Interactive Investor

Braemar shares about to sail north?

This share has held onto most of its post-Covid recovery, although progress is currently slow. However, with results out today, independent analyst Alistair Strang looks at potential for that to change. 

29th November 2023 07:32

Alistair Strang from Trends and Targets

Braemar (LSE:BMS) experienced a few months of share suspension due to an historical accounting anomaly which was felt would affect their published accounts. Matters have been resolved and the shares started trading again a few days ago. They published half-year results today, and their share price certainly looks poised for some action.

At time of writing, the share is trading at 290p, needing above 292p to hopefully prompt recovery to an initial 310p and a challenge against the downtrend since 2014.

To be honest, this is one of these occasions where we’d be delighted to witness the share price gapped upward at the open of trade, creating a rather perfect “Gap Down/Gap Up” situation, one which should prove capable of provoking future movements to 342p, with our longer term influence seen as coming from a future 388p and some probable hesitation.

Similar to the weather in Braemar, this is one of these occasions where anything could happen in the next few hours! The price would need to wander below 230p (Red) to justify anxiety.

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.

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 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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