The last six sessions of the #FTSE have been epically boring for us at Trends and Targets, giving a maximum range of 46 points. With all the “stuff” going on in the world, surely the UK market does not need try too hard to find an excuse to actually do something but despite the failure of the FTSE to become interesting, we’re curious about a couple of details which are otherwise unremarked.

Three sectors arouse our immediate interest, the Banking Sector, Major Miners, and Travel & Leisure. All three of these sectors are starting to take a real interest in life, using the time when the FTSE is otherwise asleep to display early signs of considerable hope for the months ahead. For instance, with the banking sector, we already see early suggestions of a justifiable 20% increase across share prices in the weeks ahead. And with the Miners, it’s pretty easy to extrapolate a 12% average rise across sector share prices. With Travel & Leisure we’re slightly less confident, the markets perhaps exercising caution with Covid-19 vaccines but in the event the sector index closes above 9,000 points, we anticipate an initial 15% surge in prices, perhaps over 30% if confidence floods back.

It’s obviously early days, especially as confidence has not yet leaked with sufficient force to nudge the FTSE but perhaps things shall reach a critical mass, moving with enhanced speed once the vaccine program rolls out in early March with under 50’s receiving ‘The Call’ to attend a clinic.

 

As for our popular FTSE for Friday, we’re inclined to some near term alarm, thanks to whatever scared the pants off America on Thursday. With the S&P down 2.5%, the Nasdaq down 3.6% and the Dow Jones experiencing a 1.8% drop, we suspect a bout of nerves shall leach across the Atlantic for Friday, provoking some reversals. At least, until the USA opens for business!

When the USA closed on Thursday, FTSE Futures were at 6588, substantially below the UK markets closing price of 6651 points. As a result, it’s probable the UK shall open solidly down on Friday morning and this presents some major problems.

In the event the FTSE opens below 6607 points, we suspect continued reversals to an initial 6577 points with secondary, if broken, at 6508 and hopefully a bounce.

 

The opposite scenario is quite strange as should the FTSE open above 6607, there’s a chance of some insane and unexpected recovery toward 6650 with secondary 6701 points. It can be safely assumed we don’t expect this as it nudges the UK into a region where we can again discuss the possibility of future movements to 7133 points and above.

 

Have a good weekend, for amusement keep an eye on Scottish Politics (They now have renamed ‘The Crown Office’ to ‘The Clown Office’) and importantly, Formula1 recommences in just 30 days.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:54:48PM	BRENT	66.1	65.59	64.825		66.45	66.57	67.025		65.64	‘cess
11:04:56PM	GOLD	1770.51	1768	1763		1783	1801	1809.5		1785	‘cess
11:07:02PM	FTSE	6601.5	6567	6550		6641	6653	6665.5		6599
11:11:33PM	FRANCE	5727	5714	5674		5767	5770	5793.5		5730	Success
11:14:44PM	GERMANY	13781	13731	13668.5		13851	13860	13913.5		13765	Success
11:17:35PM	US500	3830	3824	3813		3870	3874	3898.5		3834	Shambles
11:23:10PM	DOW	31420	31286	31088.5		31538	31699	31865		31480	Success
11:25:27PM	NASDAQ	12803	12765	12746.5		12915	13055	13151		12880	‘cess
11:27:54PM	JAPAN	29615	29538	29471		29680	29913	30032.5		29712	Shambles

25/02/2021 FTSE Closed at 6651 points. Change of -0.11%. Total value traded through LSE was: £ 6,358,793,501 a change of -9.6%

24/02/2021 FTSE Closed at 6658 points. Change of 0.5%. Total value traded through LSE was: £ 7,033,846,680 a change of -16.27%

23/02/2021 FTSE Closed at 6625 points. Change of 0.2%. Total value traded through LSE was: £ 8,400,811,010 a change of 24.64%

22/02/2021 FTSE Closed at 6612 points. Change of -0.18%. Total value traded through LSE was: £ 6,739,937,565 a change of 0.76%

19/02/2021 FTSE Closed at 6624 points. Change of 0.11%. Total value traded through LSE was: £ 6,689,261,003 a change of 15.24%

