Trends And Targets

#FTSE #DOW Over the years, Rare Earth magnets have proven so useful we even keep a supply of small Neodymium magnets in the house. These two centimetre long blocks (pictured), when held in place by duct tape or glue, stop the coffee stomper vibrating off the coffee machine. They hold the garden gate closed, provide easy dashboard mountings for mobile phones, ensure the fridge door stays closed. In the case of a recently purchased target rifle, it was a surprise to see the magazine snap precisely into place with a tiny Neodymium magnet.

It was inevitable the wider world would discover uses for these super strong devices, now billed as essential building blocks for clean future tech. Wind turbines, electric motors, electric vehicles, mobile phones, all find an excuse to use our favourite magnets, ones which can actually hurt when a careless finger gets trapped. They are useful but most emphatically not toys.

We received a few emails asking we update our fairly recent opinion (link) on Rainbow Rare Earths, presently trading around the 13p level. The mining company presently operate to major locations in both East and South Africa, extracting the essential elements used to produce permanent magnets now massively in demand for modern electrics. Recently, by reaching 14.75p, LSE:RBW managed trade higher than expected, suggesting some considerable strength may be present for longer term price gains.

This year, we’re opting to play safe with trigger levels, choosing a calculation criteria which can only demand price gains if a particular level is exceeded. In the case of Rainbow, rather than exceed its previous high of 14.75p, we can work out above 15.3p is liable to become a major trigger. Above this should prove capable of propelling the price toward an initial 18p with secondary, if exceeded, at a longer term 21.5p. To be fair, price closure above 18p is liable to prove game changing for the longer term as presently we can speculate on a distant 25p, a new all time high.

 

That’s about the end of the good news. Then again, maybe some folk shall regard the immediate possibilities as presenting an opportunity. Weakness continuing below 13.25p suggests the probability of travel down to an initial 12p, doubtless capable of a rebound given the presence of Red on the chart. Should 12p break, we hope our secondary calculation at 10.5p shall indeed be anointed with trampoline juice, creating a price level where a future surge upward may commence.

We never expected to have a secret bias due to a liking for posh fridge magnets!

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:49:46PM	BRENT	55.84
9:52:22PM	GOLD	1850.94
10:13:23PM	FTSE	6659	6620	6607	6576	6674	6700	6719.5	6757	6650
10:14:54PM	FRANCE	5544.2
10:16:52PM	GERMANY	13888									Success
10:18:40PM	US500	3852
10:20:51PM	DOW	30945	30882	30815	30715	30995	31120	31138	31331	30967
10:24:05PM	NASDAQ	13555									‘cess
10:27:08PM	JAPAN	28699									‘cess

26/01/2021 FTSE Closed at 6654 points. Change of 0.24%. Total value traded through LSE was: £ 5,878,949,067 a change of -1.5%

25/01/2021 FTSE Closed at 6638 points. Change of -0.85%. Total value traded through LSE was: £ 5,968,206,921 a change of 9.52%

22/01/2021 FTSE Closed at 6695 points. Change of -0.3%. Total value traded through LSE was: £ 5,449,476,112 a change of 6.46%

21/01/2021 FTSE Closed at 6715 points. Change of -0.37%. Total value traded through LSE was: £ 5,118,625,468 a change of -7.11%

20/01/2021 FTSE Closed at 6740 points. Change of 0.42%. Total value traded through LSE was: £ 5,510,172,095 a change of 11.11%

19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%

18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%

#Gold #SP500 Once a year in Scotland, there’s a very special evening when people gather in pubs, clubs, hotels, to toast the memory of Robert Burns. The poet was probably best known for his world famous hit single, ‘Old Lang Syne’, along with some truly miserable dirges which somehow become praiseworthy on Burns Night. They certainly justify the quantity of whisky usually consumed.

This year, everything inevitably changed.

Instead, our invitations were to attend ‘Virtual Burns Nights’, essentially a bunch of folk getting drunk and eating haggis while sitting at their computers, peering myopically at a camera. Leaving aside the haggis, this state of affairs doubtless defines most people on Twitter & Facebook after 10pm any night, without the inconvenience of brushing up on the writings of the famous man.

