Trends and Targets's blog

Trends and Targets for 26/11/2015

TUNGSTEN CORPORATION  (LSE:TUNG) mentioned on Interactive couldn't be ignored, if only due to their share code. There's unfortunately only a couple of years trading data against this lot and visually, their chart does not inspire confidence, though it possibly could cure constipation... The issue we have with the share is it was supposed to bounce from a bottom of 37p. Unfortunately, no-one told the price of this important detail and the share has continued to wander off a cliff.

Trends and Targets for 25/11/2015

IOFINA PLC  (LSE:IOF) mentioned on the front page of Interactive, deserves a glance as the share price stinks. What really bothers us is, we'd warned previously of an 'ultimate bottom' against this at 40p and the share spent 2014 poncing around above and below this target level. From our perspective, when "Ultimate Bottom" breaks, it generally means the share is trading in a region with the next drop potential prefaced by a minus sign. When this happens, it will generally become a market plaything and the victim of games with the offered spread, creating illusory Highs and Lows. We're starting to refer to this type of share as a Honey Trap.

Trends and Targets for 24/11/2015

HASTINGS GROUP PLC  (LSE:HSTG) was mentioned on the front page of Interactive, so once again we need not look hard for inspiration. Given the lack of trading record, we're reaching a bit in pretending confidence for its future but we're a little concerned it has not reached, nor bettered, an immediate target of 181.25p. When we view the chart below, this aspiration is the absolute highest the price can go unless, of course, it goes higher! While this logic sounds nonsense, it's something we find important as should the market get this share above such a point, it's a pretty clear signal a desire exists for this to achieve a higher price than movements since 12 October allow.

Trends and Targets for 23/11/2015

MITCHELLS and BUTLERS PLC  (LSE:MAB) starts our week, simply because we notice it was mention on Interactive Investor front page at a moment when we were looking for inspiration.  It's a share which is almost too obviously dangerous as the price broke below RED on Sept 22nd, due to being manipulated below the trend. Generally this is a pretty sane signal of the market wanting a share price down and the implication now is of weakness below 334p starting a track which will almost certainly find a bottom around 265p. Rather more frightening, our secondary is at 212p and visually this makes a heck of a lot of sense if searching for an entry point which almost guarantees a bounce.

Trends and Targets for 20/11/2015

SPECTRIS PLC  (LSE:SCS) completes our week of looking at shares pending news. At time of writing, it is trading in the low 17's and looking pretty dangerous, needing above 1775p to get out of its immediate trouble. This isn't necessarily a bad thing given the point it closed the session on the 19th Nov as anything near term above 1709 suggests near term growth to 1733 with secondary, if bettered, at an immediate downtrend breaking 1781p. As the dashed Blue line shows, this moves the price into a region where it's easy to imagine a scenario where is can recover above RED, its historical uptrend, and grow to a longer term 1940p.

Trends and Targets for 19/11/2015

CALEDONIA INVESTMENTS  (LSE:CLDN) is next on our "News Due" list. Currently it's trading around 2400p and need only better 2449p to signal coming growth to an initial 2538p. Visually this looks quite a sensible movement and we'd tend suspect it will be made in one bound, if triggered. As the chart below shows, this target ambition is interesting as it marginally betters the highs experienced in June of this year and achieving a Higher High is never a bad thing.

Trends and Targets for 18/11/2015

AVON RUBBER  (LSE:AVON) are due some kind of news soon and their chart is a little interesting. One thing which surprised us was we'd an article last year which had proposed this heading to 1167p. The highest closing price this year was exactly 1167p which is pretty encouraging.

Trends and Targets for 17/11/2015

ENTERPRISE INNS  (LSE:ETI) presents a pretty dire picture currently and needs some good news in a hurry. Movements since May have not been confusing - 'they want it down' - and point to the share hopefully bottoming somewhere around 85 to 90p. It most emphatically dare not close below 85p as an all new set of downward pressures come into play and we get to mention 50p with "Ultimate" bottom of 21p. The funny thing is the share is not alone in succumbing to the current market mangle as far too many shares have broken below their ruling uptrend.

But there's a pretty good reason we're not entirely panicked as very few shares breaking trend are experiencing full force reversals.

Trends and Targets for 16/11/2015

MAJESTIC WINE  (LSE:MJW) was one of our favourite shares since the start of 2009. In fact, we used it extensively for a couple of chapters of a forthcoming book as its moves perfectly illustrate what happens when something going right. However, we've ignored it since it achieved our target 582p and aside from now writing, "should MJW manage above 582p again, we expect 708p as our next point of interest", there's not much to add from a positive viewpoint.

Ain't gonna happen anytime soon though.  

Trends and Targets for 13/11/2015

BAe SYSTEMS  (LSE:BA.) completes our week of looking at shares "in the news". Given the royal stuffing experienced by Rolls Royce, we're probably not the only folk casting a wary eye against BAE in case they've some explosive action planned. From our perspective, the share is already underperforming a bit. We'd a high target earlier this year at 559 but the best price achieved was 550. While it may sound impressive, we always prefer an initial target to be bettered as it implies strength in price movements. In reality, it would also have permitted us to discuss the possibility of a longer term 728p but, like a politicians integrity, that potential has vanished for now.

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