18/02/2021 FTSE Closed at 6617 points. Change of -1.39%. Total value traded through LSE was: £ 5,804,629,617 a change of -22.73%

17/02/2021 FTSE Closed at 6710 points. Change of -0.56%. Total value traded through LSE was: £ 7,511,824,336 a change of 35.06%

#SP500 #BrentCrude Interviewer Michael Parkinson is to blame for many things, one of them for making impossible to read ‘Barnsley’ without hearing his voice saying it in your head, his Yorkshire accent prolonging the “a”, longer than a soprano holding a low note. Braveheart, despite their pseudo Scottish name and company registration, are based in Yorkshire – probably to escape Scottish weather and hilarious politics. We’ve received more than our fair share of emails, asking an opinion regarding recent share price movements.

 

Presently trading around 100p, the recent lunge in the direction of 139p proved especially interesting, given the share exceeded any near term logical calculations. We’d an argument favouring 133p as a potential ceiling, a level at which any rise could be expected to hesitate. Despite the price failing to actually close a session above our 133p target, instead topping out at 128.5p, we’re curious as to its future. Since the price achieved 139p, reversals adhered pretty firmly to our conventional “stutters” logic and create a situation where we can relatively easily pencil in a trigger level which should be capable of provoking further gains.

Above 123.5p looks like the starting gate, ideally capable of promoting a gain toward 147p next. Despite this sounding pretty significant and exciting, there’s a more important detail with its roots back in 2007 when the listing launched. Above 147p and it becomes easy to speculate on continued growth to 172p, virtually matching the launch price before it all went wrong and the financial crisis gave the share an absolute kicking. In the future, closure above 172p will be defined as game changing with 227p becoming the next viable target level.

 

The share would require a retreat below 80p to suggest against painting your face blue and shouting “Freedom” in a Mel Gibson voice, thanks to the threat of reversal toward 34p…

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:48:31PM	BRENT	66.48	64	63.885	63.02	65	66.48	66.59	67.59	65.53	Success
10:50:46PM	GOLD	1805.36									‘cess
10:53:15PM	FTSE	6659									‘cess
10:58:45PM	FRANCE	5805									‘cess
11:01:20PM	GERMANY	14011									‘cess
11:06:46PM	US500	3925	3858	3850	3823	3901	3931	3945	3991	3898	Success
11:09:42PM	DOW	31974									Success
11:13:02PM	NASDAQ	13300									‘cess
11:15:10PM	JAPAN	30045									Shambles

24/02/2021 FTSE Closed at 6658 points. Change of 0.5%. Total value traded through LSE was: £ 7,033,846,680 a change of -16.27%

23/02/2021 FTSE Closed at 6625 points. Change of 0.2%. Total value traded through LSE was: £ 8,400,811,010 a change of 24.64%

22/02/2021 FTSE Closed at 6612 points. Change of -0.18%. Total value traded through LSE was: £ 6,739,937,565 a change of 0.76%

19/02/2021 FTSE Closed at 6624 points. Change of 0.11%. Total value traded through LSE was: £ 6,689,261,003 a change of 15.24%

18/02/2021 FTSE Closed at 6617 points. Change of -1.39%. Total value traded through LSE was: £ 5,804,629,617 a change of -22.73%

17/02/2021 FTSE Closed at 6710 points. Change of -0.56%. Total value traded through LSE was: £ 7,511,824,336 a change of 35.06%

16/02/2021 FTSE Closed at 6748 points. Change of -0.12%. Total value traded through LSE was: £ 5,561,960,634 a change of -0.72%

COIN:BTCUSD, ETHUSD, XRPGBP #CAC40 #Nikkei Despite UK regulator action on crypto currency trading, there appears plenty who still trade the products, using slightly offshore platforms. On Tues 23th Feb, with considerable horror, traders watched Bitcoin losing $13,000, Ethereum dumping $600 and XRP tossing 11p in the bin! Perhaps percentage terms shall prove more relatable, Bitcoin lost 22%, Ethereum lost 29% and Ripple lost 26%.

