AIM-listed Tern shares require little work to get airborne
18th December 2018 08:55
by Alistair Strang from Trends and Targets
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This Internet of Things specialist took a nosedive over the summer, but technical analyst Alistair Strang sees for optimism in the latest the charts.
Tern (LSE:TERN)
It has been a few months since we last reviewed Tern. Similar to UK government efforts, despite quite a lot of kicking and screaming, nothing has happened. Instead, the share price seems trapped in a series of pretend movements. However...
There are early (and faint) indications this hiatus is about to change!
Our downtrend calculations point out blue on the chart is presently at 18.227p. With the aplomb of a Christmas miracle, Tern closed the session on Monday at 18.5p, thus marginally above the immediate downtrend.
Obviously, this cannot ever be taken as a certainty of a rise, but it does give some hope for the fairly near term.
Only if we now see it trading above 20.7p dare we point at an initial target of 23p. If exceeded, secondary calculates at a longer term 28p, perhaps even 29p if fuelled by positive news.
As always with shares, there's a flip side. In the case of Tern, it appears quite distant as the share price will require below 12p to now give alarm, along with the threat of 7.5p.
For now, we're mildly optimistic as this does not require much work to get it airborne.
Source: Trends and Targets. Past performance is not a reliable indicator of future results
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