FTSE for Friday: charts hint at 200-point gain
The blue-chip index is on track to end the week higher, and independent analyst Alistair Strang's chart suggests there could be further gains ahead.
16th May 2025 07:37
by Alistair Strang from Trends and Targets
Some optimism is the order of the day for the FTSE 100. Apparently, above just 8,635 points risks promoting the concept of a gain to an initially tame 8,656 points, a fairly tepid ambition but the sort of thing possible in the market's opening second.
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Our secondary, should 8,656 be exceeded, works out at 8,700 points and the prospect of fireworks, dumping the index into a zone where a future 8,885 becomes regarded as exerting magnetic attraction.
Our converse scenario, if things intend to go wrong, proposes weakness now below 8,500 points risking trouble, suggesting the potential of a dive down to an initial 8,347 points, perhaps ever our secondary at 8,178 if the initial target breaks. Visually, nothing suggests any such potential.
Have a good weekend.
Source: Trends and Targets. Past performance is not a guide to future performance.
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.
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