Big move imminent for Premier Vet shares?

This share always provides an excuse to publish a snapshot of one of our dogs, a breed commonly known as "the vet's best friend". This is nothing to do with their nature, but rather more an indication of Golden Retrievers' ability to hurt themselves.

Last time we viewed Premier Veterinary Group shares we'd proposed some movement to an initial 180p with secondary, if bettered, at 228p.

As the chart below shows, it achieved our 180p, but failed to actually close above this point.

The interesting situation now proposes movement - even intraday trades - above 180p as heading to an initial 204p with secondary, if bettered, at a more achievable longer-term 228p.

This lot are pretty far from being a popular share, but it appears to follow "the rules" with price moves in the last couple of sessions, allowing for a raised eyebrow.

Currently trading around 165p, it appears the market is making an attempt to kick it upstairs again.

As the red line on the chart highlights, the share needs to fall below 110p to provide alarm, along with the potential of a trip toward 80p. Which, like frequent vet bills, would suck.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. 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.

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.