Prudential Plc (LSE:PRU) and recovery arguments

#Gold #SP500 Sometimes a share price can perform in surprising ways and over the years, we’ve learned to pay attention to some specific movements. At present, Prudential Plc are exhibiting one of these dance movements which perhaps shall become an early warning signal for some movement of strength.  In this instance, we’ve drawn a circle on the chart where the share price appears to be reacting to the downtrend for 2023 and visually, there seems to be no reason for this.

When this phenomena occurs, it costs nothing to keep an eye on the share price, especially as next time it exceeds the downtrend there’s a heightened chance of an upward spike and usually it’s one which shall stick. In the case of Prudential, exceeding Blue at 925.91 presently, will serve to introduce the potential of gains to an initial 1004p with our longer term secondary, if exceeded, calculating at a future 1189p. Obviously, we are being a touch cautious here as just because the share price is following the downtrend from afar, there’s no certainty it will indeed shoot higher. But then again, this is the stock market, a field where the word “certainty” should be banned, perhaps replaced with “balance of probabilities!”

Overall, should Prudential share price successfully manage to close a session above Blue, we can calculate a long term attraction as coming from 1499p.

 

Our alternate scenario for Prudential questions the drop potentials, if the share price were to discover an excuse to break below Red on the chart. Currently this level is around 817p and movement below such a point risks triggering reversals to an initial 697p with our secondary, if such a level breaks, working out at a silly looking future 465p.

Our inclination, for now, is to lean on the side of optimism.

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:51:36PM BRENT 8242.1
10:55:50PM GOLD 1945.92 1943 1933 1922 1950 1950 1955 1962 1945
10:58:31PM FTSE 7430.9
11:00:57PM STOX50 4234.6
11:03:59PM GERMANY 15367 ‘cess
11:06:44PM US500 4412.3 4404 4397 4388 4414 4420 4424 4428 4409
11:09:09PM DOW 34343
11:11:29PM NASDAQ 15493.6
11:14:38PM JAPAN 32796

 

13/11/2023 FTSE Closed at 7425 points. Change of 0.88%. Total value traded through LSE was: £ 5,102,955,229 a change of 1.94%
10/11/2023 FTSE Closed at 7360 points. Change of -1.27%. Total value traded through LSE was: £ 5,005,893,152 a change of 2.35%
9/11/2023 FTSE Closed at 7455 points. Change of 0.73%. Total value traded through LSE was: £ 4,890,859,412 a change of -30.52%
8/11/2023 FTSE Closed at 7401 points. Change of -0.12%. Total value traded through LSE was: £ 7,039,129,505 a change of 60.87%
7/11/2023 FTSE Closed at 7410 points. Change of -0.09%. Total value traded through LSE was: £ 4,375,663,657 a change of 7.72%
6/11/2023 FTSE Closed at 7417 points. Change of 0%. Total value traded through LSE was: £ 4,062,204,136 a change of -15.12%
3/11/2023 FTSE Closed at 7417 points. Change of -0.39%. Total value traded through LSE was: £ 4,785,653,725 a change of -23.42%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:FGP Firstgroup** **LSE:FOXT Foxtons** **LSE:FRES Fresnillo** **LSE:GKP Gulf Keystone** **LSE:GRG Greggs** **LSE:JET Just Eat** **LSE:RR. Rolls Royce** **LSE:STAR Star Energy** **

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Updated charts published on : Firstgroup, Foxtons, Fresnillo, Gulf Keystone, Greggs, Just Eat, Rolls Royce, Star Energy,

LSE:FGP Firstgroup. Close Mid-Price: 165.1 Percentage Change: + 0.06% Day High: 167.8 Day Low: 164

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LSE:FOXT Foxtons. Close Mid-Price: 40 Percentage Change: + 2.43% Day High: 41.15 Day Low: 39

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LSE:FRES Fresnillo. Close Mid-Price: 517.8 Percentage Change: + 0.23% Day High: 521.4 Day Low: 511.6

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LSE:GKP Gulf Keystone. Close Mid-Price: 138.4 Percentage Change: + 17.69% Day High: 142.2 Day Low: 120.9

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LSE:GRG Greggs. Close Mid-Price: 2538 Percentage Change: + 0.00% Day High: 2574 Day Low: 2530

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LSE:JET Just Eat. Close Mid-Price: 1152 Percentage Change: + 4.44% Day High: 1155 Day Low: 1108

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LSE:RR. Rolls Royce. Close Mid-Price: 240.2 Percentage Change: + 3.53% Day High: 240.2 Day Low: 232.6

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LSE:STAR Star Energy Close Mid-Price: 9.98 Percentage Change: -3.94% Day High: 10.4 Day Low: 9.51

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*** End of “Updated Today” comments on shares.

Lloyds Banking Group (LSE:LLOY) and the perfect cuppa…

#Brent_Futures #Dax Every now and then, something good happens. It can be as simple as making “the perfect coffee”, a rare moment in time when the combination of ingredients was ideal and producing that 1 in 1000 cuppa.  But for someone with a little tractor,  fitting the grass cutting attachment the day before a frost dusted the lawn was my own perfect moment. Finally the green stuff would be neatly cut for the coming winter but of course, the trees dumped several tons of leaves on the garden shortly thereafter!

