Trends And Targets

#FTSE #DOW News of The Bodyshop taking sides against Harry Potter author, JK Rowling, in the gender debate provoked a pile of emails, everyone essentially expecting Bodyshop shares to experience a “Ratner Moment”. There’s a bit of a wrinkle in the face cream, due to Bodyshop now being owned by a Brazilian traded organisation.

By any standards, it certainly appeared as odd, a cosmetics company choosing to side with “men who identify as women” rather than their presumed customer base, actual women. Surely, with all that’s going on in the world, there are more important things to discuss than a logic which allows a bloke to wake up one day and decide he must have the same rights as the opposite sex. But Twitter, being Twitter, decided the debate was the most important thing in the world for a while. The author, JK Rowling, doesn’t agree men in frocks should have access to female changing rooms etc. Obviously, some people felt death threats was the best way forward…

As for Natura, given this worldwide concern is based in Brazil and owns Bodyshop, Avon Cosmetics, and of course the Natura brand, it appears probable the Twitter storm shall pass their share price by. At present, the company is trading around 40 Brazilian Real, needing to weaken below 32 Real to justify raising a bush eyebrow. Such a state of affairs risks reversal to an initial 20 Real with secondary, if broken, at a bottom of 9.5 Real. Absolutely nothing about recent price movements suggests this is coming. Quite the opposite in fact as above 43 Real looks capable of achieving 52 eventually, a new all time high!

As for FTSE for FRIDAY, we can certainly question the markets parentage, just not its gender. Thursday dropped further than it should have and after hours futures continued the party, eventually reaching down to the 5,960 level. This was really not great, especially as we’d expected the reversal to pause around the 6,100 point. It creates a situation where it feels pretty certain the UK market shall be forced to open down on Friday.

 

We’re not confident we’ve a clue what to expect, thanks to FTSE Futures trading around 6,000 points at time of writing. If the UK market opts to open for business below 6028 points, there’s a bit of a problem as we’re looking at the potential of continued reversal toward 5911 points. If broken, secondary calculates at 5807 points.

The FTSE itself closed Thursdays session at 6,076 points, so we’re laying a scenario which permits some really strong reversals. Unlike our missive last Friday which proved extremely successful, we’re not terribly comfortable with this scenario.

 

It’s important to remember ‘after hours FTSE Futures’ can often be regarded as similar to a social media storm, something which rarely survives the cold light of day. In addition, the UK market did two quite concise things at the close of business on Thursday.

Firstly, reversal of the UK index (NOT after hours futures) stopped pretty firmly against the immediate Red uptrend. Secondly, the session closed at 6,076 points, matching but not exceeding, the previous low at the end of May. Both these details tend suggest some sort of bounce should happen. Fans of the pedantic will have noticed the FTSE also closed 0.1 points higher than the low at the end of May. Again, a very pedantic reason to favour a rebound.

 

In the event a miracle occurs and the UK market finds itself trading above 6123 points, recovery toward an initial 6157 is supposed to happen. If exceeded, our secondary calculation comes along at 6212 points.

 

To reiterate, we’re not confident we’ve a clue what to expect, other than a Friday and some good weather. Have a good weekend.

 

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:48:26PM	BRENT	38.5	37.96	37.06		39.27	39.65	40.09		38.67	Success
10:50:02PM	GOLD	1728.05	1721	1712.5		1735	1738	1746.5		1723	‘cess
10:53:56PM	FTSE	6007.31	5964	5789		6065	6047	6107.5		5990	Success
10:57:20PM	FRANCE	4739.2	4732	4689		4836	4840	4872		4764	Success
11:00:00PM	GERMANY	11842	11810	11752		11939	11940	12022		11830	Success
11:03:12PM	US500	3012	2997	2962		3027	3046	3085.5		3027	Success
11:06:50PM	DOW	25230	25070	24969		25350	25440	25605		25240	Success
11:10:31PM	NASDAQ	9617	9560	9470		9668	9687	9742		9588	Success
11:12:46PM	JAPAN	21710	21598	21568.5		21817	21940	22046.5		21680

 

 

11/06/2020 FTSE Closed at 6076 points. Change of -4%. Total value traded through LSE was: £ 6,224,767,909 a change of 0.67%

