencore Xstra. Close Mid-Price: 492.5 Percentage Change: + 3.60% Day High: 490.8 Day Low: 475.15
Further movement against Glencore Xstra ABOVE 490.8 should improve accele ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:HL. Hargreaves Lansdown. Close Mid-Price: 877 Percentage Change: + 1.86% Day High: 882 Day Low: 857
Target met. Continued trades against HL. with a mid-price ABOVE 882 shoul ……..
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View Previous Hargreaves Lansdown & Big Picture ***
LSE:IAG British Airways Close Mid-Price: 184.1 Percentage Change: -1.26% Day High: 187.45 Day Low: 184.25
In the event of British Airways enjoying further trades beyond 187.45, t ……..
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View Previous British Airways & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 779.5 Percentage Change: -0.26% Day High: 786 Day Low: 778.5
Continued trades against IGG with a mid-price ABOVE 786 should improve th ……..
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View Previous IG Group & Big Picture ***
LSE:ITV ITV. Close Mid-Price: 79.2 Percentage Change: + 2.92% Day High: 79.1 Day Low: 77.05
Continued trades against ITV with a mid-price ABOVE 79.1 should improve t ……..
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View Previous ITV & Big Picture ***
LSE:MMAG Music Magpie. Close Mid-Price: 5.5 Percentage Change: + 0.00% Day High: 5.5 Day Low: 5
Target met. Continued weakness against MMAG taking the price below 5 calc ……..
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View Previous Music Magpie & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 323.6 Percentage Change: + 1.13% Day High: 324.7 Day Low: 319.7
Target met. Further movement against Natwest ABOVE 324.7 should improve a ……..
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View Previous Natwest & Big Picture ***
LSE:STAN Standard Chartered. Close Mid-Price: 778.4 Percentage Change: + 0.31% Day High: 781.4 Day Low: 767.4
Further movement against Standard Chartered ABOVE 781.4 should improve ac ……..
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View Previous Standard Chartered & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 38.16 Percentage Change: + 0.63% Day High: 39.18 Day Low: 36.6
Further movement against Tullow ABOVE 39.18 should improve acceleration t ……..
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View Previous Tullow & Big Picture ***