 

Wetherspoon share price is showing early signs of enthusiasm for a future when Lockdown ends and we can once again gather on dark winter nights to infect each other with cold & flu in pubs. Socialising properly is something, personally, I didn’t know I missed. But events of 2020 ensured we only risked visiting our local bar/restaurant twice and now, we opt to show support by purchasing takeaway food from the place, hoping they weather the financial mess the business must be in. When the current Lockdown ends and vaccinations are in place, it’s easy to suspect we personally shall tend make up for lost time. making a point of dropping in for Lunch/Dinner rather more often than used to be the case.

It’s easy to speculate Wetherspoon shall also experience a dizzy pace of recovery nationally, when (or if) normality ever rears its ugly head again. We’ve decided to emplace a recovery trigger at 1,280p as share price movement above such a level should prove capable of swift acceleration to an initial 1,533p. If exceeded, our longer term secondary is truly surprising, calculating at 1,901p and a new all time high. Despite the price looking fairly calm at 1,180 presently, the share really does not require much work to get things moving.

 

If things intend go horribly wrong, the share price needs drip below Red on the chart, presently 900p, to justify concern. Such a calamity allows weakness next to an initial 734p with secondary, if broken, at 405p.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:29:32PM	BRENT	55.74
9:31:05PM	GOLD	1855.7	1847	1840	1831	1861	1862	1871.5	1883	1847
9:33:18PM	FTSE	6678.62									‘cess
9:35:50PM	FRANCE	5501.7									Success
9:45:15PM	GERMANY	13727									Success
9:47:13PM	US500	3854.74	3821	3812	3796	3839	3860	3876	3903	3821	Success
9:49:42PM	DOW	30965									Success
9:52:15PM	NASDAQ	13470									‘cess
9:54:06PM	JAPAN	28814									‘cess

25/01/2021 FTSE Closed at 6638 points. Change of -0.85%. Total value traded through LSE was: £ 5,968,206,921 a change of 9.52%

22/01/2021 FTSE Closed at 6695 points. Change of -0.3%. Total value traded through LSE was: £ 5,449,476,112 a change of 6.46%

21/01/2021 FTSE Closed at 6715 points. Change of -0.37%. Total value traded through LSE was: £ 5,118,625,468 a change of -7.11%

20/01/2021 FTSE Closed at 6740 points. Change of 0.42%. Total value traded through LSE was: £ 5,510,172,095 a change of 11.11%

19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%

18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%

15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%

#Brent #Dax We previously reviewed Natwest on 4th January, explaining our thoughts on weakness to 152 and hopefully a bounce. The next day, it hit 152p and started a bounce, one which reached a fairly useless 169p. The important detail behind the scenario was “proof” sufficient numbers of people are still watching trend lines, believing them important.

We’ve experienced considerable doubts over the veracity of conventional crayon drawn trends as often, in these panic pandemic times, prices simply blast through visual trends as if they don’t exist. The reality with a popular share such as Natwest was clearly, if sufficient numbers of people believe a trend line to be real, the trend line will be real – at least for a while. Unfortunately for Natwest, this collective belief in trend lines lasted just 10 days and we suspect things are about to go a bit wrong for the share price.

Visually, with Natwest breaking the uptrend since September, the next tripwire remains at the previous 152p level. Coming movements below 152p risk triggering reversal down to an initial 143p and a doubtless short lived bounce. Again, our theory about sufficient numbers of people believing something should hold true. Achieving 143p will, more or less, match the share price low in December. We’d warning, if 143p is broken, especially on the initial surge down to such a level, our secondary longer term drop target calculates down at 126p and we think a real rebound can be expected, given the visual implications.

Earlier last year, when prices were being driven down due to building Covid-19 hysteria, a very vague Blue trend formed and our above drop target of 126p comes pretty close to matching the point of trend break. Again, it will depend on how many people employ Blue crayons but should 126p make a guest appearance, it shall provide an excellent visual point to take a Long position and just see where things go in the months ahead.

 

As always, we’re perhaps being too gloomy, especially as the writer got a Text Message from Scotlands Nicola Sturgeon the other day, promising a Covid-19 vaccination in a few days. Which was nice, doubtless supposed to bring cheer! Once the countries NHS gets hold of a mobile phone number, they are serious about keeping in touch with personal updates.

 

For Natwest to give hope for the future, the share price presently needs exceed 172p, allegedly capable of bringing recovery to an initial 182p with secondary, if bettered, at 192p. Visually neither ambition is earth shattering but does take the price into a region where it shall be regarded as achieving “higher highs” with the promise of good things for the future. Perhaps Nicola should send them a text message!