For years, I’d tried to give the sodding grass a “final” cut and for years, the weather always looked at my efforts and sniggers, choosing to spend the next three weeks raining with moderate temperatures, encouraging the grass to grow again. But this year, I got it, the cutting set at level 10 as it scoured the grass, spitting the mulched greenery out faster than a Metropolitan policeman chasing an excuse to do nothing.

 

Lloyds continue to avoid giving investors anything approaching “a perfect moment”, their share price breaking our previous 40.1p target level, eventually bouncing unconvincingly from 39.5p. Currently, any bounce needs reach a little higher as it looks like the share now needs above 42.5p to hopefully trigger recovery to a tame 43.3p with our secondary, if this level is exceeded, calculating at 45p. The visuals certainly support a visit to the 45p level but with closure around such a point, something significant is possible as the price will exceed the downtrend for 2023, dumping the price in a zone where a future attraction from 51.2p allegedly becomes possible.

It’s still the case we hope for the day when the market opts to gap this share price above a downtrend as this should send a pretty solid message of future gains being anticipated. But for now, this share price appears destined to spend time fluttering around in the range from 40 to 50p.

 

Our alternate scenario is now the risk of weakness below 40p bringing the price back down to an initial 38.8 with secondary, if broken, at 35.5p, a price level from which a bounce would be ideal. There’s a further danger should 35.5p as our “ultimate bottom” for Lloyds now calculates at 28.75p, this being the price level below which we cannot calculate.

 

 


FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop
9:46:41PM BRENT 8141 7948 7802 7313 8174 8184 8284 8413 8109
9:49:08PM GOLD 1937 1943
10:02:23PM FTSE 7402 7386
10:07:55PM STOX50 4230.3 4194
10:09:58PM GERMANY 15325.9 15171 15128 15047 15262 15336 15373 15440 15265
10:11:47PM US500 4408 4384
10:13:27PM DOW 34225.5 34135
10:16:52PM NASDAQ 15511.6 15435
10:19:42PM JAPAN 32811 32801
10/11/2023 FTSE Closed at 7360 points. Change of -1.27%. Total value traded through LSE was: £ 5,005,893,152 a change of 2.35%
9/11/2023 FTSE Closed at 7455 points. Change of 0.73%. Total value traded through LSE was: £ 4,890,859,412 a change of -30.52%
8/11/2023 FTSE Closed at 7401 points. Change of -0.12%. Total value traded through LSE was: £ 7,039,129,505 a change of 60.87%
7/11/2023 FTSE Closed at 7410 points. Change of -0.09%. Total value traded through LSE was: £ 4,375,663,657 a change of 7.72%
6/11/2023 FTSE Closed at 7417 points. Change of 0%. Total value traded through LSE was: £ 4,062,204,136 a change of -15.12%
3/11/2023 FTSE Closed at 7417 points. Change of -0.39%. Total value traded through LSE was: £ 4,785,653,725 a change of -23.42%
2/11/2023 FTSE Closed at 7446 points. Change of 1.42%. Total value traded through LSE was: £ 6,249,429,649 a change of 34.92%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:AAL Anglo American** **LSE:AZN Astrazeneca** **LSE:DGE Diageo** **LSE:FGP Firstgroup** **LSE:ITM ITM Power** **LSE:ITV ITV** **

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Updated charts published on : Anglo American, Astrazeneca, Diageo, Firstgroup, ITM Power, ITV,

LSE:AAL Anglo American Close Mid-Price: 2018.5 Percentage Change: -2.77% Day High: 2055.5 Day Low: 1982

Weakness on Anglo American below 1982 will invariably lead to 1975p with ……..

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LSE:AZN Astrazeneca Close Mid-Price: 10090 Percentage Change: -3.32% Day High: 10404 Day Low: 10028

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LSE:DGE Diageo Close Mid-Price: 2850 Percentage Change: -12.17% Day High: 2998.5 Day Low: 2719

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LSE:FGP Firstgroup Close Mid-Price: 165 Percentage Change: -0.24% Day High: 166 Day Low: 163.2

Further movement against Firstgroup ABOVE 166 should improve acceleration ……..

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LSE:ITM ITM Power Close Mid-Price: 57.56 Percentage Change: -6.95% Day High: 62.22 Day Low: 56.7

Target met. Continued weakness against ITM taking the price below 56.7 ca ……..

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LSE:ITV ITV Close Mid-Price: 59.72 Percentage Change: -3.37% Day High: 61.1 Day Low: 59.52

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*** End of “Updated Today” comments on shares.

FTSE for FRIDAY (FTSE:UKX) and an interest rate grump

#FTSE #Gold A story in the FT worth paying attention to was the news corporate bankruptcies in the US are expected to reach their highest level since 2010, while in the UK and Europe, things have already hit the fan with insolvencies at a record high for the period since 2009. Unsurprisingly, the problem is being blamed on interest rates and over the next few years, things are not expected to improve.

