Analysing odds of Playtech hitting new high
Eight years ago, this gambling stock was trading above 1,000p. Independent analyst Alistair Strang investigates the chances of rallying 26% to those levels again.
8th May 2025 07:35
by Alistair Strang from Trends and Targets
Playtech (LSE:PTEC)'s share price is looking quite encouraging. The company, headquartered on the Isle of Man and traded on the FTSE 250, has become the world’s largest designer, developer, and license keeper for web and mobile software to the gaming industry.
It’s a seriously impressive set of credentials, if their Wiki page is to be believed. The company certainly can boast an impressive CV in the years since their launch.
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Cutting to basics, Playtech's share price needs to close below 650p to spoil our illusions for coming upward movement.
Movement next above 814p should ideally trigger a price surge to an initial 874p with our longer-term secondary, if bettered, at 984p.
Overall, we can calculate an eventual 1,011p as apparently exerting an influence on the share price, rather nastily matching the highs of 2017 and visually providing a great excuse for hesitation.
Essentially, folk whose funds have been on an extended holiday for the last eight years would be expected to bail at break even, providing selling pressure on the share price, creating a stutter in any rise.
For now, we’re fairly optimistic and strongly suspect it shall be worth betting on 984p making an appearance.
Source: Trends and Targets. Past performance is not a guide to future performance.
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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