#FTSE #Nasdaq Last time we reviewed Petro Matad, we finished the article with a cautionary note, suggesting “if they intend spoil our calculations, the share need only slip below Red, presently at 3p”. On June 26th this year, with quite a spiteful movement, the share price was firmly gapped downward due to the company successfully selling more shares in the business, thus devaluing the price of every share in issue. From a charty viewpoint, it certainly sends a plethora of mixed messages more confusing than our 25 litres of Merlot which has been fermenting for the last 5 days.
The Merlot grape has an in-built sense of humour, the fermentation process being perfectly gentle. Until it isn’t. An air trap is fitted to the top of the container, allowing CO2 to exit but ensuring nothing alien enters the drum. In our test batch with 3 litres, everything went smoothly until one morning we woke up to a mess of red juice, the wine deciding it was going to be a volcano at some point during the night. Thankfully we’d read all the warnings of this Merlot explosion and with the 25 litre drum, it’s sitting solidly in a large tray which will trap an overflow of enthusiasm. Maybe it shall prove to be the case adding Walnut shavings, along with Oak, will defuse the expected eruption. Who knows, the number of opinions on the internet is quite intimidating with the only ones taken seriously being from folk who’ve actually done it. We’ve learned to keep “experts” with no personal experience at arms length.
Quite neatly, this brings us back to Petro Matad as there will doubtless be loads of “experts” advising folk to buy shares in the Mongolian oil company, their line inevitably being “it will never be as cheap again”. Thankfully, the majority of folk who’ve bought shares learn fairly quickly the word “cheap” does not belong in any sentence dealing with a share price.
When we previously painted a Red line with a 3p break level, we didn’t give drop levels due to any sort of ultimate bottom being prefaced with an impossible minus sign. Our only conclusion was to warn of trouble, if the 3p level was indeed broken and in the months since, it has visited the 2p level. During the months since, we’ve been able to calculate some reasonable drop potentials – reasonable unless you already hold shares at a high price! However, weakness below 2p now calculates with the potential of a slip down to an eventual 1.7p and hopefully a rebound, given visual behaviour over the last few years. Should 1.7p break, an eventual visit to a bottom of 0.5p works out at possible.
Unfortunately, if the share price intends some recovery, above 3.2p should provide a useful trigger, calculating with the potential of a visit to 4.2p with our secondary, if beaten, at a visit to 5.5p, along with a need for us to revisit the tea leaves.
This share price has experienced a messy history since 2018, creating a risk 1.7p shall be viewed as a “floor”. Our inclination is not to take anything seriously unless it starts to go up.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:58:50PM | BRENT | 7170.9 | |||||||||
| 10:02:22PM | GOLD | 2597.9 | ‘cess | ||||||||
| 10:06:48PM | FTSE | 8038.5 | 8012 | 7967 | 7854 | 8052 | 8067 | 8090 | 8116 | 8039 | ‘cess |
| 10:11:13PM | STOX50 | 4745.5 | ‘cess | ||||||||
| 10:15:04PM | GERMANY | 19065.9 | Success | ||||||||
| 10:23:23PM | US500 | 5985.4 | Success | ||||||||
| 10:51:16PM | DOW | 43930.5 | ‘cess | ||||||||
| 11:05:26PM | NASDAQ | 21066.7 | 20948 | 20927 | 20825 | 21026 | 21146 | 21221 | 21312 | 21075 | |
| 11:08:05PM | JAPAN | 39194 | ‘cess |
12/11/2024 FTSE Closed at 8025 points. Change of -1.23%. Total value traded through LSE was: £ 6,035,103,629 a change of 29.75%
11/11/2024 FTSE Closed at 8125 points. Change of 0.66%. Total value traded through LSE was: £ 4,651,326,032 a change of -15.42%
8/11/2024 FTSE Closed at 8072 points. Change of -0.84%. Total value traded through LSE was: £ 5,499,106,289 a change of -11.31%
7/11/2024 FTSE Closed at 8140 points. Change of -0.32%. Total value traded through LSE was: £ 6,200,390,802 a change of -20.9%
6/11/2024 FTSE Closed at 8166 points. Change of -0.07%. Total value traded through LSE was: £ 7,838,528,249 a change of 73.08%
5/11/2024 FTSE Closed at 8172 points. Change of -0.15%. Total value traded through LSE was: £ 4,528,854,324 a change of 6.29%
4/11/2024 FTSE Closed at 8184 points. Change of 0.09%. Total value traded through LSE was: £ 4,260,964,543 a change of -16.92% 
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:BME B & M** **LSE:BP. BP PLC** **LSE:CCL Carnival** **LSE:IQE IQE** **LSE:SBRY Sainsbury** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:STAR Star Energy** **LSE:TLW Tullow** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : B & M, BP PLC, Carnival, IQE, Sainsbury, Scottish Mortgage Investment Trust, Star Energy, Tullow, Taylor Wimpey,
LSE:BME B & M Close Mid-Price: 380.6 Percentage Change: -0.68% Day High: 383.5 Day Low: 377.6
Weakness on B & M below 377.6 will invariably lead to 375p with secondary ……..
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View Previous B & M & Big Picture ***
LSE:BP. BP PLC Close Mid-Price: 367.3 Percentage Change: -1.53% Day High: 374.85 Day Low: 366.3
Target met. Continued weakness against BP. taking the price below 366.3 c ……..
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View Previous BP PLC & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 1715.5 Percentage Change: + 0.41% Day High: 1730 Day Low: 1686.5
Continued trades against CCL with a mid-price ABOVE 1730 should improve t ……..
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View Previous Carnival & Big Picture ***
LSE:IQE IQE Close Mid-Price: 10.4 Percentage Change: -8.77% Day High: 12.84 Day Low: 10.4
Target met. In the event IQE experiences weakness below 10.4 it calculate ……..
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View Previous IQE & Big Picture ***
LSE:SBRY Sainsbury Close Mid-Price: 241.8 Percentage Change: -0.66% Day High: 243.2 Day Low: 240.4
Target met. Weakness on Sainsbury below 240.4 will invariably lead to 238 ……..
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View Previous Sainsbury & Big Picture ***
LSE:SMT Scottish Mortgage Investment Trust Close Mid-Price: 926.2 Percentage Change: -0.11% Day High: 932.2 Day Low: 913.8
Target met. Further movement against Scottish Mortgage Investment Trust A ……..
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View Previous Scottish Mortgage Investment Trust & Big Picture ***
LSE:STAR Star Energy. Close Mid-Price: 9.01 Percentage Change: + 30.01% Day High: 9.74 Day Low: 6.94
Target met. Further movement against Star Energy ABOVE 9.74 should improv ……..
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View Previous Star Energy & Big Picture ***
LSE:TLW Tullow Close Mid-Price: 20.4 Percentage Change: -4.67% Day High: 21.5 Day Low: 20.3
Target met. Weakness on Tullow below 20.3 will invariably lead to 19.5p w ……..
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View Previous Tullow & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 134.3 Percentage Change: -2.36% Day High: 137.65 Day Low: 134
Continued weakness against TW. taking the price below 134p calculates as ……..
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View Previous Taylor Wimpey & Big Picture ***