This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
My colleague Sam got a huge response to his offer last week of help during earnings season. And that’s because he touched on an important subject that affects every trader at some point and goes to show that the devil is indeed in the detail. If you missed his musings or need reminding of what he said, see here.
Which got me thinking – what else do you as a trader want in terms of simple back-to-basics assistance to ensure you can navigate the markets profitably? There is plenty of news and events keeping markets moving but, all said and done, what you really need and want help with is levels. Be it on stocks, indices, commodities or currencies. After all, these are what help you make those important trading decisions to buy or sell.
Which brings me to Accendo’s most successful publication. Our analysts have done some sterling work this week with our Morning Report which, apart from being renowned by both clients and journalists for its linkage of global events and cross-asset market moves, highlighted some key levels on several occasions. Even if you only read the first paragraph you’re getting great value as it always looks at the UK’s UK Index index and the levels above and below which it could turn bullish and rise, or bearish and fall. Some clients are content to know just these levels each today.
On return from the bank holiday weekend, Tuesday’s report saw Mike and Gus correctly call a breach of 6255 as kicking off May’s downturn and an index decline of 100pts. This was backed up Wednesday by the pair highlighting a UK Index break below 6170 as starting a second leg south and another 100pt drop close to April lows. And we have their expertise in technical/charting analysis to thank for that one after they correctly spotted a ‘bearish narrowing pattern’. Right, that’s 200pts for you. From just two levels. A 3% return in just a couple of days.
Knowing these levels also helps to know how individual stocks may be faring, given the index is an aggregate of the UK’s 100 biggest listed companies. If the index delivers a breakout or breakdown, it could well be the case that some of these big stocks are doing something similar. Double the help! Again, from just two numbers.
Which obliges me to ask whether you, the trader, are currently benefiting from such a service? If not, then why? Do you not think you should? I’m sure you can see the value in checking that first paragraph for those two numbers each morning. Even if you don’t read the rest. It’s 30 seconds very well spent to set you up for the trading day.
And if that’s how Accendo’s research starts, imagine how good the rest of it is. Actually, why waste time imagining? Access the research here and you’ll wonder how you ever traded without it.
Have a great weekend.
Amrit Panesar, Senior Trader, 6 May
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research
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