It is probably safe to say it was not the finest session for many traders. For legendary Bitcoin miners, it was a nasty cave in and we’re not certain the tragedy is over yet.

But then again, it might be!

With Bitcoin, the immediate cycle which led to $57,000US had been presenting the threat of reversal to $43,250 but when the price imploded, the value “only” shrunk to $44,888. Perhaps this is an implication of strength as our bottom number was not troubled. Using the same logic, Ethereum has presented the potential of $1300 but on the day, it bounced from $1367. Again, an implication of strength. Finally, XRP hit a low of 0.2950 rather than bother our calculation of 0.27250.

We’ve a (sometimes dodgy) logic which tells us to be cynical, if price drops fail to breach target on the day of the initial correction. Even though our target level may be broken in future days, we’re cautious advocating flat panic in the event prices bounce just above targets. In the case of each of the three crypto cons, we are loathe to suggest they present an immediate short opportunity.

 

Needless to say, we can give some potentials for the insanely brave.

With Bitcoin, below $43,000 now permits reversal to around £37k with secondary, if broken, at a bottom of $31k. The visuals even make sense. Alternately, we can present a scenario with a trigger level at $51k which calculates with the potential of $54.5 with secondary, if exceeded, $60k and yet another high.

For Ethereum, below $1300 carries the potential of a visit to $1150 and hopefully a bounce. If broken, our secondary is pretty vile at a bottom around $570. The other side of the coin, if we take a positive viewpoint, allows for strength above $1780 to now bring recovery to £1930 with secondary, if exceeded, at $2271, an all time high.

Finally, Ripple XRP. Weakness next below the 0.27 level shall prove troublesome, allowing an initial 0.22 with secondary, if broken, down at 0.14. We cannot calculate below such a level. On a happier note, it need only exceed 0.47 to suggest an initial ambition of 0.60 with secondary, if bettered, a significant 0.74.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:50:40PM	BRENT	64.25									Success
10:53:09PM	GOLD	1806.21
10:54:51PM	FTSE	6627.34									‘cess
10:57:09PM	FRANCE	5783	5718	5691.5	5657	5761	5788	5793.5	5816	5766	‘cess
10:59:11PM	GERMANY	13881.91									Success
11:05:05PM	US500	3879									Success
11:07:53PM	DOW	31539
11:10:57PM	NASDAQ	13181									Success
11:13:31PM	JAPAN	29997	29920	29788.5	29565	30100	30100	30155.5	30325	29918	Success

23/02/2021 FTSE Closed at 6625 points. Change of 0.2%. Total value traded through LSE was: £ 8,400,811,010 a change of 24.64%

22/02/2021 FTSE Closed at 6612 points. Change of -0.18%. Total value traded through LSE was: £ 6,739,937,565 a change of 0.76%

19/02/2021 FTSE Closed at 6624 points. Change of 0.11%. Total value traded through LSE was: £ 6,689,261,003 a change of 15.24%

18/02/2021 FTSE Closed at 6617 points. Change of -1.39%. Total value traded through LSE was: £ 5,804,629,617 a change of -22.73%

17/02/2021 FTSE Closed at 6710 points. Change of -0.56%. Total value traded through LSE was: £ 7,511,824,336 a change of 35.06%

16/02/2021 FTSE Closed at 6748 points. Change of -0.12%. Total value traded through LSE was: £ 5,561,960,634 a change of -0.72%

15/02/2021 FTSE Closed at 6756 points. Change of 2.53%. Total value traded through LSE was: £ 5,602,276,757 a change of 0.88%

#Gold #SP500 Following a year when we’ve all enjoyed & endured the experience of online shopping, Sainsbury came top in a Which Report for online service whereas Aldi topped the list in the ‘value for money’ category. Needless to say, Aldi also flopped around a bit with customers tending ridicule their shop layout. But their prices were good, if you could find the products! Sainsbury, a presence since 1869 appear to have embraced this new fangled online experience rather more successfully than rivals and we’d hope to see this success mirrored in their share price.