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:18:04PM	BRENT	55.01	54.4	54.105	53.3	55.48	55.92	56.23	56.84	54.86	Success
9:20:34PM	GOLD	1856.26									‘cess
9:30:17PM	FTSE	6689									Success
9:44:50PM	FRANCE	5557.7									Success
9:46:57PM	GERMANY	13869	13783	13749.5	13696	13911	13909	13934.5	14000	13848	Success
9:54:47PM	US500	3837.75									‘cess
9:57:10PM	DOW	30995.9									Success
10:02:29PM	NASDAQ	13365
10:05:00PM	JAPAN	28574									‘cess

 

22/01/2021 FTSE Closed at 6695 points. Change of -0.3%. Total value traded through LSE was: £ 5,449,476,112 a change of 6.46%

21/01/2021 FTSE Closed at 6715 points. Change of -0.37%. Total value traded through LSE was: £ 5,118,625,468 a change of -7.11%

20/01/2021 FTSE Closed at 6740 points. Change of 0.42%. Total value traded through LSE was: £ 5,510,172,095 a change of 11.11%

19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%

18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%

15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%

14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%

#FTSE #Gold We could start by saying the FTSE is heading toward 8,726 points, a world beating ambition placing the UK market is the same playground as Germany, Japan, and the USA. Unfortunately, just because we can calculate such a potential does not mean we shouldn’t even adhere to the reality of the situation. Unlike many other markets, the UK has failed to better its pre-Covid-19 levels, in fact not even coming close. When the UK PM is on TV, spouting “World Beating” empty slogans, real world Britain is performing quite dreadfully in every area which matters, perhaps aside from meaningless levels of propaganda.

It’s difficult to find a UK problem without quickly realising the core reason, lack of political will or competence! Even the 12 month late initiative at UK airports, demanding proof of a Covid test prior to allowing potentially plague ridden passengers entry, turns out to be remarkably inept.

“No test, that’ll be a 500 quid fine. Thank you. Enjoy your stay!”

 

To convince us the FTSE intends some proper recovery, the market needs trade above 7,290 currently. Given the index performance so far this year, we’re unable to see indications the UK intends head to this trigger level anytime soon. Quite the converse, if we’re honest as most trading days in 2021 are showing slow and painful declines in the FTSE 100, while other countries are having a party to which the UK isn’t invited.

Shall it be the case the FTSE sober approach to market gains in the face of Covid, Brexit, and Boris may prove the route of wisdom with other countries suddenly experiencing unexpected declines. In some ways, this isn’t as silly a suggestion as it first appeared, if only due to Wall St calculating with a good reason for hesitation around 31,200 points, the current level.

 

Near term, FTSE traffic below 6,688 looks like an issue, capable of triggering reversals to an initial 6,635 points. If broken, our secondary for the longer term (or later in the session!) works out at 6,564 points. The tightest stop, if triggered, is at 6,730 points.

The other side of the coin demands the index move above 6,763, a tripwire allegedly capable of provoking movement toward an initial 6,792 points. If exceeded, our secondary calculation comes in at 6,835 points and yet another challenge of the Blue downtrend on the chart.

 

Have a good weekend and remember, the bright side tells us there are only 65 days until the Formula One season returns in Bahrain.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:56:06PM	BRENT	56.16	55.38	55.04		56	56.15	56.395		55.5
11:05:18PM	GOLD	1870	1858	1849		1872	1875	1884		1858
11:06:50PM	FTSE	6732	6704	6683.5		6732	6772	6783.5		6742
11:08:45PM	FRANCE	5595.2	5573	5551		5618	5626	5640		5599	‘cess
11:11:08PM	GERMANY	13935	13876	13828.5		13950	14003	14029		13940	‘cess
11:14:03PM	US500	3854.12	3839	3831		3862	3865	3879.25		3843
11:18:56PM	DOW	31147	31118	31094		31211	31274	31314		31160	‘cess
11:21:45PM	JAPAN	28623	28493	28407		28678	28700	28762		28550	‘cess

 

21/01/2021 FTSE Closed at 6715 points. Change of -0.37%. Total value traded through LSE was: £ 5,118,625,468 a change of -7.11%

20/01/2021 FTSE Closed at 6740 points. Change of 0.42%. Total value traded through LSE was: £ 5,510,172,095 a change of 11.11%

19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%

18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%

15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%

14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%

13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%

#DAX #NASDAQ It was a bit of a shock to realise we last covered #Tesco in 2019 with the share price doing very little since. Finally, it’s showing early potentials of change as the share has been malingering since 2015, a flurry of emails suggesting other folk have noticed something potentially important. It’s certainly surprising against the backdrop of the UK’s doom and gloom. Then again, essential retail generally does pretty well, when the price of goods is no longer the driving imperative and in todays Britain, delays in food imports, along with the need to avoid dying certainly nudge ahead of a bargain in the Creme Eggs department!