10/06/2020 FTSE Closed at 6329 points. Change of -0.14%. Total value traded through LSE was: £ 6,183,586,009 a change of -20.17%

9/06/2020 FTSE Closed at 6338 points. Change of -2.07%. Total value traded through LSE was: £ 7,746,073,267 a change of -2.7%

8/06/2020 FTSE Closed at 6472 points. Change of -0.19%. Total value traded through LSE was: £ 7,960,814,062 a change of 13.86%

5/06/2020 FTSE Closed at 6484 points. Change of 2.26%. Total value traded through LSE was: £ 6,991,891,155 a change of 13.09%

4/06/2020 FTSE Closed at 6341 points. Change of -0.64%. Total value traded through LSE was: £ 6,182,855,691 a change of -6.26%

3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%

 

 

#Brent #SP500 It’s a real pity there’s not a statue of Zeus here in Argyll. Demolishing a statue reminder of the God of Rain is an attractive proposition, given our weather. Unfortunately the act is uncomfortably close to burning books just ‘cos we don’t agree with their content. Removing grim reminders of history makes it easy to forget important episodes, placing a schools choice of history lessons the only chance most people will get to be taught “who’s who”.

In Antwerp, the statue of King Leopold had ample plaques to remind Belgians of their savage, genocidal, history in the Congo. It’s now gone, along with its ability to educate passers by, victim of a mob of book burners.

This brings are rather neatly to Lloyds, subject of a number of email requests. Which is a pity, because it means we cannot tell a joke about a UK PM’s popularity dropping faster than slaver statues!

 

In the last month, Lloyds has once again failed to launch itself to the heavens, share price behaviour proving quite insipid when viewed against wider market (illogical) recovery. While it’s still the case the FTSE needs above 6,750 to convince us recovery is real, in the case of Lloyds there’s something a bit funny going on at 38.8p.

The immediate situation now suggests this share needs exceed 38.8p to trigger movement to 42.7p. Obviously this is not the most scintillating recovery but from our perspective, is a fairly big deal and provides the first solid indication the share price has bottomed. Should 42.7p be exceeded, our secondary calculation works out at 48.2p and takes the share price into a zone where it’s “game on” for some stronger future movements.

 

If the market plans real mischief, below Red (presently 27p) will give ample concern, still signalling reversal to 22p initially with secondary, if broken, at 5p and a dip in the harbour.

Lloyds are a share we generally review monthly. During the current confused market, we’re inclined to accelerate this and shall check up on Lloyds (or Barclays) on a weekly basis.

 

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:08:37PM	BRENT	41.31	40.26	39.505	38.65	41.6	42.12	42.36	42.71	40.5
10:10:26PM	GOLD	1738.94									Success
10:12:32PM	FTSE	6295.04									Shambles
10:16:35PM	FRANCE	5037.2									Shambles
10:19:15PM	GERMANY	12488.69									‘cess
10:21:10PM	US500	3187.12	3181	3174.5	3155	3213	3222	3230.5	3247	3188
10:23:59PM	DOW	26965									Success
10:28:09PM	NASDAQ	10092									Success
10:30:02PM	JAPAN	22865									Success

 

 

10/06/2020 FTSE Closed at 6329 points. Change of -0.14%. Total value traded through LSE was: £ 6,183,586,009 a change of -20.17%

9/06/2020 FTSE Closed at 6338 points. Change of -2.07%. Total value traded through LSE was: £ 7,746,073,267 a change of -2.7%

8/06/2020 FTSE Closed at 6472 points. Change of -0.19%. Total value traded through LSE was: £ 7,960,814,062 a change of 13.86%

5/06/2020 FTSE Closed at 6484 points. Change of 2.26%. Total value traded through LSE was: £ 6,991,891,155 a change of 13.09%

4/06/2020 FTSE Closed at 6341 points. Change of -0.64%. Total value traded through LSE was: £ 6,182,855,691 a change of -6.26%

3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%

2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%

 

#FTSE #Nasdaq You don’t need dandruff to have a Blue Passport, despite De La Rue experiencing a solid ‘Head & Shoulders’ moment between 2003 and 2018! Before moving on to discuss chart patterns, smiling about LSE:DLAR losing their post-Brexit UK passport contract to a French concern still feels cruel.

