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MORRISONS PLC (LSE:MRW) Chart price manipulation gaps used to be a touchstone for many traders, all representing a level a price shall return - eventually. The exemption caveat was always "the Game Changer" gap, one where something major provoked a share price revaluation. However, over the last few years we've become increasingly less comfortable with "Gap" theory and feel the UK market now mimics US & Japan with a "it happened, get over it" attitude.

To put it plainly, gap closure is about as reliable as a politicians word!

Morrisons is a case in point. The share price exhibits a very obvious gap in the share price movement table at 193p - this being a point where the stock market woke up one morning and thought, "Stuff it, they're no longer worth 193p - if you want to get some, it'll cost you 203p." Obviously there's always an excuse for these on the fly revaluations of a share price but too often, they leave a bad taste if you were the sucker who sold the previous day after reading some negative comment. From our perspective, sudden changes in a price often will happen with plenty of forewarning. The recent suppository Carillion delivered to investors was not entirely a surprise as we'd been speculating about a drop to 141 since the start of June! (A rather nasty overshoot tho', none the less)

We're now tending ignore gaps in trade patterns - unless they are used to define a new trend by skipping over one of our target prices. In the chart below on Morrisons, this particular gap was employed to better a glass ceiling (a flat trend) with the result we're 'fairly' comfortable what's coming next.

The key number today for Morrisons is roughly 250.338p. If the share price manages close a session above this point, it betters the downtrend since the start of 2012 and enters a cycle toward an astounding 257p. Okay, we'll admit this isn't impressive BUT if 257p is bettered, it sends our software a signal the price is no longer reacting to 2017's pressures but instead is probably being fed on forces since the droop in 2013.

To cut the gibberish, if it betters 257p, we shall be pretty confident it intends 280 initially but the secondary of 320p assumes a high degree of long term comfort for future archaelogists.

What would we define as troubling?

Obviously any reduction in their Gluten Free range would worry us (their own brand Chicken Gujons proved amazing as an emergency "me:cook" snack - not labelled GF but are) but realistically anything (ideally closure) below 228p would prove a nuisance, suggesting the immediate uptrend has failed with the price entering a potential cycle to 205p initially with secondary a hopefully ultimate 172p bounce point. As can be seen, neither ambition pays any attention to the 193p gap.

But for now, it's probably worth watching 250.338 if brave or 257 if sane.

Chart goes here

FUTURES

 

 

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior


9:50:12PM

BRENT

47.05

               

9:52:51PM

GBPUSD /100

128.79

               

9:55:32PM

GOLD

1214.52

1204.21

1198

1176

1233

1233

1241

1253

1217

'cess


9:57:33PM

FTSE

7365

               

'cess


10:00:31PM

FRANCE

5173

               

Success


10:02:56PM

GERMANY

12455

               

Success


10:05:35PM

US500

2426

               

'cess


10:07:36PM

DOW

21409

21337

21319

21276

21433

21448

21497.5

21562

21360



10:09:57PM

JAPAN

20055

               

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:AMER Amerisur** **LSE:ASC Asos** **LSE:BARC Barclays** **LSE:BBY BALFOUR BEATTY** **LSE:CLLN CARILLION PLC** **LSE:EZJ EasyJet** **LSE:FRES Fresnillo** **LSE:GKP Gulf Keystone** **LSE:HSBA HSBC** **LSE:HUR Hurrican Energy** **LSE:IAG British Airways** **LSE:LLOY Lloyds Grp.** **LSE:POLY Polymetal** **LSE:RR. Rolls Royce** **LSE:SL. Standard Life** **LSE:STAN Standard Chartered** **

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Updated charts published on : Amerisur, Asos, Barclays, BALFOUR BEATTY, CARILLION PLC, EasyJet, Fresnillo, Gulf Keystone, HSBC, Hurrican Energy, British Airways, Lloyds Grp., Polymetal, Rolls Royce, Standard Life, Standard Chartered,


LSE:AMER Amerisur Close Mid-Price: 18.25 Percentage Change: -3.95% Day High: 19.25 Day Low: 18

Weakness below 18 signals 16.5 next with secondary, if broken, at 11.5p an ........

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View Previous Amerisur & Big Picture ***


LSE:ASCLSE:ASC Asos. Close Mid-Price: 5837 Percentage Change: + 2.21% Day High: 5942 Day Low: 5719

Target Met. This appears to be playing by the rules as continued oomph abo ........

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View Previous Asos & Big Picture ***


LSE:BARC Barclays Close Mid-Price: 207.7 Percentage Change: -0.22% Day High: 210 Day Low: 206.4

We've been expecting BARC to hit 193 again for an age and it starts appear ........

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View Previous Barclays & Big Picture ***


LSE:BBY BALFOUR BEATTY Close Mid-Price: 257.7 Percentage Change: -3.19% Day High: 265.3 Day Low: 252.7

Target Met. The situation remains of weakness below 252 taking the price t ........

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View Previous BALFOUR BEATTY & Big Picture ***


LSE:CLLN CARILLION PLC Close Mid-Price: 117.1 Percentage Change: -39.04% Day High: 136.8 Day Low: 113.8

Target Met. It managed break our 141 quite nastily and while it will be re ........

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View Previous CARILLION PLC & Big Picture ***


LSE:EZJ EasyJet Close Mid-Price: 1414 Percentage Change: -0.35% Day High: 1440 Day Low: 1413

Target Met. It even beat target suggesting now above 1440 will provoke an ........

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View Previous EasyJet & Big Picture ***


LSE:FRESLSE:FRES Fresnillo. Close Mid-Price: 1430 Percentage Change: + 0.70% Day High: 1436 Day Low: 1377

Target Met. It seems now below 1377 will introduce 1332p with some bounce ........