The share has a pretty vivid downtrend since 2012, the price effectively flatlining since 2017 but now, the price has finally exceeded this potentially important downtrend. Obviously, this gives no certainty of imminent increase, just places the share in a region where positive news can enjoy positive price movements, unhindered by a trend line many investors shall feel important. We’ve shown the somewhat hesitant break through the trend on the chart inset, price movements since the start of the year indicating the wider market is also perfectly aware of this downtrend.

Our inclination is now to play safe, rather than trumpet the potential of amazing rises ahead. Instead, we’ve established 260p as a viable trigger level with movement above this point calculating with the potential of an initial 295p with secondary, if exceeded, working out at a longer term 319p.

 

In keeping with “playing safe” when looking at recovery potentials, we’ve opted similar methodology for examining trigger levels for reversals. Tesco share price needs trade below 189p to give sufficient excuse for panic. This sort of thing risks proving quite traumatic, giving an initial 164p with secondary, if broken, at a bottom of 144p.

Oddly, this isn’t ‘as bad’ as Tesco could get. For light relief, we calculated where our “ultimate bottom” resides, the number below which we cannot calculate. It works out at 77p, almost the price of two Creme Eggs*** from Tesco. But Sainsbury are selling them for just 35p. We suspect, if we ever witnessed Tesco share price at such a level, we’d feel safer buying the chocolate treat instead!

 

***Useless info: the writer has literally never eaten a Creme Egg.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:49:32PM	BRENT	55.85									‘cess
10:52:08PM	GOLD	1872.04									Success
10:54:29PM	FTSE	6753
10:58:49PM	FRANCE	5643
11:00:43PM	GERMANY	13949	13804	13762.5	13694	13892	13969	14019	14094	13875
11:02:39PM	US500	3850									Success
11:07:29PM	DOW	31189									‘cess
11:10:01PM	NASDAQ	13316	13124	13078.5	12992	13255	13335	13359	13390	13217
11:12:06PM	JAPAN	28695									Success

20/01/2021 FTSE Closed at 6740 points. Change of 0.42%. Total value traded through LSE was: £ 5,510,172,095 a change of 11.11%

19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%

18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%

15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%

14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%

13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%

12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%

#SP500 #FTSE At the tail end of last year, we cheerfully warned of impending damage to the FTSE 100, if our fears of a rash of profit warnings come to fruition. #Babcock International stepped up to the crease last week, a profit warning giving a rather predictable 20% dive in the share price. It shouldn’t take a brain the size of a planet to figure out where the UK index shall head, if a rash of companies start issuing negative news at the same time. Thankfully, perhaps even amazingly, if behaviour of US banks (so far) this Earnings Season proves an accurate guide, we may face the unlikely situation of the UK banking sector proving strong against the background of a foul market.

 

The immediate situation for Babcock share price is far from encouraging. Last Fridays grotty news has now propelled the share price below an uptrend since 2004 with the immediate situation looking as bleak as UK mortality rates. To be blunt, in the case of Babcock, it almost feels like the share price intends return to levels of stability last enjoyed a painfully long time ago. Continued travel below 195p threatens to provoke a cycle down to an initial 132p with secondary, if broken, at a longer term 55p.

Usually with the sort of thing, we provide a caveat, suggesting nothing threatens this at present. This would be untrue in the case of Babcock International, their share price looking as watertight as one of Britain’s new aircraft carriers, an unfortunate situation for such a major defence contractor.

 

Thankfully, there’s a pretty well defined path for shares to escape such a miserable doom. Firstly, we need the share price to close a session above Red on the chart, signalling the market is aware of the risks and intends correct the damage. Currently, this demands the share price close a session above 206p with such a scenario presenting the first suggestion is was all a dreadful mistake.

Secondly, the share shall need broadcast some sort of signal “bottom is in”. In this instance, we’ll raise an eyebrow should it start trading intraday above 237p. This is liable to prove a good thing, allowing for initial recovery toward 260p. If bettered, things become a little vague but 342p calculates as possible. In reality, we shall prefer taking a further look at the tea leaves, if 260p makes an appearance.