However, De La Rue appear to be benefiting from new international contracts and their share price has bounced from its Covid-19 bottom, so perhaps this banknote and security document printer shall provide some decent recovery in the months ahead. Thus far, the market appears to think so as the recoil from the 40p level has been pretty stunning.

 

We’re pretty far from “sold” on the concept of chart patterns but the vague 15 year Head & Shoulders formation on DLAR suggested the potential of the price reversing to 22p. Even our own calculations had presented an ultimate bottom potential at 15p, when we briefly glanced at the share price back in May 2019 (link). When the share opted to spend a couple of months at the 40p level, we awaited the final plunge as it felt inevitable. Thankfully this didn’t occur and instead, the price appears to have easily exceeded the immediate downtrend.

While we distrust chart patterns, the circled area on the chart highlights something we’ve grown to like as it’s fairly reliable. A ‘Glass Ceiling’ has formed at 150p and only with closure above this level dare we speculate on the potential of coming growth to 257p. If exceeded, our secondary calculation works out at 415p. In the great scheme of things, both targets make a lot of visual sense.

An attempt at 257p in the months ahead shall signal a challenge of the Blue downtrend can be expected.

If 257p is exceeded, a further attempt at 415p matches the level of trend break back in 2019, when the share price finally slipped below the long term Red uptrend. From a Big Picture perspective, closure above 415p is liable to be a serious signal, one capable of provoking strong recovery. We shall require to run the numbers again above this level thanks to the number of manipulation gaps on the chart but an initial attempt at the 600p level looks sane.

 

Goodness knows what will happen if the company ever discover blue ink for their printers, enabling the fabled UK Blue passport to be again produced in England. All kidding aside, we’re puzzled at how this nonsense became a media “thing”, assuming most folk keep their passport in a wallet which also contains sufficient pockets for all the other bits of paper required to fly anywhere, along with tickets for parking, seating, and the business card of that bloke you sat alongside 7 years ago…

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:28:46PM	BRENT	40.93									‘cess
10:32:43PM	GOLD	1715.57									‘cess
10:35:18PM	FTSE	6334.31									Success
10:41:14PM	FRANCE	5096.5	5052	5023	4962	5115	5131	5156	5196	5075	Success
10:44:57PM	GERMANY	12617.66									Success
10:54:55PM	US500	3208.62
10:57:47PM	DOW	27301.1									Shambles
11:01:29PM	NASDAQ	9967.99	9936	9904	9869	9990	10009	10050	10117	9810	Success
11:04:42PM	JAPAN	22888									Success

 

9/06/2020 FTSE Closed at 6338 points. Change of -2.07%. Total value traded through LSE was: £ 7,746,073,267 a change of -2.7%

8/06/2020 FTSE Closed at 6472 points. Change of -0.19%. Total value traded through LSE was: £ 7,960,814,062 a change of 13.86%

5/06/2020 FTSE Closed at 6484 points. Change of 2.26%. Total value traded through LSE was: £ 6,991,891,155 a change of 13.09%

4/06/2020 FTSE Closed at 6341 points. Change of -0.64%. Total value traded through LSE was: £ 6,182,855,691 a change of -6.26%

3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%

2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%

1/06/2020 FTSE Closed at 6166 points. Change of 1.48%. Total value traded through LSE was: £ 4,710,780,672 a change of -60.33%

 

#Gold #SP500 “You wouldn’t believe the dream I had last night?” This comment started the day, something doubtless experienced throughout lockdown kingdom as we try and find something new to talk about. My wife rushed into the telling her dream before it vanished, giving an incredibly detailed, complex, and altogether unlikely story of visiting her Mum in the Care Home.

Married life has taught a few things are pretty sacrosanct and interrupting the retelling of a dream is about as wise as questioning the latest diet plan results. On this particular occasion, I’d had no worries of forgetting a very lucid dream. When she finished her fabulous and heart-warming tale, she asked;

“Well, what’s the dream you had?” already knowing she’d completely out-trumped anything I could relate.

“I dreamt you had found the right size of bread for the toaster.” (Gluten Free pretend bread is about the size of two Post-It notes.)