 

So far, unfortunately, this seems not to be the case. Trading around 226p at time of writing, there’s a pretty firm suspicion near term weakness below just 224p shall promote reversals to an initial 211p. We’d hope for a bounce should 211p make itself known but warn, should such a price level break, we’d then hope for a rebound before our secondary of 188p.

However, perhaps the accolade suggesting Sainsbury, after 152 years, actually know what they’re doing will provide an effect on price movements but realistically at present, we need the share price above 250p to suggest the possibility of movement to an initial 267p with secondary, if exceeded, calculating at a visibly sane 300p eventually. We use the term “visibly sane” due to the high prior to the 2019 drop showing itself as an excellent level to produce a glass ceiling eventually.

Jubilee Metals (LSE:JLP) Following the stock market crash of 2009, there was little doubt Jubilee Metals share price was enthusiastically talked up (ramped) by certain folk in internet chat rooms and as always with this sort of nonsense, the gains eventually vanished, the share price finding a floor at the 1p level. For the last 5 years, the price has enacted spasmodic twitches but now, it feels like something genuine may be happening. This year, the price has outperformed all near term logic and there’s a strong suggestion gains next above 17p should continue growth toward an amazing 24p.

If exceeded, our longer term secondary calculates at 32p and as with our thoughts on Sainsbury above, this presents the sort of level where some hesitation can be expected. Obviously, there’s going to be a bunch of folk trapped since the 32p level appeared ten years ago and a lot of them will Bail At Break Even, bringing selling pressure. Additionally, another bunch of folk will glance at the chart and see the prior highs, assuming a problem exists at such a price level.

We’re aware we’re speculating on the price doubling from current, so perhaps worth doing some research. It needs fall below 10p to give early warning of panic.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:33:56PM	BRENT	65.02									Success
10:36:08PM	GOLD	1810	1788	1782	1771	1803	1812	1819	1829	1792	‘cess
10:37:55PM	FTSE	6595.36									‘cess
10:40:40PM	FRANCE	5748									‘cess
10:43:06PM	GERMANY	13924									‘cess
10:52:24PM	US500	3879.32	3863	3858	3824	3883	3902	3906.5	3921	3891	Success
10:54:11PM	DOW	31561									Success
10:56:51PM	NASDAQ	13228									Success
10:59:06PM	JAPAN	29986									‘cess

22/02/2021 FTSE Closed at 6612 points. Change of -0.18%. Total value traded through LSE was: £ 6,739,937,565 a change of 0.76%

19/02/2021 FTSE Closed at 6624 points. Change of 0.11%. Total value traded through LSE was: £ 6,689,261,003 a change of 15.24%

18/02/2021 FTSE Closed at 6617 points. Change of -1.39%. Total value traded through LSE was: £ 5,804,629,617 a change of -22.73%

17/02/2021 FTSE Closed at 6710 points. Change of -0.56%. Total value traded through LSE was: £ 7,511,824,336 a change of 35.06%

16/02/2021 FTSE Closed at 6748 points. Change of -0.12%. Total value traded through LSE was: £ 5,561,960,634 a change of -0.72%

15/02/2021 FTSE Closed at 6756 points. Change of 2.53%. Total value traded through LSE was: £ 5,602,276,757 a change of 0.88%

12/02/2021 FTSE Closed at 6589 points. Change of 0.93%. Total value traded through LSE was: £ 5,553,303,054 a change of 2.03%

#BrentCrude #DAX TV’s Jeremy Clarkson keeps stealing my Sunday evenings! Our preference is analysing the markets but the exception to the rule used to be sacrosanct, watching Clarkson & “Top Gear” on Sunday evening, delaying prep-work for the following weeks trading. This year, the guy has been doing it again, presenting “Millionaire” and making it watchable again. Like most folk, arrogance ensures the cheap questions are ignored in favour of making a cuppa but tonight, the very first question stopped me in my tracks. It literally never occurred knowing the layers of a cake could be important, especially as someone who has never eaten one. A peculiar allergy ensures I cannot even be in the same room when baking is going on.