Surely this issue is liable to effect the markets, both with an increased loss of confidence in “things” along with increased unemployment as companies eat themselves alive, trying to cope with the affect of predatory interest rates. This is almost certainly due to governments proving sufficiently gullible to believe central banks, telling them interest rates deal with inflation. The concept of banks controlling what’s best for banks is something which truly escapes us, more dangerous than the police investigating themselves or politicians doing similar. Perhaps, if reviewing bank profits, the true beneficiaries of bank interest rates become obvious. After all, while it has become fashionable to shave the preface “bank” away from the term interest rates, the harsh reality of the damage being done is shown by the increase in business bankruptcy, along with the increase in the bottom line for banks. Or in plain English, we’re not hopeful at what the markets hold for 2024, due to an excess number of shares hitting reversal triggers.

Who knows, maybe Santa will bring some relief…

 

Our inclination is to take the circled area on the chart as an ‘early warning signal’ for trouble ahead, essentially expecting any future break below Red to provoke sharp and severe reversals. Currently, this level is at 7368.873 points, a number and trend confirmed by the FTSE low on Thursday at 7367.21 points. But for now, it looks like Friday is supposed to be a day with some further recovery on the FTSE.

Now above just 7466 points (it closed Thursday at 7455) allows for market gains continuing to an initial 7500 points, doubtless with some inevitable hesitation as traders assume any nice solid number like 7500 shall be imbued with mystical properties. Our secondary, should such a level be exceeded, calculates up at 7550 points and very probable real hesitation. If triggered, our tightest stop is at 7407 points but, to be fair, it’s possible 7422 shall suffice.

 

Our alternate scenario, if a tumble into a pool of sharks is planned, allows weakness below 7422 to bring a visit down to an initial 7399 points with our secondary, if broken, at 7347 and no certainty of a rebound as the index shall find itself with a toe in the pool full of sharks!

 

Despite the entertainment emptiness, facing a weekend without Formula 1, have a good break. Here, we’ve noticed road gritters out tonight, covering local roads TWICE. Maybe the grass is indeed at the end of the cutting season, depriving the need to spend time on my little red, single seater, tractor.

 

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:58:54PM BRENT 79.8 79.27 78.14 80.28 81.69 82.42 80.6
10:02:07PM GOLD 1957.42 1944 1926 1965 1968 1975 1948 Success
10:04:26PM FTSE 7429 7365 7349 7418 7465 7482 7418 Shambles
10:06:36PM STOX50 4210.3 4171 4148 4159 4235 4247 4200 ‘cess
10:15:55PM GERMANY 15284 15195 15137 15256 15343 15375 15264 Success
10:18:01PM US500 4350 4343 4327 4364 4399 4424 4359 ‘cess
10:20:53PM DOW 33915.7 33839 33779 34026 34223 34256 34078 ‘cess
10:25:08PM NASDAQ 15192 15220 15132 15285 15356 15410 15274 Shambles
10:27:01PM JAPAN 32523 32497 32345 32736 32879 32965 32645

 

9/11/2023 FTSE Closed at 7455 points. Change of 0.73%. Total value traded through LSE was: £ 4,890,859,412 a change of -30.52%
8/11/2023 FTSE Closed at 7401 points. Change of -0.12%. Total value traded through LSE was: £ 7,039,129,505 a change of 60.87%
7/11/2023 FTSE Closed at 7410 points. Change of -0.09%. Total value traded through LSE was: £ 4,375,663,657 a change of 7.72%
6/11/2023 FTSE Closed at 7417 points. Change of 0%. Total value traded through LSE was: £ 4,062,204,136 a change of -15.12%
3/11/2023 FTSE Closed at 7417 points. Change of -0.39%. Total value traded through LSE was: £ 4,785,653,725 a change of -23.42%
2/11/2023 FTSE Closed at 7446 points. Change of 1.42%. Total value traded through LSE was: £ 6,249,429,649 a change of 34.92%
1/11/2023 FTSE Closed at 7342 points. Change of 0.29%. Total value traded through LSE was: £ 4,632,018,053 a change of -20.08%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:AZN Astrazeneca** **LSE:BDEV Barrett Devs** **LSE:CPI Capita** **LSE:GRG Greggs** **LSE:IAG British Airways** **LSE:ITM ITM Power** **LSE:JET Just Eat** **LSE:SCLP Scancell** **LSE:SPT Spirent Comms** **

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Updated charts published on : Astrazeneca, Barrett Devs, Capita, Greggs, British Airways, ITM Power, Just Eat, Scancell, Spirent Comms,

LSE:AZN Astrazeneca. Close Mid-Price: 10436 Percentage Change: + 2.62% Day High: 10600 Day Low: 10274

Further movement against Astrazeneca ABOVE 10600 should improve accelerat ……..

