A share carrying the FTSE EPIC CRW immediately reminded us of our regular garden visitor, a crow (or perhaps a raven) we’ve whimsically named Cheryl. As the photograph below shows, Cheryl is easy to recognise thanks to her distinctive white “bra”, which becomes especially noticeable each summer. A birdwatching friend has suggested there may even be a little magpie in her DNA, as the two species are occasionally known to become rather friendly.
We never need much of an excuse to wander away from the often tedious business of stock market movements. Unfortunately, LSE has itself wandered into more worrying territory, with the risk of a flight towards trouble rather than success. We’ve received several emails asking for our thoughts on Craneware Plc (CRW.L), the leading provider of hospital revenue integrity and billing software to the US healthcare sector.
LSE: Craneware
Craneware’s share price chart has taken on a distinctly concerning appearance. At the beginning of July, the price gapped below its long-term uptrend following what was, in effect, a profit warning. Markets rarely react kindly to such events, and Craneware was no exception, with the shares falling around 18% in a single move.
Having broken decisively beneath the long-term trend, we must now accept the possibility of further weakness. A move below 1,000p would strengthen the bearish case, with our initial downside target calculated at 822p. Beyond that, our longer-term secondary objectives lie at 413p and 374p, should selling pressure intensify.
The gap below trend has created an uncomfortable technical picture, making longer-term projections less certain. While a decline towards 822p appears entirely achievable, it does not currently feel especially likely that the lower secondary targets will come into play. Instead, the chart suggests the shares may eventually establish a base somewhere around the 700p level, assuming broader market conditions remain reasonably stable and investors are spared any major economic surprises.
The bullish case now depends on Craneware producing a convincing recovery. Ideally, we would like to see the shares GAP back above the Red trend line, signalling that buyers have regained control.
Should that occur, a move above 1,482p would place the shares into a constructive technical position. Our initial upside objective would then become 1,806p, with a longer-term secondary target calculated at 2,127p.
For now, however, that remains a scenario to hope for rather than expect, simply due to the market opting to gap the price below the trend..
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:38:38PM | BRENT | 8515.4 | 8490 | 8377 | 8174 | 8736 | 8747 | 8834 | 8962 | 8639 | Success |
| 11:41:10PM | GOLD | 4074.28 | 4049 | 4020 | 3988 | 4094 | 4116 | 4128 | 4163 | 4088 | |
| 11:44:05PM | FTSE | 10789.9 | 10714 | 10668 | 10612 | 10797 | 10803 | 10831 | 10916 | 10761 | Success |
| 11:11:22PM | STOX50 | 6307.2 | 6281 | 6245 | 6204 | 6312 | 6318 | 6332 | 6349 | 6295 | |
| 11:15:12PM | GERMANY | 25449.6 | 25176 | 25005 | 24820 | 25301 | 25489 | 25529 | 25587 | 25448 | Success |
| 11:20:08PM | US500 | 7408.7 | 7381 | 7356 | 7312 | 7404 | 7427 | 7441 | 7461 | 7407 | |
| 11:25:20PM | DOW | 52208.9 | 51987 | 51932 | 51708 | 52123 | 52268 | 52368 | 52495 | 52154 | ‘cess |
| 11:29:22PM | NASDAQ | 27995.8 | 27789 | 27155 | 25991 | 28126 | 28103 | 28129 | 28242 | 27980 | ‘cess |
| 11:32:18PM | JAPAN | 63853 | 63315 | 62548 | 60867 | 63680 | 64060 | 64326 | 64667 | 63863 | ‘cess |
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:ASC Asos** **LSE:AV. Aviva** **LSE:BARC Barclays** **LSE:BME B & M** **LSE:HSBA HSBC** **LSE:ITRK Intertek** **LSE:PHP Primary Health** **LSE:SPX Spirax** **LSE:STAN Standard Chartered** **LSE:STAR Star Energy** **
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Updated charts published on : Asos, Barclays, B & M, HSBC, Intertek, Primary Health, Spirax, Standard Chartered, Star Energy,
LSE:ASC Asos. Close Mid-Price: 371.5 Percentage Change: + 0.00% Day High: 380 Day Low: 347.5
Target met. The next task for Asos is to get the price above 380p (not wi ……..
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View Previous Asos & Big Picture ***
LSE:AV. Aviva. Close Mid-Price: 687.6 Percentage Change: + 0.00% Day High: 698.8 Day Low: 687.6
Further movement against Aviva ABOVE 698.8 should improve acceleration to ……..
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View Previous Aviva & Big Picture ***
LSE:BARC Barclays. Close Mid-Price: 530.4 Percentage Change: + 0.00% Day High: 538.3 Day Low: 528.9
Target met. Simply managing to get the share price above 538.3 is the nex ……..
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View Previous Barclays & Big Picture ***
LSE:BME B & M. Close Mid-Price: 219 Percentage Change: + 0.00% Day High: 223 Day Low: 214.2
Target met. Simply managing to get the share price above 223p is the next ……..
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View Previous B & M & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 1551 Percentage Change: + 0.00% Day High: 1568 Day Low: 1548.6
Target met. In the event of HSBA share price managing to exceed 1568p (pl ……..
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View Previous HSBC & Big Picture ***
LSE:ITRK Intertek. Close Mid-Price: 5835 Percentage Change: + 0.00% Day High: 5845 Day Low: 5820
In the event of Intertek enjoying further trades beyond 5845, the share s ……..
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View Previous Intertek & Big Picture ***
LSE:PHP Primary Health. Close Mid-Price: 95.85 Percentage Change: + 0.00% Day High: 96.3 Day Low: 94.75
The next task for Primary Health is to get the price above 96.3p (not wit ……..
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View Previous Primary Health & Big Picture ***
LSE:SPX Spirax. Close Mid-Price: 6985 Percentage Change: + 0.00% Day High: 7225 Day Low: 6985
Target met. Simply managing to get the share price above 7225p is the nex ……..
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View Previous Spirax & Big Picture ***
LSE:STAN Standard Chartered. Close Mid-Price: 2136 Percentage Change: + 0.00% Day High: 2174 Day Low: 2133
Continued trades against STAN with a mid-price ABOVE 2174 should improve ……..
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View Previous Standard Chartered & Big Picture ***
LSE:STAR Star Energy. Close Mid-Price: 23 Percentage Change: + 0.00% Day High: 24 Day Low: 21
Target met. Simply managing to get the share price above 24p is the next ……..
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View Previous Star Energy & Big Picture ***