With spiteful joy she’s waited years for, the ‘other half’ watched my struggle with choices and logic, failing to give a correct answer before the contestant. As a result, I was mentally sent home without even £100…

 

It’s funny how the glaringly obvious can sometimes trip us all up. We mentioned in our last report, should Lloyds reach 26p, in our opinion it would provide an excellent point at which to catch a bounce. We also complained at the speed of movements and wondered if there was any chance of the price ever getting there. This now appears extremely unlikely, so for those holding their breath, we’d suggest (almost) forgetting the potential.

Lloyds share price has finally exceeded the Blue downtrend, still not bursting with optimism, but a severe drop looks rather less likely.

Instead, the share has once again tangled with our 38p trigger level, again forcing us to wonder is happier times are ahead.

The arguments are starting to pile up; fewer Covid mortalities, reduced infection rates, lots of speculation regarding easing Lockdowns, school return dates mentioned. Thus far, the added benefit of vaccines give a lot of hope for a return to something approaching normality. We wonder if ‘Vaccine Passports’ shall become the norm in the hospitality industry in the year ahead, despite the Government rejecting the idea?

 

For Lloyds, if we regard all this as “glaringly obvious”, an improvement in their share price (almost) must happen and visually above 40p now looks key. In such an event, price recovery toward an initial 45p is now expected with secondary, if exceeded, at 50p. We can calculate the potential of 55p as a third level target, suspecting this may prove an issue. Prior to everything hitting the Covid fan in February 2020, there was some sort of issue going on between 55 & 60p, making us strongly suspect a Big Picture glass ceiling awaits, should such a level make itself known.

If everything intends go cake shaped for Lloyds, the share price now needs close below 36p to justify panic.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:56:05PM	BRENT	62.17	61.55	61.16	60.44	62.98	63.32	63.725	64.45	62	‘cess
9:57:52PM	GOLD	1784.94
10:10:59PM	FTSE	6601
10:13:14PM	FRANCE	5764									‘cess
10:15:09PM	GERMANY	13945
10:16:51PM	US500	3901.27	3893	3881.5	3876	3922	3934	3949	3971	3904
10:19:28PM	DOW	31485									Shambles
10:21:58PM	NASDAQ	13578
10:24:42PM	JAPAN	30161

19/02/2021 FTSE Closed at 6624 points. Change of 0.11%. Total value traded through LSE was: £ 6,689,261,003 a change of 15.24%

18/02/2021 FTSE Closed at 6617 points. Change of -1.39%. Total value traded through LSE was: £ 5,804,629,617 a change of -22.73%

17/02/2021 FTSE Closed at 6710 points. Change of -0.56%. Total value traded through LSE was: £ 7,511,824,336 a change of 35.06%

16/02/2021 FTSE Closed at 6748 points. Change of -0.12%. Total value traded through LSE was: £ 5,561,960,634 a change of -0.72%

15/02/2021 FTSE Closed at 6756 points. Change of 2.53%. Total value traded through LSE was: £ 5,602,276,757 a change of 0.88%

12/02/2021 FTSE Closed at 6589 points. Change of 0.93%. Total value traded through LSE was: £ 5,553,303,054 a change of 2.03%

11/02/2021 FTSE Closed at 6528 points. Change of 0.06%. Total value traded through LSE was: £ 5,442,915,422 a change of -20.73%

It’s always a bit of a giggle, reading the reasons given across the media for a move by the #FTSE. For instance, Thursday was quite traumatic, the 130 point variance on the day blamed on; Oil Prices, US Jobless claims, Barclays profits, UK inflation, and the favourite laugh, “Snow in Texas”. Thankfully, the headline from The Evening Standard failed to make it into the text of the article where several hundred words cleverly concealed the writer didn’t really have a clue why the market was down.

This sort of thing occurs all the time as it’s often impossible to point to a specific thing and apportion blame. Unlike with Wireless Networks!

 

It’s maybe the case Wireless Networking is designed to only work in modern properties with thin walls made out of toilet paper tubes. With fibre broadband and the latest router, mobile phones and tablets appear to work fairly well but proper computers and laptops (in our building) are rubbish. A network signal will be fine for 2 or 3 hours, then suddenly all the numbers freeze on screen with multiple pop ups assuring an attempt is being made to reconnect. Invariably, only restarting the computer or notebook restored contact with the wireless router. As this issue occurs with multiple computers and multiple routers, it was time to call a halt.

