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%

#FTSE #FRANCE Everything is now well in the world. Glencore, reinstating their dividend despite a $1.9bn loss, now enjoy a share price where we find it easy to calculate the price more than doubling in the longer term. Obviously, there are one or two minor hurdles to consider first but we suspect, thanks to the March 2020 Covid-19 drop, the stock markets are going to find many shares in a similar position. Essentially, once the strength of downward volatility is reversed, any bounce is liable to be flamboyant.

To illustrate, imagine dropping a ball and finding it bounces higher than the level it dropped from. Physics says this is impossible, assuming no additional energy is given to the ball but as traders know, share prices rarely follow the rules of physics. Or even common sense! But from a visual perspective, record losses are being ignored by the market and instead, the prospect of a dividend now makes Glencore an exciting share for the future.

 

To dwell on the chart, the immediate scenario suggests movement above 295p should next impart sufficient bounce for the share price to reach 408p. Visually, the 4 quid level makes a lot of sense and without a doubt, a glass ceiling since 2013 awaits at such a point. There’s also the problem of the downtrend since 2011, presently enacting a barrier around the 357p level. Amazingly, this is also extremely capable of matching the Feb 2020 Pre-Covid high level of 345p, giving two distinct excuses for some hesitation on the way up. Undoubtedly, there will be those trapped at the 345p level, potentially since 2018. Bailing at Break Even (BABE) is a very real event, one perfectly capable of provoking price hesitation. The Blue downtrend since 2011 is another and should both events occur at the same time, an assumption will grow of the downtrend being a “real” barrier to price growth.

Who knows, it make even be right!

 

We suspect this shall not prove to be the case, instead tending to speculate the 408p level is liable to provide sufficient long term excuse for hesitation. Goodness knows how long the scenario will take to unfold but from a Big Picture perspective, it makes perfect sense.

Only with closure above 408p shall we dare become breathless with anticipation, thanks to the Big Picture indicating an all time high of 731p becomes possible.

At time of writing, this FTSE 100 component is trading at 288p. The price needs below 210p to spoil our optimism.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:11:20PM	BRENT	63.14
10:13:01PM	GOLD	1794.68									Success
10:16:34PM	FTSE	6748.77	6731	6706.5	6676	6774	6799	6813	6862	6733
10:18:10PM	FRANCE	5784.5	5766	5760.5	5748	5794	5798	5808	5822	5776
10:20:58PM	GERMANY	14054.26									‘cess
10:38:27PM	US500	3932									Success
10:40:48PM	DOW	31545									‘cess
10:42:20PM	NASDAQ	13761
10:44:08PM	JAPAN	30439									Success

 

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%

8/02/2021 FTSE Closed at 6523 points. Change of 0.43%. Total value traded through LSE was: £ 5,203,801,333 a change of -25.46%

We reviewed this pairing at the start of January, expressing some optimism for Sterling against the US Dollar. To our surprise, GBPUSD and the FTSE both opted to start this week outperforming themselves and as always, the blame was laid on Covid-19. The thinking, apparently, is fairly simple. The more people vaccinated, the faster economic recovery should be as Lockdown restrictions are eased. Airline stocks will fly again, cruise lines will float off into the sunset, oil prices will bubble up, and the hospitality trade shall re-open.

The big question, one which shall consume the media, remains unanswered, ‘Will our vaccination passports sport blue or red covers?’ Maybe the public shall be required to exhibit a tattoo on  their forehead…

 

An important detail, or perhaps an admission of guilt, comes from the UK’s economic performance and the countries near 10% fall in GDP in 2020, the worst performance amongst the G7 group of wealthy nations. Despite this, Sterling is getting strong and the FTSE is starting to show early signs of proper recovery. We’d been expecting a crash but repeated profit warnings are “only” generating falls in share price around 6% rather than the traditional 20+%. Our thinking had supported a tsunami of share price drops forcing the FTSE into sharp reversal. This has not happened (so far), due to an outpouring of optimism due to vaccines administered and infection numbers falling. From reading international media, one could almost be convinced we’re at the onset of strong bull market conditions!

 

Will the FTSE head for 6,900+ and will GBPUSD demolish 1.5490? We’ll deal with the FTSE later this week but there remains some excuse for optimism with the currency pairing.

Presently trading around 1.390, the relationship needs exceed 1.392 to suggest near term traffic toward 1.406. We anticipate some stutters around such a level, if only due to the relatively huge jump possible to our secondary calculation. Longer term, above 1.406 works out with a target level of 1.4760, matching the high before the Brexit vote trashed the value of Sterling. Experience tends to highlight when a modest initial target appears, it’s almost as if the markets demand some volatility before discovering sufficient strength to reach a more distant secondary target.

