Trends and Targets for 6/07/2017

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SPORTS DIRECT (LSE:SPD) Mr Ashley appears anointed with similar levels of adulation the media reserve for Mr Trump, Mr Corbyn, Brexit voters, or the Scottish Govt. It creates a situation where we tend filter out "white noise" styles of opinion masquerading as reporting. His appearance in the news this week demanded a further look at the company share price potentials tho' as there's always a risk the people crying wolf will finally be right about something.

Perhaps not this time.

Sports Direct share price has been essentially flatlining for a while, keeping us muted on future potentials. We can isolate a few trend lines which, if exceeded, will tend signal the direction the market intends take the share.

First, along the bottom of the chart is a discreet RED line. As is our preference, we've started this line from the most recent point of market manipulation (gap circled) as it indicates clearly SPD needs below 280p currently to justify the purchase of running shoes. After all, the share price has respected this trend with amazing clarity and it results in the situation where we need consider weakness below 280 driving the price to 240p initially with secondary, if broken, at 209p.

It's worth remembering we're not the only folk able to wield a RED crayon. When we witness such a neatly defined uptrend, we harbour an expectation the market will exhibit a fake drop prior to any rise and it provokes the conclusion we'd need see Sports Direct below 260p - the low following the start of the trend - before we'd dare assume any weakness below RED is actually valid. The market is perfectly capable of throwing a scare into people prior to any rise, something worth remembering.

After all, who'd complain at picking up some cheap shares due to a fake drop?

Identifying a rise is somewhat harder as we've a plethora of trends to select.

The most obvious - Dark Blue - currently demands SPD better 304.25p before any rise is considered serious. The more likely, Dashed Blue, suggests the price requires above 318p currently and the Light Blue one hints 333p is the key number to be bettered. This nonsense creates a cascade of reasons for taking a blooming hard look at near term potentials. Firstly, the most obvious signal should be movement above 301.5 as this is supposed to generate growth to 320p initially. At this point, it all gets a bit interesting as we'd require the share price to actually CLOSE a session above Dashed Blue prior to showing enthusiasm for the future. If it does, we're calculating a visit toward 365p further in the future.

With a movement like this, we can start speculation of some real price recovery as it becomes fairly easy to view 600p as presenting a seriously longer term attraction.

But for now, it's stuffed, tying itself in knots on a straight line. And do remember our warning about a probable fake droop prior to any growth.

Chart goes here

 

 

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:46:37PM

BRENT

48.38

               

Success

10:49:07PM

GBPUSD /100

129.31

               

'cess

10:51:06PM

GOLD

1227.5

1217.29

1213.395

1208.3

1225

1230

1234.3

1240

1224


10:54:07PM

FTSE

7378

               

10:55:37PM

FRANCE

5192.2

               

10:57:39PM

GERMANY

12483

               

Success

10:59:29PM

US500

2429.83

               

'cess

11:01:48PM

DOW

21471.8

21401

21367

21326

21490

21490

21511

21548

21401

'cess

11:03:52PM

JAPAN

20090

               

'cess

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 [email protected] 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:BDEV Barrett Devs** **LSE:EME Empyrean** **LSE:FRES Fresnillo** **LSE:GLEN Glencore Xstra** **LSE:HL. Hargreaves Lansdown** **LSE:KAZ Kaz Minerals** **LSE:LLOY Lloyds Grp.** **LSE:NG. National Glug** **LSE:PMO Premier** **LSE:SL. Standard Life** **LSE:VED Vedanta** **LSE:VOG VICTORIA** **LSE:ZOL Zoldav** **

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Updated charts published on : Barrett Devs, Empyrean, Fresnillo, Glencore Xstra, Hargreaves Lansdown, Kaz Minerals, Lloyds Grp., National Glug, Premier, Standard Life, Vedanta, VICTORIA, Zoldav,


LSE:BDEVLSE:BDEV Barrett Devs. Close Mid-Price: 582 Percentage Change: + 2.74% Day High: 582.5 Day Low: 574.5

Above 583 remains pointing at 600 / 701p. Critically, the price has closed ........

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View Previous Barrett Devs & Big Picture ***


LSE:EMELSE:EME Empyrean. Close Mid-Price: 10.12 Percentage Change: + 15.71% Day High: 10.12 Day Low: 8.62

Now above 10.25 can generate an initial 11p with secondary 14.5p.

The s ........

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View Previous Empyrean & Big Picture ***


LSE:FRES Fresnillo Close Mid-Price: 1472 Percentage Change: -0.74% Day High: 1486 Day Low: 1439

Below 1439 suggests 1396 next with secondary a very possible 1332p.