Todays delivery parcels contained network cabling as the time has come to call a halt to Wireless. We’re about to revisit the 1990’s with every room fitted out with plug-in network points, while permitting mobiles to continue to access Wireless. Amusingly, texting a chum (he’s senior IT in a corporate) to tell of the change of mood, he admitted he’d made a similar decision in 2020, telling staff who were working from home to use old fashioned network cables, if possible, to link to their domestic Wireless routers. Video conferences became less hesitant, immediately.

This has obviously absolutely nothing to do with the FTSE reversal from 6,721 to a day low of 6591 but it’s easy to understand the level of frustration, when something goes wrong and you’ve no idea what to blame it on.

 

Closing Thursday at 6,608 points, the index need only slip below 6,590 to enter a further reversal cycle to an initial 6,562 with secondary, if broken, at a bottom (hopefully) of 6,494 points. At this stage, those terrified of mumbo jumbo should leave the room.

At the start of February, the FTSE effectively flatlined for 9 boring sessions (circled). The reasons for this, we suspect, was fear permeating from US Earnings season reporting a steady stream of rotten financial results for 2020. We’d been expecting this but we’d also been expecting the markets to crash. The invisible crash is being avoided, due to many companies announcing a return to dividends along with ambitious plans for 2021 to balance the hammering from Lockdown(s). Unfortunately, we have a ‘charty’ issue and it relates to the circled area on the chart.

With share prices, when we see this sort of circled Glass Floor form following a trend break, we tend anticipate some real reversals ahead. It’s rare we are disappointed with such expectations and it’s just a matter of patience usually. In this instance, we’re more than a little curious as to whether the FTSE 100 shall perform in similar fashion to share prices.

It this logic proves correct, we calculate below 6,494 looks capable of a cycle to 6,025 and hopefully “bottom”.

 

As always, there’s a slight ‘however’, thanks to the FTSE previously showing signs of strength. When the UK FTSE reached up to 6,800 the other day, any conventional logic demanded it enjoy a continued cycle to 7,010 points next with secondary, if bettered, calculating at 7,320 points. It begs the question, is the FTSE just mucking around while awaiting to see if Covid-19 vaccines promote a zombie plague?

Very near term, an early measure of market strength looks possible if the index betters 6,622 points as this is supposed to generate an initial 6,642 points. If exceeded, the first box of “strength” is ticked with secondary working out at 6,688 points, potentially even 6,763 presumably sometime next week and challenging again the level of the previous trend break.

Have a good weekend.  Only 37 days until the next Formula 1 race!

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:10:23PM	BRENT	63.01	62.62	62.105	subscribe	64.27	64.82	65.11		63.69	Shambles
10:12:59PM	GOLD	1776.13	1767	1761.5	for	1787	1790	1795.5		1777
10:24:49PM	FTSE	6623.92	6588	6581	more	6680	6707	6726		6642	Success
10:27:23PM	FRANCE	5742	5717	5698		5762	5779	5785.5		5740	Success
10:29:44PM	GERMANY	13922.32	13879	13844.5		13943	13975	14017.5		13910
10:39:20PM	US500	3914.02	3907	3899.25		3928	3939	3950.5		3917	‘cess
10:42:10PM	DOW	31510	31444	31294		31552	31622	31676.5		31430	Success
10:44:57PM	NASDAQ	13640	13472	13446		13625	13705	13757		13575	‘cess
10:47:25PM	JAPAN	30118	29870	29863		30100	30155	30237		29972	‘cess

18/02/2021 FTSE Closed at 6617 points. Change of -1.39%. Total value traded through LSE was: £ 5,804,629,617 a change of -22.73%

17/02/2021 FTSE Closed at 6710 points. Change of -0.56%. Total value traded through LSE was: £ 7,511,824,336 a change of 35.06%