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LSE:BDEV Barrett Devs. Close Mid-Price: 457.4 Percentage Change: + 2.01% Day High: 458 Day Low: 446.2

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LSE:CPI Capita. Close Mid-Price: 18.32 Percentage Change: + 2.23% Day High: 18.49 Day Low: 17.85

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LSE:GRG Greggs. Close Mid-Price: 2546 Percentage Change: + 0.47% Day High: 2570 Day Low: 2520

All Greggs needs are mid-price trades ABOVE 2570 to improve acceleration ……..

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LSE:IAG British Airways. Close Mid-Price: 154.5 Percentage Change: + 1.15% Day High: 154.8 Day Low: 151.7

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LSE:ITM ITM Power Close Mid-Price: 61.86 Percentage Change: -0.19% Day High: 63 Day Low: 61

Weakness on ITM Power below 61 will invariably lead to 60p with secondary ……..

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LSE:JET Just Eat. Close Mid-Price: 1143 Percentage Change: + 2.51% Day High: 1147 Day Low: 1101

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LSE:SCLP Scancell Close Mid-Price: 11.88 Percentage Change: -1.04% Day High: 12 Day Low: 11.5

If Scancell experiences continued weakness below 11.5, it will invariably ……..

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LSE:SPT Spirent Comms. Close Mid-Price: 104 Percentage Change: + 5.26% Day High: 104.5 Day Low: 99.5

Further movement against Spirent Comms ABOVE 104.5 should improve acceler ……..

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*** End of “Updated Today” comments on shares.

GBP vs USD & Brent Crude, Up or Down…

GBP vs USD & Brent Crude  (FX:GBPUSD & CCOM:OILBRENT) When we previously reviewed the Pound / US Dollar relationship in September, we warned of the importance of a drop target at 1.2081. The chart inset below shows this was achieved on October 3rd, the pairing closing the session at 1.2076, a treacherous 5/10,000’s below our target and thus, one we’re inclined to ignore. Obviously, we can be accused of being a little hypocritical, choosing to ignore one of our targets being broken and we’d agree, especially as the bounce hasn’t yet confirmed “bottom” is in.

For “bottom” to be confirmed, the price needs exceed 1.2375 as this should provoke recovery to an initial 1.2575. Should such a level be beaten, our secondary calculation works out at 1.2905 and closure above such a point will suggest some strong recovery during the next year.

If things intend go wrong for the pairing, below 1.2123 risks triggering reversal down to an initial 1.1937 with our secondary, if broken, calculating down at 1.1501

Brent Crude The current reversal cycle on the price of Crude is really making us wait for the next contrived excuse to keep prices high. Will it be a Saudi refinery failing, Russia threatening some sort of embargo, or the US declaring reserves are dangerously low? We’re cynical but historically, there has been a certain link between falling prices and manufactured headlines, attempting to keep crude oil high. It appears the market has ideas of its own though, recent reversals placing the price of Brent in a place where there’s a strong visual argument implying more trouble.

Below just 79.18 should now trigger reversals to an initial 77.81 with secondary, if broken, at 72.36 and perhaps a bounce. However, we do need point out such a reversal cycle places the price of Brent in a zone, where a constant reversal cycle down to an eventual 57 dollars makes a lot of sense.

It will certainly be interesting, how long this weakness takes to translate into sane fuel prices?

 

Any serious attempt to escape the current reversal cycle needs the price of Brent to exceed 84.5 dollars to convince us. This risks triggering gains to an initial 88 with our secondary, if exceeded, an eventual 95 and some hesitation, due to the historical presence of prior highs.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:17:55PM BRENT 7940
10:20:44PM GOLD 1949.83 1947 1934 1909 1958 1958 1960 1964 1952 ‘cess
10:29:52PM FTSE 7381.2
10:43:48PM STOX50 4174.3 Success
10:46:27PM GERMANY 15203.8 Success
10:50:08PM US500 4376.4
10:53:31PM DOW 34102 33981 33882 33757 34105 34170 34201 34270 34088
10:59:35PM NASDAQ 15285
11:02:31PM JAPAN 32306 ‘cess

 

8/11/2023 FTSE Closed at 7401 points. Change of -0.12%. Total value traded through LSE was: £ 7,039,129,505 a change of 60.87%
7/11/2023 FTSE Closed at 7410 points. Change of -0.09%. Total value traded through LSE was: £ 4,375,663,657 a change of 7.72%
6/11/2023 FTSE Closed at 7417 points. Change of 0%. Total value traded through LSE was: £ 4,062,204,136 a change of -15.12%
3/11/2023 FTSE Closed at 7417 points. Change of -0.39%. Total value traded through LSE was: £ 4,785,653,725 a change of -23.42%
2/11/2023 FTSE Closed at 7446 points. Change of 1.42%. Total value traded through LSE was: £ 6,249,429,649 a change of 34.92%
1/11/2023 FTSE Closed at 7342 points. Change of 0.29%. Total value traded through LSE was: £ 4,632,018,053 a change of -20.08%
31/10/2023 FTSE Closed at 7321 points. Change of -0.08%. Total value traded through LSE was: £ 5,795,517,732 a change of 15.68%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:ASC Asos** **LSE:GENL Genel** **LSE:GRG Greggs** **LSE:ITM ITM Power** **LSE:ITV ITV** **LSE:MKS Marks and Spencer** **LSE:RR. Rolls Royce** **LSE:SCLP Scancell** **LSE:TERN Tern Plc** **LSE:TRN The Trainline** **

