Can Liberty F1 shares keep racing higher?
The shares are recovering after going off-track during the crash, but our chartist is confident.
28th May 2020 08:54
The shares are recovering after going off-track during the crash, but our chartist finds reason for confidence.
Liberty Formula One Group (NASDAQ:FWONA)
Despite our pretty downcast attitude to Formula 1, Liberty Formula One Group (NASDAQ:FWONA) appear to have a share price enjoying some considerable hope for the future.
The immediate price cycle looks capable of trades above $35.3 bringing an initial $37 with secondary, if exceeded, a more useful $43.75.
The secondary target level is visually believable, returning the price to the pre-Covid-19 level.
We would be inclined to watch carefully around such a level for signs of the price being manipulated (gapped) upward at the open as this shall tend to suggest the market intends to explore new highs.
If this is indeed the case, we can project a maximum currently at $56 eventually.
If it all goes wrong, the price needs break below red at $27 presently. This risks extreme danger, taking the share price into a zone where reversal to $13 is possible with secondary, if broken, at an ultimate bottom of $7.
For now, there is quite a strong impression of confidence.
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.
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.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
Editor's Picks