A brave new world for JD Wetherspoon shares
Going against the market trend, JD could be fascinating to watch if the trigger criteria is achieved.
12th November 2019 08:46
by Alistair Strang from Trends and Targets
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Going against the market trend, JD could be fascinating to watch if the trigger criteria is achieved.
Wetherspoon (LSE:JDW)
Presently trading around the £15 mark, JD Wetherspoon's (LSE:JDW) share price needs only close a session above 1,615p and we suspect it shall enter a brave new world with interesting potentials.
We can calculate a path commencing to 1,804p but, to be completely fair, the share price shall find itself in a region where "top" cannot be calculated.
As it's one of the few organisations thriving, going against the trend in a market sector which is pretty foul presently, price movements will be fascinating to watch if the trigger criteria is achieved.
For now, we're not terribly confident as the share has broken through this year's uptrend. Despite recent gains, we'd be worried should it break below 1,445p as reversal down to an initial 1,293p makes sense.
If broken, secondary calculates at 1,178p, essentially meeting the uptrend since 2016 and the Brexit vote. Rather fitting, given JDW's Beermats & Brexit drama.
There's a fairly serious issue, should 1,178p break as "bottom" becomes 935p!
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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