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Updated charts published on : Asos, Genel, Greggs, ITM Power, ITV, Marks and Spencer, Rolls Royce, Scancell, Tern Plc, The Trainline,

LSE:ASC Asos Close Mid-Price: 391.8 Percentage Change: -1.53% Day High: 404.9 Day Low: 389.2

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LSE:GENL Genel Close Mid-Price: 75.1 Percentage Change: -2.09% Day High: 77.3 Day Low: 74.4

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LSE:GRG Greggs. Close Mid-Price: 2534 Percentage Change: + 0.64% Day High: 2564 Day Low: 2484

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LSE:ITM ITM Power Close Mid-Price: 61.98 Percentage Change: -3.00% Day High: 64.74 Day Low: 62.02

In the event ITM Power experiences weakness below 62.02 it calculates wit ……..

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LSE:ITV ITV Close Mid-Price: 61.68 Percentage Change: -5.98% Day High: 62.46 Day Low: 60.9

Target met. Continued weakness against ITV taking the price below 60.9 ca ……..

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LSE:MKS Marks and Spencer. Close Mid-Price: 244.1 Percentage Change: + 8.39% Day High: 250.8 Day Low: 238.2

Continued trades against MKS with a mid-price ABOVE 250.8 should improve ……..

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LSE:RR. Rolls Royce. Close Mid-Price: 232.4 Percentage Change: + 2.83% Day High: 236.7 Day Low: 227.7

Target met. Continued trades against RR. with a mid-price ABOVE 236.7 sho ……..

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LSE:SCLP Scancell Close Mid-Price: 12 Percentage Change: -2.04% Day High: 12.25 Day Low: 11.75

In the event Scancell experiences weakness below 11.75 it calculates with ……..

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LSE:TERN Tern Plc Close Mid-Price: 4.25 Percentage Change: -10.53% Day High: 4.5 Day Low: 3.75

Target met. If Tern Plc experiences continued weakness below 3.75, it wil ……..

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LSE:TRN The Trainline. Close Mid-Price: 291.2 Percentage Change: + 2.39% Day High: 299.8 Day Low: 278.4

All The Trainline needs are mid-price trades ABOVE 299.8 to improve accel ……..

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*** End of “Updated Today” comments on shares.

Tritax Eurobox & Chemring Group too (LSE:EBOX & LSE:CHG)

#FTSE #Stoxx50 We’ve had a flurry of email requests and decided to bundle these two together as they are completely diverse. Chemring, a company which should flourish in an era of armed conflict and Eurobox, a company whose only area of conflict is with good taste. Their existence is based on the hideous modern design of warehouses, the big flat box design forgetting humans have to interact with the lack of visual aesthetics.

By all means, the interior shape should be logical but the exterior could reflect tasteful architecture rather than exhibit less design than an empty Amazon box. However, it’s easy to suspect we shall witness more of this abandonment of taste as the current demise of “WeWork” permeates, the move to working from home rendering city tower offices a thing of the past in an incredibly short period of time. But nothing is standing in the way of these flat pack office complexes, quickly thrown up in the suburbs.

 

There’s a particular type of price reversal we intensely dislike, often suspecting it’s to do with market manipulation rather than any solid excuse for reversal. Obviously, this is the UK and as such, such a scenario is impossible, but if it were to happen, Ebox presents a perfect “case in point”. Logically it shouldn’t have reached the 43p level recently but it did, thanks to what feels like a very obvious level of manual control. The 43p level has certainly provoked a half hearted bounce but the greater danger comes with any future break of 43p as further reversal to an ultimate bottom 34p is expected, along with another attempt at a rebound.

However, the lacklustre bounce from 43p does provide some immediate hope as above 51p now calculates with the potential of a lift to an initial 56p with our longer term secondary, if exceeded, coming in at a more useful 70p, along with some hesitation in any rise, if only due to the share price experiencing historical reticence at such a level. This time around, we’d suspect any stutters shall prove to be short lived as the price shall be viewed as breaking free from the downtrend since the start of 2022.

 

Chemring Group, doubtless doing well due to the wars taking place, have a website which is surely worth a visit. They are a company we’ve long known about, yet been unaware of the extent to their activities. They even make the countermeasure flares for F-35 aircraft, probably the most sophisticated fireworks on the planet. From a personal perspective, it’s nice how they reframe the word “explosive” as “energetic materials”, making me wonder if I could get away with describing one of my compressed air cola bottle targets as “an energetic material” when it detonates with a flurry of chalk powder going everywhere. Somehow, it’s doubtful my wife would accept the name change for the hysterical bang.

 

Their share price has proven quite tranquil during 2023. From looking at the pattern of price movement, it looks like the share need only exceed 299p to trigger fairly near term gains to an initial 325p with out longer term secondary, if exceeded, working out at a future 365p.

