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SAN Leon Energy (SLE)
FTSE 100's next upward trigger
By Alistair Strang | Fri, 16th September 2016 - 08:52
Privately, we've been expecting the market to bottom around 6,550 points, but it has not triggered the final drop criteria by wandering below 6,650. Instead, it looks possible we shall witness some near-term growth as anything now above 6,745 looks capable of reaching 6,790 on the immediate movement cycle.
Amazingly, the secondary calculates at 6,903 - why does that number keep appearing? But the ruling downtrend for September looks like interfering around the 6,800 level.
As always, we would remind you these numbers refer to the FTSE, not the futures market.
San Leon Energy
As we had suspected, following our last update, San Leon (SLE) managed to relax to our initial drop target at 44p and the scenario remains of weakness below 44p leading to 39p next. Secondary is a presumably longer-term 31p. We're not too confident about the secondary.
Those who've been reading our column this week will be aware of our drivel about "spikes". We suspect if the price intends a bounce, it shall ideally happen just before 39p, as the price reacts to the spike on 30 August.
The alternate is now of movement above 50p bettering the immediate downtrend, allowing for an initial 55.5p with secondary 61p. Or even 68p!
This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
|Bid / Ask||24 / 25|
|Day Range||24 / 25.082|
|52Week Range||17.75 / 59.00|
|Last Update: 17:07:54 (03/11/17)|