 

Retelling this story is somewhat better than relating a couple of dreams of utter frustration, sadly featuring share prices which refused to go up regardless of numerous positive reasons. Thankfully this no longer seems the case as there appear plenty of reasons to believe the market is currently “coming back”. One such share is Marston’s PLC with recent price movements giving a pretty solid push-back against all the doom and gloom fears, certainly in the Scottish Highlands. To be blunt, unpleasant numbers of landlords are suggesting they do not intend re-open once lockdown ends. On the other hand, Marston’s, who describe themselves as the UK’s leading independent brewing and pub retail business, appear to have a share price ready to celebrate the end of lockdown.

 

Our normal rules had defined 68p as a pretty major point of interest and suggested if the share actually closed above such a level, there was a reasonable chance the recent Covid-19 drop to 18p was “bottom” and some true recovery can be hoped. This being the case, the immediate situation hints at movement now above 83p attempting an initial 90p with secondary, if exceeded, a more useful 113p.

We’re fairly interested in the potential of 113p for several reasons, suspecting this level shall prove capable of some pushback. Firstly, it suggests an attempt at the long term downtrend (Blue) can be expected later this year. Secondly, it’s slightly above a Glass Ceiling level shown in a Red circle on the chart. To cut a long and boring story short, only closure above 113p is liable to prove a really big deal for the long term as a growth cycle to 196p calculates as very possible.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:11:16PM	BRENT	40.95
10:17:30PM	GOLD	1698.91	1686	1683	1677	1696	1700	1712	1726	1689
10:19:44PM	FTSE	6506.22
10:21:12PM	FRANCE	5229.2
10:25:06PM	GERMANY	12916									‘cess
10:27:19PM	US500	3229.77	3184	3175.5	3156	3200	3233	3244	3331	3185
10:29:51PM	DOW	27549
10:32:38PM	NASDAQ	9887.87									‘cess
10:35:28PM	JAPAN	23207

8/06/2020 FTSE Closed at 6472 points. Change of -0.19%. Total value traded through LSE was: £ 7,960,814,062 a change of 13.86%

5/06/2020 FTSE Closed at 6484 points. Change of 2.26%. Total value traded through LSE was: £ 6,991,891,155 a change of 13.09%

4/06/2020 FTSE Closed at 6341 points. Change of -0.64%. Total value traded through LSE was: £ 6,182,855,691 a change of -6.26%

3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%

2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%

1/06/2020 FTSE Closed at 6166 points. Change of 1.48%. Total value traded through LSE was: £ 4,710,780,672 a change of -60.33%

29/05/2020 FTSE Closed at 6076 points. Change of -2.28%. Total value traded through LSE was: £ 11,874,374,361 a change of 71.67%

 

#Brent #DAX Dislocating a shoulder, due to our FTSE for FRIDAY, ensured a good weekend! We projected 6482 points. The market closed at 6484 points and 2.2% up, justifying a hard self inflicted thump on the back. The we noted our last review of the #DOW at the end of miserable March included a “HOWEVER” in capital levels, essentially suggesting reservations over our negative analysis.

 

The particular “However” threatened a surprise recovery of 2,000+ points. Due to the Dow Jones presently surfing around 27,000 points, we should probably update our thoughts as it has outstripped all near term logic. Chatting to a trader, mentioning the US market had “only” recovered a couple of million jobs in Fridays report should be seasoned against the reality the country had lost over 20 millions jobs due to the pandemic. His immediate, glib answer; ‘they’ll all come back, no worries’. This also tends disregard the threat of further Coronavirus issues, due to large numbers demonstrating and visually ignoring any demand for social distancing.

It all feels slightly mad, yet this attitude doubtless assisting the US market achieving a stonking 3.1% up day on Friday. We truly hope we shall not see a return to large numbers of people suffering further Covid-19 infections in just a few weeks. Obviously, this shall once again risk a panic response by government, along with another hammering for share prices.

 

Of course, if there is NOT another massive round of case in the next fortnight, it will be reasonable to ask whether government response with the initial pandemic was misguided?

 

As for as Wall St, the Dow Jones Index, is concerned, it has now outperformed the Covid-19 drop and has eased into territory where some quite extraordinary figures are allegedly available. Next above 27,340 will be seen as entering a further cycle to an initial 28,233 points. If exceeded, secondary works out at 29,316 points. Glancing at the chart below, the secondary ambition feels truly immoral, an attempt at the previous all time high against a back ground of the USA suffering a 100,000 death toll.