If everything intends go wrong, the share price requires to descend below 265p to potentially trigger reversal to an initial 235p with our secondary, if broken, calculating at an impossible looking 130p. Who knows, it may be the case military organisations are still using their stored “energetic materials” and fireworks, not yet in the position of re-ordering stocks for their warehouses?

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:21:52PM BRENT 81.6 Success
9:25:25PM GOLD 1969.29 Success
9:54:04PM FTSE 7407 7394 7385 7368 7414 7438 7460 7482 7407
9:57:04PM STOX50 4153 4133 4120 4095 4163 4168 4175 4189 4142 ‘cess
10:03:51PM GERMANY 15158 Shambles
10:06:21PM US500 4383
10:08:38PM DOW 34171.9
10:10:41PM NASDAQ 15308 ‘cess
10:13:26PM JAPAN 32478 Success

 

7/11/2023 FTSE Closed at 7410 points. Change of -0.09%. Total value traded through LSE was: £ 4,375,663,657 a change of 7.72%
6/11/2023 FTSE Closed at 7417 points. Change of 0%. Total value traded through LSE was: £ 4,062,204,136 a change of -15.12%
3/11/2023 FTSE Closed at 7417 points. Change of -0.39%. Total value traded through LSE was: £ 4,785,653,725 a change of -23.42%
2/11/2023 FTSE Closed at 7446 points. Change of 1.42%. Total value traded through LSE was: £ 6,249,429,649 a change of 34.92%
1/11/2023 FTSE Closed at 7342 points. Change of 0.29%. Total value traded through LSE was: £ 4,632,018,053 a change of -20.08%
31/10/2023 FTSE Closed at 7321 points. Change of -0.08%. Total value traded through LSE was: £ 5,795,517,732 a change of 15.68%
30/10/2023 FTSE Closed at 7327 points. Change of 0.49%. Total value traded through LSE was: £ 5,010,011,648 a change of 25.72%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:ASC Asos** **LSE:AZN Astrazeneca** **LSE:BDEV Barrett Devs** **LSE:CPI Capita** **LSE:QED Quadrise** **LSE:RR. Rolls Royce** **

********

Updated charts published on : Asos, Astrazeneca, Barrett Devs, Capita, Quadrise, Rolls Royce,

LSE:ASC Asos. Close Mid-Price: 397.9 Percentage Change: + 2.10% Day High: 403 Day Low: 386.3

In the event of Asos enjoying further trades beyond 403, the share should ……..

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LSE:AZN Astrazeneca Close Mid-Price: 10230 Percentage Change: -0.45% Day High: 10290 Day Low: 10146

Continued weakness against AZN taking the price below 10146 calculates as ……..

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LSE:BDEV Barrett Devs. Close Mid-Price: 449.7 Percentage Change: + 2.25% Day High: 453.8 Day Low: 437.9

Continued trades against BDEV with a mid-price ABOVE 453.8 should improve ……..

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LSE:CPI Capita. Close Mid-Price: 18.12 Percentage Change: + 0.89% Day High: 18.44 Day Low: 17.68

Continued trades against CPI with a mid-price ABOVE 18.44 should improve ……..

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LSE:QED Quadrise. Close Mid-Price: 1.34 Percentage Change: + 9.84% Day High: 1.4 Day Low: 1.24

Further movement against Quadrise ABOVE 1.4 should improve acceleration t ……..

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LSE:RR. Rolls Royce. Close Mid-Price: 226 Percentage Change: + 0.85% Day High: 227.1 Day Low: 223.7

All Rolls Royce needs are mid-price trades ABOVE 227.1 to improve acceler ……..

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*** End of “Updated Today” comments on shares.

Harbour Energy Plc (LSE:HBR) facing winter storm?

#Gold #SP500 It’s been a year since we reviewed Harbour Energy, a year in which very little of significance has occurred with the share price. This, the largest independent UK oil company, appears capable of ignoring fluctuations in oil prices, the odd war, and shenanigans with Saudi Arabia trying to influence the price of oil. Instead, Harbour has been effectively becalmed.

Perhaps recent news of forthcoming changes in UK licence procedures shall finally provide the impetus for Harbour to do something useful. Apparently, they intend increase capital expenditure and with interests in the United Kingdom, Asia, Africa, and even Mexico, they’ve certainly spread their oily eggs among a lot of baskets and political regimes..

Presently trading around 239p, the share price needs below 229p to risk triggering some reversals to an initial 220p and hopefully a bounce as it once again challenges the level of prior lows. Our secondary, if broken, is at 203p and dangerous, placing the share price in a region where a cycle to an ultimate bottom of 95p could easily commence.