16/02/2021 FTSE Closed at 6748 points. Change of -0.12%. Total value traded through LSE was: £ 5,561,960,634 a change of -0.72%

15/02/2021 FTSE Closed at 6756 points. Change of 2.53%. Total value traded through LSE was: £ 5,602,276,757 a change of 0.88%

12/02/2021 FTSE Closed at 6589 points. Change of 0.93%. Total value traded through LSE was: £ 5,553,303,054 a change of 2.03%

11/02/2021 FTSE Closed at 6528 points. Change of 0.06%. Total value traded through LSE was: £ 5,442,915,422 a change of -20.73%

10/02/2021 FTSE Closed at 6524 points. Change of -0.11%. Total value traded through LSE was: £ 6,866,229,755 a change of 17.93%

#Nasdaq #Japan

A flurry of emails, asking our opinion be updated, actually reminded us we’d reviewed this lot last year (link). Genedrive certainly experienced a confused 8 months, successfully hitting our drop targets, then bouncing and (so far) hitting our initial upward target. Sometimes, we think the tea leaves were stirred with too much vigour and the price needs another hard look.

 

Listed on the UK AIM market in 2007 and originally named Epistem, Genedrive, a medical testing and analytical company are certainly not “new kids on the block”, jumping on a Covid-19 bandwagon. Their activities appear truly international with a share price which once graced nearly 6 quid. It has also fallen as far as 8p, leaving a lot of room for movement in every direction. Even the last year has seen the price vary from 300p down to 38p while the company swims in the fast waters of pandemic speculation.

We’re starting to suspect an attempt is coming to break free from our growth target level of 150p. While our report last year suggested a secondary of 171p, we should now rework the numbers as there’s every chance the 171p level shall be ignored.

Gains now exceeding 164p now calculate with a potential of movement to an initial 197p with our longer term secondary, if bettered, working out at 232p. Unfortunately, this could easily become 261p, thanks to the circled gap from January this year confusing things a little. One problem we have with manipulation gaps is fairly obvious. If there are no numbers, how the heck can we analyse them!

The target level of 261p is fascinating, given the convergence with the Blue downtrend which dates back to 2013, certainly justifying a reason for a pause in any rising cycle.

 

For it all to risk going horribly wrong, the share price needs reverse below 126p to give the first indication of bad test results coming. Weakness such as this risks triggering reversal to 95p with secondary, if broken, at a bottom of 56p and hopefully yet another bounce.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:21:06PM	BRENT	64.28									Success
10:33:58PM	GOLD	1776.51									‘cess
10:35:58PM	FTSE	6719									‘cess
10:46:03PM	FRANCE	5781.7									‘cess
10:49:18PM	GERMANY	13950.89									Success
10:51:10PM	US500	3931									Success
10:53:21PM	DOW	31630									‘cess
10:55:49PM	NASDAQ	13707	13592	13526	13400	13693	13785	13870	13978	13685	Success
10:57:48PM	JAPAN	30354	30144	30089	29877	30344	30438	30532.5	30662	30301	Success

17/02/2021 FTSE Closed at 6710 points. Change of -0.56%. Total value traded through LSE was: £ 7,511,824,336 a change of 35.06%

16/02/2021 FTSE Closed at 6748 points. Change of -0.12%. Total value traded through LSE was: £ 5,561,960,634 a change of -0.72%

15/02/2021 FTSE Closed at 6756 points. Change of 2.53%. Total value traded through LSE was: £ 5,602,276,757 a change of 0.88%

12/02/2021 FTSE Closed at 6589 points. Change of 0.93%. Total value traded through LSE was: £ 5,553,303,054 a change of 2.03%

11/02/2021 FTSE Closed at 6528 points. Change of 0.06%. Total value traded through LSE was: £ 5,442,915,422 a change of -20.73%

10/02/2021 FTSE Closed at 6524 points. Change of -0.11%. Total value traded through LSE was: £ 6,866,229,755 a change of 17.93%

9/02/2021 FTSE Closed at 6531 points. Change of 0.12%. Total value traded through LSE was: £ 5,822,084,195 a change of 11.88%