Trends and Targets for 7/07/2017
FTSE FOR FRIDAY (FTSE:UKX) Thursday proved rather indecisive on the FTSE. At lunchtime, we issued a report which laid out criteria for a drop on the market but some sort of sixth sense kicked in at the last moment. A shorthand note to clients warned should the FTSE better 7331 points, it felt like movement toward 7353 was pre-ordained. To our surprise, the index tripped the scenario and surged to 7354 points.
We're not happy, nor convinced.
This unusual client alert was issued as we were attempting "prove" the day low of 7303 was actually bottom. Depending on how our 7353 target was bettered, it would give ample ammunition to provide future upward predictions. Bettering our target by a single point was less than useful. Here's the problem - moves in the last week have failed introduce encouragement for any surprise upward surge as we're naively hoping to see the index better 7600. Instead, by closing Thursday at 7337 points out the FTSE is trading in a region where anything now below 7300 should provoke an initial 7269 points with secondary, if (when) broken at 7159 points. In theory, if the drop triggers, the market requires better 7354 points to squash the immediate drop potential. This, unfortunately, is the tightest stop loss level. The ideal stop loss would be placed just above a ridiculous sounding 7483 points.
There's a couple of small caveats making us nervous at proposing a full flavoured drop. Currently, apparently the top 20 world leaders are fighting the public around a Hamburger van somewhere in Germany and generally markets hop on the spot during these events. Fans of double bottoms will be eagerly viewing the FTSE as the index has painted 7300 twice recently, needing only above 7387 to make their dreams come true. Private clients are aware we've a slightly different trigger level as we tend prefer that exotic moment when our software stops reporting 2+2=4 but instead reports 4 is now greater than 2+2. However, it certainly appears anything now above 7387 theoretically will prove capable of 7451 next. If bettered, the longer term secondary calculates at 7590 points. And if triggered, stop can be just below 7353 at tightest although 7300 makes an uncomfortable load of sense.
Hopefully the G20 leaders succeed in getting better hamburgers than those usually available at roadside vans. We used to rate them in minutes with a particularly interesting one near Glencoe, Scotland, rated at just 45 minutes. This was the length of time it took to find a toilet following buying one of their offerings. The nearest town, alas, was Fort William which took 50 minutes of blind panic driving...
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
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.
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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:BDEV Barrett Devs** **LSE:EME Empyrean** **LSE:FGP Firstgroup** **LSE:HIK Hikma** **LSE:IHG Intercontinental Hotels Group** **LSE:KAZ Kaz Minerals** **LSE:LLOY Lloyds Grp.** **LSE:RBS Royal Bank Scot** **LSE:SBRY Sainsbury** **LSE:SL. Standard Life** **LSE:STAN Standard Chartered** **LSE:VED Vedanta** **
Updated charts published on : Amerisur, Asos, Barrett Devs, Empyrean, Firstgroup, Hikma, Intercontinental Hotels Group, Kaz Minerals, Lloyds Grp., Royal Bank Scot, Sainsbury, Standard Life, Standard Chartered, Vedanta,
LSE:AMER Amerisur Close Mid-Price: 19 Percentage Change: -2.56% Day High: 19.75 Day Low: 18.5
Further weakness below 18.5 signals 16.5 next with secondary, if broken, a ........
LSE:ASC Asos Close Mid-Price: 5626 Percentage Change: -2.00% Day High: 5899 Day Low: 5581
Target Met. It's supposed to bounce at 5580 as below this now permits an i ........
LSE:BDEVLSE:BDEV Barrett Devs. Close Mid-Price: 592 Percentage Change: + 1.72% Day High: 591.5 Day Low: 582
Above 592 remains pointing at 600 / 701p. Critically, the price has closed ........
LSE:EMELSE:EME Empyrean. Close Mid-Price: 10.88 Percentage Change: + 7.41% Day High: 11.62 Day Low: 10.38
Target Met. Ongoing acrobatics above 11.62 now signal 13p next with second ........
LSE:FGP Firstgroup Close Mid-Price: 121.6 Percentage Change: -0.41% Day High: 122.3 Day Low: 119.3
Below 119 points at 115 as a "must bounce here!" level. As always, we've a ........
LSE:HIK Hikma Close Mid-Price: 1406 Percentage Change: -1.75% Day High: 1447 Day Low: 1407
Target Met or close enough. Now below 1400 points at 1271 and ideally a bo ........
LSE:IHG Intercontinental Hotels Group Close Mid-Price: 4252 Percentage Change: -0.54% Day High: 4307 Day Low: 4207
Below 4207 signals 4192 next but realistically it now appears 4115 should ........
LSE:KAZLSE:KAZ Kaz Minerals. Close Mid-Price: 535 Percentage Change: + 0.56% Day High: 542.5 Day Low: 521
Near term, ^up above 543p looks capable of 551p and a slight stutter until ........
LSE:LLOYLSE:LLOY Lloyds Grp.. Close Mid-Price: 66.68 Downtrend now: 68.264 Uptrend now: 0 Percentage Change: + 1.51% Day High: 66.74 Day Low: 65.37
It's possible there's been a slight change in this lots fortunes as now, a ........
LSE:RBSLSE:RBS Royal Bank Scot. Close Mid-Price: 259.9 Percentage Change: + 1.64% Day High: 261.3 Day Low: 255.6
Target Met. By bettering 260, it appears anything near term above 262p sho ........
LSE:SBRY Sainsbury Close Mid-Price: 248.2 Percentage Change: -1.47% Day High: 252.9 Day Low: 245.9
Target Met. Hopefully it chooses to bounce now as anything above 255 bette ........
LSE:SL.LSE:SL. Standard Life. Close Mid-Price: 407.2 Percentage Change: + 0.94% Day High: 407.4 Day Low: 400.5
Moves near term above 408p remain pointing at 437 with a probable stutter ........
LSE:STANLSE:STAN Standard Chartered. Close Mid-Price: 793.8 Percentage Change: + 0.52% Day High: 796.2 Day Low: 785.6
It appears above 797 aims at 810 initially with secondary a major point of ........
LSE:VEDLSE:VED Vedanta. Close Mid-Price: 712.5 Percentage Change: + 3.04% Day High: 718 Day Low: 686
Now bettering 718 should bring 725 initially with secondary 745 and a high ........
*** End of "Updated Today" comments on shares. Listed below are those where commentary remains valid.
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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!
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About the author
Trends and Targets - a new name, but the same old team of analysts with their magic secret software! Formerly Precogz, they provide Interactive Investor’s clients with daily movement forecasts before trading commences, covering nearly 50 of the most popular traded shares.
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