For it all to go wrong for Sterling, the relationship needs founder below 1.320 to justify early concern.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:24:00PM	BRENT	62.97
10:26:12PM	GOLD	1819.14	1816	1808.5	1801	1824	1827	1829.5	1834	1816
10:29:58PM	FTSE	6765.08									Success
10:32:13PM	FRANCE	5786									Success
10:34:08PM	GERMANY	14120.11									‘cess
10:36:58PM	US500	3953.95
10:39:00PM	DOW	31653	31521	31491.5	31427	31609	31685	31701.5	31860	31590	Success
10:39:33PM	NASDAQ	Asleep	for	President	Day
10:43:35PM	JAPAN	30235									Success

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%

8/02/2021 FTSE Closed at 6523 points. Change of 0.43%. Total value traded through LSE was: £ 5,203,801,333 a change of -25.46%

5/02/2021 FTSE Closed at 6495 points. Change of -0.12%. Total value traded through LSE was: £ 6,981,544,293 a change of 30.51%

#BrentCrude #Dax With the trauma of yet another forgotten St Valentines Day upon us, we were fascinated to review #Moonpig share price in the hope of being able to say something intelligent for their future. After 9 trading days following their launch, we believe, quite firmly, investors will get more of a clue as to future movements from reading the pithy contents of greetings cards rather than from anything we say. We need a trading history to carry out analysis.

NatWest (LSE:NWG) Unfortunately, with Natwest, we’re feeling similarly ineffective, though suspect it’s our old enemy, time, which is to blame. When we reviewed NWG a few weeks ago, we presented a scenario where the price needed better 172p to suggest some gains were coming. In four of the last five sessions, Natwest has successfully closed above our trigger level, so we can confirm a belief some gains are expected. Something quite peculiar is making itself known, a normally solid series of criteria all demanding the share price intends head to 191p as the next major point of interest. The actual target level varies by a penny or so, either above or below.

What really surprises is our long term secondary above 191p, calculating at 250p and presenting a visually sensible ambition. To be fair, traders would require being challenged in the optical department and advised to visit Barnard Castle, if choosing to ignore the Glass Ceiling In Waiting at such a level.

Natwest share price requires to close a session below 163p to cancel this optimism, easing open the door for some dangers. Below 163p computers with the potential of reversal to an initial 155p with secondary, when broken, at 148p and a very probable bounce.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
11:54:48AM	BRENT	62.42	60.1	59.245	58.14	61.08	62.55	66.93	68.55	60.16	Success
11:56:59AM	GOLD	1825.34									‘cess
1:29:57PM	FTSE	6617.78									Success
1:33:33PM	FRANCE	5715.5									Success
2:34:44PM	GERMANY	14086	13897	13822.5	13734	14003	14088	14112	14179	13975
2:36:52PM	US500	3939.52									‘cess
2:39:14PM	DOW	31487
2:41:11PM	NASDAQ	13826									‘cess
2:51:42PM	JAPAN	29631									Success

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%

8/02/2021 FTSE Closed at 6523 points. Change of 0.43%. Total value traded through LSE was: £ 5,203,801,333 a change of -25.46%

5/02/2021 FTSE Closed at 6495 points. Change of -0.12%. Total value traded through LSE was: £ 6,981,544,293 a change of 30.51%

4/02/2021 FTSE Closed at 6503 points. Change of -0.06%. Total value traded through LSE was: £ 5,349,556,442 a change of 1.88%

FTSE FRIDAY #FTSE #GOLD

It’s time to talk about ‘our friend, the horizontal trend’. Few folk will be unaware of the dangers of sleeping on the job, something the FTSE has managed to accomplish pretty convincingly since the start of February. Essentially, the UK index has trapped itself within a (roughly) 100 point range, creating something we’re fond of calling a Horizontal Trend around the 6,500 point level.

Usually, when this sort of nonsense occurs following a market high, such as the spike on January 7th, it’s just a matter of patience while awaiting the market lemmings to rush over a cliff. In the case of the FTSE, we’d normally be privately confident the index intends shed around 500 points, eventually reversing down to the 6,000 point level, perhaps even 5,627 points if things get really serious. Visually, certainly there’s a strong argument favouring a rebound at the 5,600 level.

 

In the wider world, something else is happening. Both Germany and the US quite cheerfully created “Horizontal Trends” this year, the DOW JONES once residing at 31,000 points and the DAX finding favour with around 14,000 points. The absolutely critical difference with these markets is the “Horizontal Trend” line created generally can be thought of as a glass ceiling, a level we anticipate breaking when an upward rush occurs. For instance, once the DOW breaks free of its ceiling, an uninhibited rise to 32,000 points is expected. For Germany, we are looking for a 500+ point rise.

Alert readers, not yet asleep due to the onslaught of numbers above, will notice the conflict. The FTSE essentially wants to drop, the rest of the world wants to go up!

 

As for Friday and the FTSE, we’re understandably nervous expressing any optimism. The UK index needs exceed 6,585 points to suggest the potential of some serious gains. Such a movement will suggest the market attempting to jump clear of the thin ice upon which it currently stands, calculating with an initial hope of 6,634 points with secondary, if exceeded, a more inspiring 6,749 points. Perhaps positive news is needed.