If we apply our “if it were a share” argument, we’re able to now point out the DOW has a longer term ambition above 31,000 points.

 

For it all to go wrong, Wall St needs slip below Blue on the chart to start alarm bells ringing loudly. Presently, this critical level is at 26,250 points. We would warn, any market movement capable of “gapping” the index back below Blue screams one thing. ‘Go Short and Wait!’.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
11:34:35AM	BRENT	41.94	40.12	39.64	38.66	41.4	42.58	45.74	54.65	39	Success
11:39:07AM	GOLD	1686.3									Success
12:12:37PM	FTSE	6451.15									‘cess
12:14:40PM	FRANCE	5166.5									Success
12:18:27PM	GERMANY	12755.98	12515	12431.5	12287	12662	12865	12904	13222	12515	Success
12:21:47PM	US500	3189.27									Success
12:25:28PM	DOW	27089.8									Success
12:28:14PM	NASDAQ	9810.75									Success
12:30:25PM	JAPAN	23164									Success

 

5/06/2020 FTSE Closed at 6484 points. Change of 2.26%. Total value traded through LSE was: £ 6,991,891,155 a change of 13.09%

4/06/2020 FTSE Closed at 6341 points. Change of -0.64%. Total value traded through LSE was: £ 6,182,855,691 a change of -6.26%

3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%

2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%

1/06/2020 FTSE Closed at 6166 points. Change of 1.48%. Total value traded through LSE was: £ 4,710,780,672 a change of -60.33%

29/05/2020 FTSE Closed at 6076 points. Change of -2.28%. Total value traded through LSE was: £ 11,874,374,361 a change of 71.67%

28/05/2020 FTSE Closed at 6218 points. Change of 1.2%. Total value traded through LSE was: £ 6,916,892,220 a change of -17.92%

 

#FTSE #GOLD The market continues to behave as if Covid-19 was all a bad dream and can be forgotten. This weeks ‘result’ of the UK achieving a higher death toll than the rest of the EU combined certainly gave pause for reflection. The FTSE appears to have embraced the delusion, still looking to have some fairly strong potentials in the next few weeks.

 

Of course, as is our inclination, we’ve spotted a little problem in the future. At present, the Big Picture claims the market intends to continue powerful recovery, hinting we should hope for 6732 to make an appearance. By any standards, this will prove a strong bounce from the lows of 4,890 but the “nerd element” in house point at a pretty major issue.

Firstly, achieving 6732 is a major target level, one at which we would normally anticipate some turbulence.

Secondly, it almost exactly matches the point of “trend break”, when the uptrend from March 2009 was broken in March 2020.

From a movement perspective, this fairly major issue risks raining on the FTSE parade. On March 6th 2020, when the critical uptrend broke, the market broke the Red line at roughly 6753 points. At present, we’re projecting a movement potential which fails the better the point of trend break and this is liable to be troubling, the FTSE failing to achieve a safe Higher High and finding itself in a position where any negative news shall prove capable of forcing some pretty vile weakness. Despite there only being a few points difference between our recovery ambition and the point of trend break, this sort of nonsense tends cause trouble more often than we’d like to admit.

Essentially, once a price recovers above the point of such an important trend break, it meets the first criteria for Higher Highs and gives considerable hope for the future. It’s difficult not to wonder, with politicians again gathering at the trough, schools returning, and lockdown easing, whether we face a resumption of hostilities again in a few weeks with virus numbers again increasing. This risks a Perfect Storm, if it coincides with the FTSE approaching the 6732 level.

 

 

Nearer term, the FTSE is looking quite hopeful for Friday. Apparently moves next above 6403 points should harbour thoughts of an attempt at 6444 points. If bettered, secondary calculates at 6482 points. If triggered, the tightest stop is at 6314 points, painfully wide. To make things more palatable, even above 6388 points now looks capable of triggering the upward movement.

 

As always, there’s a reverse side of the coin for the near term. Below 6314 looks capable of triggering reversal to 6289 points. If broken, secondary works out down at a surprising looking 6230 points.

 

Finally, have a good weekend and cherish it, ‘cos we’re not due any more market holidays until the end of August, a place which sounds very far away at present!