Any attempt to dig the share out of trouble requires the price to exceed Blue on the chart, presently around 259p, to hopefully trigger share price recovery toward an initial 287p with secondary, if exceeded, a longer term 306p.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:09:37PM BRENT 85.08
10:25:53PM GOLD 1978 1977 1972 1962 1984 1989 1992 1997 1981
10:27:59PM FTSE 7425.5
10:30:02PM STOX50 4159
10:32:41PM GERMANY 15138.97 ‘cess
10:35:55PM US500 4366 4343 4333 4319 4370 4375 4505 4640 4347
10:40:14PM DOW 34068
10:42:33PM NASDAQ 15153.08
10:44:53PM JAPAN 32595

 

6/11/2023 FTSE Closed at 7417 points. Change of 0%. Total value traded through LSE was: £ 4,062,204,136 a change of -15.12%
3/11/2023 FTSE Closed at 7417 points. Change of -0.39%. Total value traded through LSE was: £ 4,785,653,725 a change of -23.42%
2/11/2023 FTSE Closed at 7446 points. Change of 1.42%. Total value traded through LSE was: £ 6,249,429,649 a change of 34.92%
1/11/2023 FTSE Closed at 7342 points. Change of 0.29%. Total value traded through LSE was: £ 4,632,018,053 a change of -20.08%
31/10/2023 FTSE Closed at 7321 points. Change of -0.08%. Total value traded through LSE was: £ 5,795,517,732 a change of 15.68%
30/10/2023 FTSE Closed at 7327 points. Change of 0.49%. Total value traded through LSE was: £ 5,010,011,648 a change of 25.72%
27/10/2023 FTSE Closed at 7291 points. Change of -0.86%. Total value traded through LSE was: £ 3,985,095,310 a change of -23.59%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:ASC Asos** **LSE:BT.A British Telecom** **LSE:IAG British Airways** **LSE:OCDO Ocado Plc** **LSE:OPG OPG Power Ventures** **LSE:QED Quadrise** **LSE:RR. Rolls Royce** **

********

Updated charts published on : Asos, British Telecom, British Airways, Ocado Plc, OPG Power Ventures, Quadrise, Rolls Royce,

LSE:ASC Asos. Close Mid-Price: 389.7 Percentage Change: + 4.76% Day High: 393 Day Low: 364

Further movement against Asos ABOVE 393 should improve acceleration towar ……..

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LSE:BT.A British Telecom. Close Mid-Price: 124.2 Percentage Change: + 0.04% Day High: 125.15 Day Low: 123.15

All British Telecom needs are mid-price trades ABOVE 125.15 to improve ac ……..

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LSE:IAG British Airways Close Mid-Price: 149.3 Percentage Change: -0.76% Day High: 153 Day Low: 149.2

All British Airways needs are mid-price trades ABOVE 153 to improve acce ……..

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LSE:OCDO Ocado Plc Close Mid-Price: 530 Percentage Change: -2.25% Day High: 573.6 Day Low: 532.6

Continued trades against OCDO with a mid-price ABOVE 573.6 should improve ……..

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LSE:OPG OPG Power Ventures. Close Mid-Price: 12.5 Percentage Change: + 14.68% Day High: 13.75 Day Low: 10.4

Target met. Continued trades against OPG with a mid-price ABOVE 13.75 sho ……..

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LSE:QED Quadrise. Close Mid-Price: 1.22 Percentage Change: + 6.09% Day High: 1.24 Day Low: 1.1

Above 1.24 calculates with the potential of a lift to 1.49 with secondary, ……..

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LSE:RR. Rolls Royce. Close Mid-Price: 224.1 Percentage Change: + 1.45% Day High: 225.9 Day Low: 220.6

In the event of Rolls Royce enjoying further trades beyond 225.9, the sha ……..

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*** End of “Updated Today” comments on shares.

Barclays Plc (LSE:BARC) and learning patience

#Brent #Dax When Bob Dylan wrote the line; “Speeding like a tumblin’ bullet through a hot New Jersey night.”, personally I thought it’s a bit daft as no sane person would shoot a gun without certainty of achieving target. We’ve a big rule locally; any animal on the shooting range makes it a no fire zone. It’s quite a bit deal, and sometimes disruptive due to red squirrel, deer, wood pigeon all finding it hilarious to parade in front of a frustrated shooter.  Using the gas powered rifle to assassinate a crow or fat pigeon is a big no no.  This is quite a big deal from a personal perspective, designed to keep the range safe and also, so assuage a personal hatred of needlessly killing animals.

Obviously, this personal hysteria dwindles when fishing, as locally, a fish called mackerel appear anxious to be caught. It’s genuinely not unusual to catch more than four of the things at a time but personally, taking more than 20 of the things home is silly as we run out of freezer space. But something funny happened in the garden this weekend while I was fussing with the little red tractor. A movement caught my eye as a large grey coloured rat emerged from below a log shelter.

For every rule, there are exceptions and it transpires rats are my own line in the sand. With indecent haste, after unlocking the gun cabinet, charging the rifle, loading a magazine, the transformation to sharp shooter was complete, sitting on the tractor while watching for the rat to make another appearance.

What the animal didn’t know was years of patience watching the UK’s retail bank sector had provided sufficient reserves of boredom, just waiting for something to happen. In the case of the garden rat, it remained out of sight but the camera which once scanned the front of the house now is positioned at the rear, my phone impatiently waiting for an alert from the movement sensor. Meanwhile, my wife bought some rat poison as she’s working on the basis I shall be too squeamish to pull the trigger, if the monster appears.