 

For now, Babcock is pretty messy and hopefully able to receive faster repairs than the UK’s ‘world beating’ leaky boats.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:59:50PM	BRENT	55.87									Success
10:14:38PM	GOLD	1840.4
10:16:59PM	FTSE	6733.04	6694	6651	6622	6744	6770	6793	6834	6722	Shambles
10:18:56PM	FRANCE	5611									‘cess
10:22:24PM	GERMANY	13856									‘cess
10:24:12PM	US500	3800.47	3779	3747.5	3720	3805	3806	3812.5	3834	3779	Success
10:26:33PM	DOW	30939									Success
10:29:11PM	NASDAQ	13033									Success
10:30:55PM	JAPAN	28732									Success

19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%

18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%

15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%

14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%

13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%

12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%

11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%

#Gold #WallSt We’ve received a pile of emails regarding this share price, some from folk dazzled by the confluence of “Blockchain”, “Cryptocurrency”, “Mining” on the company website. We’re surprised they didn’t go the full hog and mention “Covid-19”, “DNA”, and perhaps “Alien Technology”. As usual, there’s a painful lack of concise explanation for just what “Blockchain” actually is, other than a buzz word capable of causing excitement.

 

Put simply, Blockchain is simply a way of transferring something from my computer to your computer but in a way which allows anonymity. The once popular website, “Pirate Bay”, facilitated a similar task with Movies, Music, Software, and Games. “Pirate Bay” stored nothing, other than a list of computer codes which led to the required data. Any computer would do, as long as it was connected to the internet. A user wanting the latest ‘Spice Girls’ release could browse Pirate Bay, then use Peer to Peer software to download whatever they were wise enough not to spend money on. The music (or whatever) would wing its way from the computer hosting the track to your own computer. It was anonymous with the network equally allowing other users to download anything permitted from your PC. The world DID NOT have access to your computer, only whatever folder or files you deemed as available.

Unfortunately, Internet Providers eventually got wise to this traffic and are easily able to spot “Torrent Downloads” on their network. As a result, it is apparently fashionable to issue a ‘3 Strikes and You’re Out’ warning to transgressors rather than threatening legal action. Needless to say, technology jumped ahead anyway with the result Pirate Bay is doubtless as popular as ever, users employing encryption with extremely simply VPN (Virtual Private Network) software. In this way, authorities cannot scan traffic to private computers and the internet can continue as normal. VPN software not only conceals traffic to and from private computers, it also obscures their address on the internet while allowing Peer to Peer traffic to continue unabated.

Obviously, if you are in the business of doing anything illegal, this methodology is ideal when trying to avoid scrutiny. We remain as cynical as ever, when viewing unregulated cryptocurrency along with the current buzzword, “Blockchain”.

 

We think we understand the reason for the quantity of emails over the last couple of sessions. Argo Blockchain share price is currently looking more nervous than a UK Govt Minister when someone mentions Covid and Death Rates. Presently trading around 90p, the share price need only slip below 85p to exhibit the potential of a reversal cycle to an initial 73p. If broken, our secondary calculation gives 48p as a potential bottom. We’d advocate extreme caution should 48p break as our ultimate bottom works out at 3p, turning recent Argo price movements into a spectacular ‘pump & dump’ exercise.

However, the share price doesn’t require a great effort to inject hope for the future. Above 97p calculates with an initial ambition of 107p with secondary, if exceeded, a longer term (or sometime in the next few minutes) 126p. Above 126p, things get quite interesting as we can present 149p as a future ambition, if things go nuts.

For now it’s time for another buzzword; “Fingers Crossed Time!”. From the point at which Argo closed Monday 18th, we fear reversal toward 48p lies ahead.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:59:38PM	BRENT	54.8									‘cess
11:01:48PM	GOLD	1838.02	1826	1821.5	1815	1839	1841	1850	1866	1829
11:03:45PM	FTSE	6732
11:23:22PM	FRANCE	5632									Shambles
11:25:34PM	GERMANY	13879
11:27:16PM	US500	3777.52
11:28:48PM	DOW	30871	30730	30705	30648	30829	30872	30919	30982	30801
11:31:04PM	NASDAQ	12830
11:33:45PM	JAPAN	28357

 

18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%

15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%

14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%

13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%

12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%

11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%

8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%