Charting the uptrend for this AIM share
16th February 2017 09:25
BMR Group
This has been proposed as an ISA candidate and we'd guess something has changed with which shares qualify. We last covered
a month ago, proposing closure above 6.612p would bring growth toward 7.8p, with 8.8p secondary.Guess what, it broke the trend, 'proved' the trend since 2011 was probably real and celebrated by doing very little since!
The current situation appears to have a glass ceiling forming at 7.15p, and it seems sane to suggest any near-term movements above 7.15p should continue to 7.8p, initially, with secondary still at a probable 8.8p.
The thing is, our demand for Higher Highs suggests closure above 8.125p is now absolutely critical for this lot's longer term future, as it moves the price into a big picture range which allows for 12.25p, maybe even 19p if BMR starts producing good news.
For now, it's pretty visually encouraging and the red line on the chart advises the price would need to slink below 5.5p to allow for panic, along with 4p and hopefully a bounce.
The implication of 4p breaking is a pretty unpleasant 0.58p.
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.
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