Can this AIM tech share really double?

MySquar (LSE:MYSQ)

Zombie movies are not Sci-Fi. Whoever confuses listings by including Zombie rubbish should be taken outside to be eaten by Scottish Midges. Equally, people who use MySQL are not programmers any more than spreadsheet users are software gods.

Two pet hates, one generated by searching Google for info on this share code, the other from trying to find a good Sci-Fi book. Google really wants to pollute its response with MySQL information rather than MySquar Limited PLC results.

Grump over - though we can opinion "One Second After" as a good zombie free read...

MySquar provoked quite a few emails recently, and it visually appears closure above 6p is a prime requisite if planning for future growth. In fact, even closure above 5.75p triggers the law of higher highs and permits some optimism.

Given, at time of writing, the share is trading at 5.89p and has experienced a day high of 6.25p; it's possible by the time the market closes it shall move into happy altitudes, but experience tends suggest it will take a few attempts.

Closure above the 6p point - illustrated with a pink barbed wire line - and we'll tend to anticipate continued growth toward 8p next and some possible stutters. Secondary, if such a point is bettered, comes in at a longer term 10.5p and the guarantee of stutters given it matches the share’s prior high.

There's little doubt folks who've seen their funds take an extended holiday since early 2016 will bail at breakeven rather than risk further entrapment. In fact, this generally becomes a self-fulfilling prophecy.

Only with closure above 10.125p, its prior all-time high, can we admit a distant attraction showing at just under 18p.

Finally, we cannot forget this is the UK market, blessed with a sense of humour and larceny. The current rising cycle was goosed into life when the share was forced above the blue line at 2.9p.

If trouble is coming, weakness below 4.5p would elevate our eyebrows as this allows an initial 3.5p. Then we've a major problem as the secondary calculates at 1p - not only covering the manipulation gap but also trashing the company share price potentials.

If any attempt is made to cover this gap, about the best we can hope is it commences with the price being gapped down at the open, throwing a spanner into our immediate computations.

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, Shareprice, or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

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