The ........

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View Previous Fresnillo & Big Picture ***


LSE:GLENLSE:GLEN Glencore Xstra. Close Mid-Price: 307.4 Percentage Change: + 1.25% Day High: 313.55 Day Low: 303.95

Up above 314p still suggests 324p shall prove a viable ambition. Secondary ........

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View Previous Glencore Xstra & Big Picture ***


LSE:HL.LSE:HL. Hargreaves Lansdown. Close Mid-Price: 1276 Percentage Change: + 0.79% Day High: 1278 Day Low: 1258

A share mid price of less than 1258 suggests 1224 with secondary a probab ........

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View Previous Hargreaves Lansdown & Big Picture ***


LSE:KAZ Kaz Minerals Close Mid-Price: 532 Percentage Change: -0.37% Day High: 542 Day Low: 524.5

Near term, up above 542p looks capable of 551p and a possible stutter unti ........

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LSE:LLOY Lloyds Grp. Close Mid-Price: 65.69 Downtrend now: 68.291 Uptrend now: 0 Percentage Change: -0.95% Day High: 66.62 Day Low: 65.35

The situation remains of weakness below 65.35 bringing 65.2 initially with ........

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View Previous Lloyds Grp. & Big Picture ***


LSE:NG. National Glug Close Mid-Price: 940 Percentage Change: -0.21% Day High: 943.3 Day Low: 930.4

Target Met. Below 930 remains pointing at 883 tho' it now appears a bounce ........

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View Previous National Glug & Big Picture ***


LSE:PMO Premier Close Mid-Price: 50.25 Percentage Change: -5.63% Day High: 53.75 Day Low: 48.75

Chart updated: Below 42 remains pointing at 40p as a probable bounce point ........

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LSE:SL.LSE:SL. Standard Life. Close Mid-Price: 403.4 Percentage Change: + 0.52% Day High: 405.1 Day Low: 399.4

SL has started to get slightly interesting. Moves near term above 406p rem ........

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View Previous Standard Life & Big Picture ***


LSE:VED Vedanta Close Mid-Price: 691.5 Percentage Change: -0.65% Day High: 712.5 Day Low: 682

Now bettering 713 should bring 725 initially with secondary 745 and a high ........

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View Previous Vedanta & Big Picture ***


LSE:VOGLSE:VOG VICTORIA. Close Mid-Price: 54.62 Percentage Change: + 13.21% Day High: 60 Day Low: 49.25

Target Met. Now above 60 suggests a degree of stutter at 65 but realistica ........

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View Previous VICTORIA & Big Picture ***


LSE:ZOL Zoldav Close Mid-Price: 17 Percentage Change: -2.86% Day High: 17.5 Day Low: 17

This is starting to stink rather a lot. Below 17p now signals the potentia ........

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View Previous Zoldav & 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:AMER Amerisur** **LSE:ASC Asos** **LSE:AV. Aviva** **LSE:BARC Barclays** **LSE:BBY BALFOUR BEATTY** **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:CLLN CARILLION PLC** **LSE:DGE Diageo** **LSE:EMG MAN** **LSE:EZJ EasyJet** **LSE:FGP Firstgroup** **LSE:FOXT Foxtons** **LSE:GENL Genel** **LSE:GKP Gulf Keystone** **LSE:HIK Hikma** **LSE:HSBA HSBC** **LSE:HUR Hurrican Energy** **LSE:IAG British Airways** **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:LMI LonMin** **LSE:MKS Marks and Spencer** **LSE:MONI Monitise** **LSE:MOS Mobile Streams** **LSE:NIPT Premaltha** **LSE:OPG OPG Power Ventures** **LSE:OXIG Oxford Instruments** **LSE:PMG Parkmead** **LSE:POG Petrop etc** **LSE:POL Polo Resources** **LSE:POLY Polymetal** **LSE:PPC President Energy** **LSE:QFI Quadrise** **LSE:RBS Royal Bank Scot** **LSE:RED REDT** **LSE:RKH Rockhopper** **LSE:RMG Royal Male** **LSE:RR. Rolls Royce** **LSE:RTHM Rythm One** **LSE:SBRY Sainsbury** **LSE:SCLP Scancell** **LSE:SDY Speedyhire** **LSE:SGP Supergroup** **LSE:SHP Shire** **LSE:STAN Standard Chartered** **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:VOD Vodafone** **LSE:WTG Watchstone** **

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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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