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:37:46PM	BRENT	40.07	38.81	38.39		39.77	40.16	40.835		39.25
9:39:39PM	GOLD	1714.48	1697	1689		1712	1722	1728		1711	‘cess
9:43:30PM	FTSE	6351.44	6324	6304.5		6349	6411	6457.25		6308
9:45:00PM	FRANCE	4996.7	4960	4937		5014	5052	5080		4978
9:47:07PM	GERMANY	12440	12321	12254.5		12432	12566	12671.5		12453
10:00:08PM	US500	3117.02	3089	3080		3115	3119	3129.5		3098
10:02:03PM	DOW	26310	26070	26022.5		26270	26388	26418		26220
10:03:50PM	NASDAQ	9649	9574	9514		9650	9683	9722.5		9624	‘cess
10:06:30PM	JAPAN	22734	22490	22371		22702	22855	22961.5		22685

4/06/2020 FTSE Closed at 6341 points. Change of -0.64%. Total value traded through LSE was: £ 6,182,855,691 a change of -6.26%

3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%

2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%

1/06/2020 FTSE Closed at 6166 points. Change of 1.48%. Total value traded through LSE was: £ 4,710,780,672 a change of -60.33%

29/05/2020 FTSE Closed at 6076 points. Change of -2.28%. Total value traded through LSE was: £ 11,874,374,361 a change of 71.67%

28/05/2020 FTSE Closed at 6218 points. Change of 1.2%. Total value traded through LSE was: £ 6,916,892,220 a change of -17.92%

27/05/2020 FTSE Closed at 6144 points. Change of -100%. Total value traded through LSE was: £ 8,427,394,585 a change of 0%

#CAC40 #Japan When we last reviewed venture capitalists, #Tern, in October, we projected a bottom of 4p. The entire world had to catch a cold before it finally dipped to target and the bounce has been fairly impressive. Once Covid-19 clears up, it will be interesting to see how Venture Capitalists are in demand, given the number of companies who’ve run low, often critically low, on financial reserves.

 

On the basis Tern are about to find themselves able to cherry pick opportunities, we’ve looked for a trigger level with the intention of identifying the point at which the share price recovery becomes “safe”. It’s worth remembering the word “safe” has no business in a discussion about share prices!

It appears the 15p level shall prove important for the future as this calculates as a point capable of triggering some fairly strong upward travel. To cut to the chase, above 15p should prove capable of an attempt at 19.7p next and some hesitation, if only due to the historical glass ceiling awaiting. Above 19.7p and the future becomes quite useful with a secondary calculation of 25p (and beyond) awaiting in the distance.

What’s a little odd about Tern has been its ‘failure to launch’, despite repeated attempts since its thrashing in 2018. For this reason, we elected to emplace a trigger level at a point above which movement becomes difficult to rescind.

Finally, if we dwell on danger levels, below 9.5p looks especially troubling, apparently capable of provoking reversal to 4.75p.

 

For now, the share looks almost ready to fly and thus, similar to the major airlines, it’s fingers crossed time.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:49:57PM	BRENT	39.34									‘cess
9:52:19PM	GOLD	1699.68									Success
9:55:24PM	FTSE	6386.74									Success
9:57:35PM	FRANCE	5031.7	4906	4879	4823	4964	5047	5118.75	5251	4906	Success
10:05:25PM	GERMANY	12519									Success
10:08:01PM	US500	3120									Success
10:18:56PM	DOW	26274.7									Success
10:21:50PM	NASDAQ	9694.5									‘cess
10:23:19PM	JAPAN	22902	22463	22386	22196	22669	22956	22991.5	23067	22762	‘cess

 

3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%

2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%

1/06/2020 FTSE Closed at 6166 points. Change of 1.48%. Total value traded through LSE was: £ 4,710,780,672 a change of -60.33%

29/05/2020 FTSE Closed at 6076 points. Change of -2.28%. Total value traded through LSE was: £ 11,874,374,361 a change of 71.67%

28/05/2020 FTSE Closed at 6218 points. Change of 1.2%. Total value traded through LSE was: £ 6,916,892,220 a change of -17.92%

27/05/2020 FTSE Closed at 6144 points. Change of 1.27%. Total value traded through LSE was: £ 8,427,394,585 a change of 29.04%

26/05/2020 FTSE Closed at 6067 points. Change of -100%. Total value traded through LSE was: £ 6,530,822,409 a change of 0%