Technical analysis: Aston Martin, Saga, Lloyds Bank
Our chartist reviews last week's performances and take a fresh look at Aston Martin's potential.
29th July 2019 09:03
by Alistair Strang from Trends and Targets
Share on
Our chartist reviews last week's performances and take a fresh look at Aston Martin's potential.
Last Week, This Week, and Aston Martin (LSE:AML)
As for the markets, thus far Saga (LSE:SAGA) has triggered an upward movement, albeit slowly.
Lloyds Banking Group (LSE:LLOY) on the other hand appears intent on heading to an initial 51.8p, requiring above 58.8p to trash the prospects. And Barclays (LSE:BARC) has done nothing of note, despite their share price appearing more resilient than Lloyds.
Our "FTSE for FRIDAY" proved reliable, with the index comfortably moving to our initial 7,547 points. Thankfully, the market eventually closed the week above this target level at 7,552 points, giving considerable hope for the next few sessions.
The situation now suggests moves above 7,561 points should bring a visit to an initial 7,582 points.
If exceeded, secondary calculates at 7,617 points. Overall, the market needs break below 7,380 points to give early warning it's all about to go wrong.
Aston Martin Lagonda (LSE:AML) share price has certainly taken a tumble. Without going into a lot of boring detail, for some time we'd been calculating a bottom at around the four quid mark.
However, recent reversals cause us to revisit this potential, and now we're showing 539p as bottom. We cannot calculate share price closure below such a point. At present, the price requires to exceed 861p to regain the trend and give optimism. For now, it's less 007 and more Oh Oh.
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.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. 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 Alistair Strang, or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. 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 Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.