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International stock news

Rss Today on Proactive AU

2014-08-02

S&P 500 has worst week in two years

 
U.S. stocks trimmed losses substantially by late Friday afternoon as investors digested mixed economic reports and comments from two Fed speakers, following a sharp fall for stocks on Thursday. Gold jumped 1%. The ASX SPI 200 is off 26 points to 5473.
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Rss Today on Proactive UK

2014-08-02

Tethys Petroleum, Not much work to do!

 
By Alistair Strang, Trends and Targets  I’ve had a few emails asking about this lot and thankfully, it’s an easy one as it’s one of ‘mine’, LSE:TPL being a share covered in our daily market report for clients.  To get the bad news out of the way first, it’s regarded as heading to a bottom of 4.25p but thankfully, unlike many shares in such a predicament, it doesn’t need do much to escape the path. But in fairness, if there ever were a time for a company to issue positive news, anytime now would be good.  At time of writing, the share is trading around the 20p mark and needs only CLOSE above just 21.5p or trade during the session above 22.75p to indicate coming growth to an initial 26p. My secondary target, should such a point be bettered, is at 29p. This sort of thing would be fairly significant as the chart shows. Firstly, the price would be elevated above the immediate BLUE downtrend and secondly, such a motion would indicate ‘bottom is in’ and future growth can commence.  There’s no doubt this share has potentials for the longer term but it must somehow find the impetus to get above the trend – currently at 23.25 – to move the price out of its current danger zone. Make no mistake, this is not trading in a happy place as, in the event of negative company news or filthy market conditions, there’s a very real risk of the price visiting our 4.25p. I would tend to regard anything causing the share to CLOSE below 17.25p as the last straw.     So, with all this doom and gloom, what do I think is about to happen?  I was relatively impressed at the point the share closed JULY as it tends to signal near term movement (perhaps by the time you read this) to 21.75p. This is fairly useful, taking the price into a region where closure above 21.5p is possible and thus, capable of triggering a breakout motion. As a result, this is probably a good time to indulge in the professional traders strategy of crossing ones fingers. I’ve opted to show the long term recovery tier of target levels but please remember, absolutely none of them are viable until the price simply closes a session above that blue line. Simple!  As usual, please get in touch with requests for this column Alistair  
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Rss Today on Proactive US

2014-08-02

Dow narrows losses after mixed data; LinkedIn jumps

 
U.S. stocks trimmed losses substantially by late Friday afternoon as investors digested mixed economic reports and comments from two Fed speakers, following a sharp fall for stocks on Thursday. 
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