 

To get out of their immediate mess, Barclays share price needs close a session above 139p as this should rather neatly eradicate the reversal potentials. Closure above 139p should make surprise recovery to an initial 147p possible with secondary, if exceeded, at 161p and some probable hesitation, judging by the share price history at such a level. Future closure above 161p shall be viewed as quite a big deal, carrying an expectation of share price recovery to 181p and beyond. In the event the market discovers an excuse to gap Barclays up above Blue on the chart, this is almost certain to be a big deal for the longer term as it’s liable to be an early shot signalling proper price recovery.

 

Of course, we’ve an alternate argument, one which is quite painful. Movement now wandering below 129p risks promoting the concept of reversal to an initial 119p with secondary, if broken, at 116p. The proximity of these target levels tends suggest a share price bounce shall be possible, especially as any movement below 116p calculates with an eventual bottom potential at 100p.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop
10:04:12PM BRENT 8508 8438 8394 8273 8541 8675 8714 8806 8552
10:06:09PM GOLD 1992.72
10:12:37PM FTSE 7406.04
10:15:05PM STOX50 4180.6
7:29:39PM GERMANY 15199 15146 15105 15049 15215 15273 15364 15624 15146
7:36:39PM US500 4360.53
7:40:43PM DOW 34063
7:46:08PM NASDAQ 15106
7:52:24PM JAPAN 32738

 

3/11/2023 FTSE Closed at 7417 points. Change of -0.39%. Total value traded through LSE was: £ 4,785,653,725 a change of -23.42%
2/11/2023 FTSE Closed at 7446 points. Change of 1.42%. Total value traded through LSE was: £ 6,249,429,649 a change of 34.92%
1/11/2023 FTSE Closed at 7342 points. Change of 0.29%. Total value traded through LSE was: £ 4,632,018,053 a change of -20.08%
31/10/2023 FTSE Closed at 7321 points. Change of -0.08%. Total value traded through LSE was: £ 5,795,517,732 a change of 15.68%
30/10/2023 FTSE Closed at 7327 points. Change of 0.49%. Total value traded through LSE was: £ 5,010,011,648 a change of 25.72%
27/10/2023 FTSE Closed at 7291 points. Change of -0.86%. Total value traded through LSE was: £ 3,985,095,310 a change of -23.59%
26/10/2023 FTSE Closed at 7354 points. Change of -0.81%. Total value traded through LSE was: £ 5,215,729,676 a change of -2.48%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:AZN Astrazeneca** **LSE:BDEV Barrett Devs** **LSE:BT.A British Telecom** **LSE:CAR Carclo** **LSE:CPI Capita** **LSE:FGP Firstgroup** **LSE:IAG British Airways** **LSE:OCDO Ocado Plc** **LSE:SPT Spirent Comms** **

********

Updated charts published on : Astrazeneca, Barrett Devs, British Telecom, Carclo, Capita, Firstgroup, British Airways, Ocado Plc, Spirent Comms,

LSE:AZN Astrazeneca Close Mid-Price: 10270 Percentage Change: -0.89% Day High: 10364 Day Low: 10162

If Astrazeneca experiences continued weakness below 10162, it will invari ……..

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LSE:BDEV Barrett Devs. Close Mid-Price: 442.4 Percentage Change: + 2.31% Day High: 447.4 Day Low: 431.4

All Barrett Devs needs are mid-price trades ABOVE 447.4 to improve accele ……..

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LSE:BT.A British Telecom. Close Mid-Price: 124.15 Percentage Change: + 5.70% Day High: 123.85 Day Low: 116.7

Continued trades against BT.A with a mid-price ABOVE 123.85 should improv ……..

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LSE:CAR Carclo Close Mid-Price: 10.15 Percentage Change: -0.98% Day High: 10.9 Day Low: 9.5

Weakness on Carclo below 9.5 will invariably lead to 9.25 with secondary, ……..

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LSE:CPI Capita. Close Mid-Price: 17.77 Percentage Change: + 3.01% Day High: 18.25 Day Low: 17

All Capita needs are mid-price trades ABOVE 18.25 to improve acceleration ……..

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LSE:FGP Firstgroup Close Mid-Price: 162.6 Percentage Change: -0.37% Day High: 164.4 Day Low: 160

Continued trades against FGP with a mid-price ABOVE 164.4 should improve ……..

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LSE:IAG British Airways. Close Mid-Price: 150.45 Percentage Change: + 1.86% Day High: 151.7 Day Low: 147.85

Further movement against British Airways ABOVE 151.7 should improve acce ……..

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LSE:OCDO Ocado Plc. Close Mid-Price: 542.2 Percentage Change: + 6.48% Day High: 571.4 Day Low: 508.2

In the event of Ocado Plc enjoying further trades beyond 571.4, the share ……..

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LSE:SPT Spirent Comms. Close Mid-Price: 100.9 Percentage Change: + 2.96% Day High: 102.1 Day Low: 98.05

Continued trades against SPT with a mid-price ABOVE 102.1 should improve ……..

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*** End of “Updated Today” comments on shares.