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View Previous Fresnillo & Big Picture ***


LSE:GKPLSE:GKP Gulf Keystone. Close Mid-Price: 95.12 Percentage Change: + 0.13% Day High: 95.75 Day Low: 94.5

Repeat due to dreadful spelling! One wonders, is GKP the next PPI headline ........

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View Previous Gulf Keystone & Big Picture ***


LSE:HSBALSE:HSBA HSBC. Close Mid-Price: 738.3 Percentage Change: + 1.39% Day High: 741.8 Day Low: 736.4

Now above 742 hints at 760 next with secondary 775p. We suspect 760 will p ........

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View Previous HSBC & Big Picture ***


LSE:HURLSE:HUR Hurrican Energy. Close Mid-Price: 30.5 Percentage Change: + 0.83% Day High: 31 Day Low: 29.5

Target Met. Unfortunately any bounce requires better 34p before we dare ta ........

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View Previous Hurrican Energy & Big Picture ***


LSE:IAGLSE:IAG British Airways. Close Mid-Price: 633.5 Percentage Change: + 0.88% Day High: 637.5 Day Low: 629

Target Met or near enough as above 641 continues to suggest 657 shall prov ........

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View Previous British Airways & Big Picture ***


LSE:LLOYLSE:LLOY Lloyds Grp.. Close Mid-Price: 66.56 Downtrend now: 68.153 Uptrend now: 0 Percentage Change: + 0.05% Day High: 67.08 Day Low: 65.61

Target Met. But truly useless as bettered by 1/100th of a penny! Of course ........

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View Previous Lloyds Grp. & Big Picture ***


LSE:POLYLSE:POLY Polymetal. Close Mid-Price: 866.5 Percentage Change: + 1.05% Day High: 867 Day Low: 827.5

Target Met. Anything now below 827 suggests 810 and again, a hopeful bounc ........

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View Previous Polymetal & Big Picture ***


LSE:RR. Rolls Royce Close Mid-Price: 932 Percentage Change: -0.48% Day High: 940 Day Low: 927.5

Moves continuing ^up above 940 suggest 950 initially with secondary a long ........

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View Previous Rolls Royce & Big Picture ***


LSE:SL.LSE:SL. Standard Life. Close Mid-Price: 407.9 Percentage Change: + 0.57% Day High: 410.2 Day Low: 403.2

Target Met. Now above 411p signals coming oomph to 437 with secondary if b ........

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View Previous Standard Life & Big Picture ***


LSE:STANLSE:STAN Standard Chartered. Close Mid-Price: 812.4 Percentage Change: + 1.20% Day High: 816.4 Day Low: 806

Further growth above 817 suggests moves toward 835 next with secondary 855 ........

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View Previous Standard Chartered & Big Picture ***


*** End of "Updated Today" comments on shares. Listed below are those where commentary remains valid.

Click Epic to jump to share:LSE:AFC AFC Energy** **LSE:AGM Applied Graph.** **LSE:AV. Aviva** **LSE:BDEV Barrett Devs** **LSE:BLVN Bowleven** **LSE:BP. BP PLC** **LSE:BPC Bahamas Pet** **LSE:BT.A British Telecom** **LSE:CAR Carclo** **LSE:CASP Caspian** **LSE:CBUY Cloudbuy** **LSE:CEY Centamin** **LSE:DGE Diageo** **LSE:EME Empyrean** **LSE:EMG MAN** **LSE:FGP Firstgroup** **LSE:FOXT Foxtons** **LSE:GENL Genel** **LSE:GLEN Glencore Xstra** **LSE:HIK Hikma** **LSE:HL. Hargreaves Lansdown** **LSE:IEH Intelligent energy** **LSE:IGAS Igas Energy** **LSE:IGG IG Group** **LSE:IHG Intercontinental Hotels Group** **LSE:IPF International Personal Finance** **LSE:IQE IQE** **LSE:ITV ITV** **LSE:KAZ Kaz Minerals** **LSE:LMI LonMin** **LSE:MKS Marks and Spencer** **LSE:MONI Monitise** **LSE:MOS Mobile Streams** **LSE:NG. National Glug** **LSE:NIPT Premaltha** **LSE:OPG OPG Power Ventures** **LSE:OXIG Oxford Instruments** **LSE:PMG Parkmead** **LSE:PMO Premier** **LSE:POG Petrop etc** **LSE:POL Polo Resources** **LSE:PPC President Energy** **LSE:QFI Quadrise** **LSE:RBS Royal Bank Scot** **LSE:RED REDT** **LSE:RKH Rockhopper** **LSE:RMG Royal Male** **LSE:RTHM Rythm One** **LSE:SBRY Sainsbury** **LSE:SCLP Scancell** **LSE:SDY Speedyhire** **LSE:SGP Supergroup** **LSE:SHP Shire** **LSE:SUMM Summit** **LSE:SXX Sirius Mins** **LSE:TAN Tanfield** **LSE:TCG Thomas Cook Group** **LSE:TLW Tullow** **LSE:TSCO Tesco** **LSE:TW. Taylor Wimpey** **LSE:VEC Vectura** **LSE:VED Vedanta** **LSE:VOD Vodafone** **LSE:VOG VICTORIA** **LSE:WTG Watchstone** **LSE:ZOL Zoldav** **

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Many thanks for taking the time to read this and good luck for today. Please feel free to mention us after something goes right!

 

Risk Warning & Notice to Investors

Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Trends and Targets Ltd, Shareprice, or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.

 

 

 

 

 

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