Avanti Communications Group (AVN)
Could this penny share be a 'double bagger'?
Avanti Communications Group (LSE:AVN)
This share is a bit of a puzzle. Once trading at nearly eight quid, Avanti (AVN) is now messing around at the 10p level and frankly, by all big picture logic, the price should be in negative figures. When the last straw broke in 2016, we feared the worst!
But it remains trading and better still, recently appears to be taking an interest in life. In honesty, not a lot at present as the price currently requires bettering 57p just to exceed the master downtrend.
But when we draw a line covering the period since the last straw was broken, some hope for the near future is clearly present. To be a bit crude and basic, the share price was gapped up above this particular downtrend. We've even inserted a close up of recent movement. Technically, this takes the price into fingers crossed territory!
We can actually be a little more forthcoming than this as realistically, movement now bettering the high before the trend break - 10.75p - calculates with the potential of 14p making an appearance initially.
Secondary target, if bettered, comes along at 20.5p, a point which if achieved is almost certain to provoke some hesitation, due to some prior behaviour.
It's not like us to propose a "double bagger" without a bunch of mealy mouthed caveats but in the case of Avanti, due to its historical high prices the situation exists of some surprising growth potentials occurring.
About the only sane warning level remains at 6p where, should the price make it below, it presents drop targets prefaced with negative signs.
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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|Bid / Ask||11 / 11.95|
|Day Range||10.97 / 12|
|52Week Range||5.48 / 15.25|
|Last Update: 16:16:16 (23/03/18)|