This writer received the Astrazeneca jag today, developing no side effects (it was a doddle), and with 12 hours gone since the vaccine was given, I’ve not caught Covid-19! Perhaps the markets need better news than a story about a wee, fat, hairy, Scottish bloke…

Closing the session at 6,528 on Thursday, London needs slither below 6,497 points to indicate trouble. This risks triggering reversal to an initial 6,463 points with secondary, if broken, at 6,322 points.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:45:56PM	BRENT	60.73	60.52	60.335		61.3	61.4	61.765		60.52
10:48:00PM	GOLD	1825.94	1820	1815.5		1828	1835	1836.5		1825	‘cess
10:49:26PM	FTSE	6525	6504	6487		6541	6556	6565		6513
10:52:53PM	FRANCE	5670	5654	5637.5		5672	5687	5695.5		5658
10:54:54PM	GERMANY	14013	13913	13844		13973	14051	14138.5		13975
10:56:34PM	US500	3909	3888	3880		3916	3925	3937		3895
11:03:25PM	DOW	31409	31377	31249.5		31451	31515	31553		31420	Shambles
11:05:21PM	NASDAQ	13712	13628	13600.5		13702	13750	13790		13687
11:13:26PM	JAPAN	29484	29302	29251		29395	29497	29529		29302	‘cess

 

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%

8/02/2021 FTSE Closed at 6523 points. Change of 0.43%. Total value traded through LSE was: £ 5,203,801,333 a change of -25.46%

5/02/2021 FTSE Closed at 6495 points. Change of -0.12%. Total value traded through LSE was: £ 6,981,544,293 a change of 30.51%

4/02/2021 FTSE Closed at 6503 points. Change of -0.06%. Total value traded through LSE was: £ 5,349,556,442 a change of 1.88%

3/02/2021 FTSE Closed at 6507 points. Change of -0.14%. Total value traded through LSE was: £ 5,250,745,013 a change of -4.46%

#DAX #SP500 Unusually, we must admit to an interest with Astrazeneca (AZN). In the middle of January, a nice text from Nicola Sturgeon advised the jag was coming mid-Feb. Last week, the local GP called, telling me to attend tomorrow morning at 9.10am. As a result, if the vaccine doesn’t work, an axe will be ground. And if it does work, there will always be the suspicion I wouldn’t have caught Covid (again) anyway!

While being guilty of returning to this subject matter, as someone with a trashed immune system, the concept of being out and about while feeling “safer” will be quite exciting but with only one drawback. Apparently there’s a chance our grandchildren will visit again…

 

Astrazeneca share price is actually on the edge of trouble, closing 10th Feb at 7,247p. This, we feel, dangerous thanks to prior closing prices at the end of 2020 at 7,223p, especially as the difference between the two numbers is negligible. Despite the final nail remaining unhammered, we’re inclined to warn movement next below 7,223p risks reversal toward an initial 6,776 with secondary, if (when) broken at a bottom of 6,269 and hopefully a proper bounce.

The historic chart highlights something important. While the flourish above 10 quid last year illustrated a FTSE 100 component could perform with similar breathless abandon to an AIM share, the reality shows AZN has been steady, reliable, climbs since the low of the 2009 Financial Crisis. In spite of their Covid-19 vaccine, share price growth has proven strong over the years and we’re curious whether any reversal shall indeed “just” bonk the Red trend, resuming recovery thereafter.

To convince us the immediate relaxation cycle is an aberration, the share price needs strong recovery above 8,750p as this should prove capable of a fairly dull 9,140 with our longer term secondary, if exceeded, at 10,450 and a new all time high.

 

We suspect this shall prove worth watching in case 6,269p makes an appearance.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:09:31PM	BRENT	60.97
10:11:18PM	GOLD	1843.72
10:14:19PM	FTSE	6520.13									‘cess
10:21:39PM	FRANCE	5660.7
10:24:34PM	GERMANY	13933.58	13894	13846	13731	14035	14077	14139.5	14244	13956	Success
10:26:24PM	US500	3912.42	3883	3869.5	3848	3920	3934	3940	3959	3912	Success
10:28:49PM	DOW	31442									Success
10:30:25PM	NASDAQ	13669
10:33:16PM	JAPAN	29279									‘cess

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%

8/02/2021 FTSE Closed at 6523 points. Change of 0.43%. Total value traded through LSE was: £ 5,203,801,333 a change of -25.46%

5/02/2021 FTSE Closed at 6495 points. Change of -0.12%. Total value traded through LSE was: £ 6,981,544,293 a change of 30.51%

4/02/2021 FTSE Closed at 6503 points. Change of -0.06%. Total value traded through LSE was: £ 5,349,556,442 a change of 1.88%

3/02/2021 FTSE Closed at 6507 points. Change of -0.14%. Total value traded through LSE was: £ 5,250,745,013 a change of -4.46%

2/02/2021 FTSE Closed at 6516 points. Change of 0.77%. Total value traded through LSE was: £ 5,495,808,707 a change of -1.14%