{"id":914,"date":"2019-04-28T21:38:56","date_gmt":"2019-04-28T20:38:56","guid":{"rendered":"http:\/\/www.trendsandtargets.com\/?p=914"},"modified":"2019-04-29T08:23:25","modified_gmt":"2019-04-29T07:23:25","slug":"rbs-for-29-04-2019","status":"publish","type":"post","link":"http:\/\/www.trendsandtargets.com\/index.php\/2019\/04\/28\/rbs-for-29-04-2019\/","title":{"rendered":"RBS for 29\/04\/2019"},"content":{"rendered":"\n

RBS #DAX #BRENT <\/strong>In \nthe month since our last report, RBS share price has opted to disappoint \neveryone. It achieved our drop target (link \nhere<\/a>) and opted to break below 239p on the initial surge downward. For \nreasons given below, from our perspective this is a really bad thing, breaking \nevery optimistic bone in our computer.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

As regular readers know, over the years we’ve \nhabitually given Primary and Secondary targets, our thinking being if a Primary \nis achieved, after the market has opted to mess around for a while at such a \ntarget level, it will eventually move UP or DOWN to the Secondary target – \ndepending on whether any triggered scenario was for a Long or Short position. \nEventually a fairly important penny dropped regarding our Primary target \npositions. Essentially, if a price breaks the Primary on its initial surge, the \nSecondary becomes almost assured. Whereas, if a price opts to spend a few hours \nteasing a target level but not breaking it, our Secondary position is on thin \nice.<\/p>\n\n\n\n

Quite why it took so many years for this to become \napparent escapes us. It certainly explains some of our self congratulatory \n“Target Met – or near enough” results, these being price movements which fail to \nachieve their secondary levels but come within a spreads width of target. <\/p>\n\n\n\n

Therefore, despite closing Friday at 240p, just above \nour 239p drop target, the share price of RBS achieved a day low of 232.5 and \nthus, we should prepare for the worse. The immediate situation suggests ongoing \nweakness below 232 should bring some reversal toward an initial 219.5p, followed \nby some sort of bounce. It will be worth watching for 219.5 being broken as \n“bottom”, the level from where a real bounce can be hoped, calculates at 202.5p.<\/p>\n\n\n\n

On the chart below, we’ve a notional trend line, \nsomething which dates back 11 years to 2008. We call it notional, ‘cos we’ve not \nbeen convinced it’s a trend the market is paying attention to but the opening \nshare price movement on Friday 26th tended confirm the trend was painfully real. \nThe nice folk who manipulate prices opted to gap RBS rather precisely down below \nthis BLUE line, meaning RBS share price requires close above 243p to escape its \ndoom with a bottom at 202.5p (hopefully). <\/p>\n\n\n\n

Only with closure above 243p dare we take the attitude \nof RBS heading to an initial 268 with secondary, if bettered, a longer term \n291p.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n\n
\n\t

Time Issued<\/font><\/TD>

\n\t

Market<\/font><\/TD>

\n\t

Price At Issue<\/font><\/TD>

\n\t

Short Entry<\/font><\/TD>

\n\t

Fast Exit<\/font><\/TD>

\n\t

Slow Exit<\/font><\/TD>

\n\t

Stop<\/font><\/TD>

\n\t

Long Entry<\/font><\/TD>

\n\t

Fast Exit<\/font><\/TD>

\n\t

Slow Exit<\/font><\/TD>

\n\t

Stop<\/font><\/TD>

\n\t

Prior<\/font><\/TD> <\/TR>\nFUTURES<\/font><\/a>

\n\t

4:34:46PM<\/font><\/TD>

\n\t

BRENT<\/font><\/TD>

\n\t

71.19<\/font><\/TD>

\n\t

71<\/font><\/TD>

\n\t

70.505<\/font><\/TD>

\n\t

69.05<\/font><\/TD>

\n\t

72.95<\/font><\/TD>

\n\t

73.74<\/font><\/TD>

\n\t

74.095<\/font><\/TD>

\n\t

75.24<\/font><\/TD>

\n\t

72.6<\/font><\/TD>

\n\t

Success<\/font><\/TD> <\/TR>\n

\n\t

4:36:47PM<\/font><\/TD>

\n\t

GOLD<\/font><\/TD>

\n\t

1286.25<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

‘cess<\/font><\/TD> <\/TR>\n

\n\t

4:40:22PM<\/font><\/TD>

\n\t

FTSE<\/font><\/TD>

\n\t

7435<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

<\/TD> <\/TR>\n

\n\t

4:42:14PM<\/font><\/TD>

\n\t

FRANCE<\/font><\/TD>

\n\t

5568.7<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

<\/TD> <\/TR>\n

\n\t

4:48:04PM<\/font><\/TD>

\n\t

GERMANY<\/font><\/TD>

\n\t

12312<\/font><\/TD>

\n\t

12234<\/font><\/TD>

\n\t

12207<\/font><\/TD>

\n\t

12168<\/font><\/TD>

\n\t

12315<\/font><\/TD>

\n\t

12325<\/font><\/TD>

\n\t

12343<\/font><\/TD>

\n\t

12379<\/font><\/TD>

\n\t

12273<\/font><\/TD>

\n\t

<\/TD> <\/TR>\n

\n\t

4:59:12PM<\/font><\/TD>

\n\t

US500<\/font><\/TD>

\n\t

2937.82<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

‘cess<\/font><\/TD> <\/TR>\n

\n\t

5:01:09PM<\/font><\/TD>

\n\t

DOW<\/font><\/TD>

\n\t

26521.2<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

‘cess<\/font><\/TD> <\/TR>\n

\n\t

5:03:03PM<\/font><\/TD>

\n\t

NASDAQ<\/font><\/TD>

\n\t

7823.02<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

‘cess<\/font><\/TD> <\/TR>\n

\n\t

5:05:01PM<\/font><\/TD>

\n\t

JAPAN<\/font><\/TD>

\n\t

22325<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

‘cess<\/font><\/TD> <\/TR>\n\n<\/TABLE>\n\n\n\n

26\/04\/2019 FTSE Closed at 7428 points. Change of -0.08%. \n<\/p>\n\n\n\n

Total value traded through LSE was: \u00a3 6,300,902,502 a change of 16%\n\n\n<\/h5>\n","protected":false},"excerpt":{"rendered":"

RBS #DAX #BRENT In the month since our last report, RBS share price has opted to disappoint everyone. It achieved our drop target (link here) and opted to break below 239p on the initial surge downward. For reasons given below, from our perspective this is a really bad thing, breaking every optimistic bone in our … <\/p>\n

Continue reading “RBS for 29\/04\/2019”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-914","post","type-post","status-publish","format-standard","hentry","category-trendsandtargets"],"_links":{"self":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/comments?post=914"}],"version-history":[{"count":1,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/914\/revisions"}],"predecessor-version":[{"id":915,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/914\/revisions\/915"}],"wp:attachment":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/media?parent=914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/categories?post=914"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/tags?post=914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}