Can Sainsbury's shares make it back to 300p?
They've recovered well from last month's tariff crash low, and independent analyst Alistair Strang's charts could be cause for further optimism.
1st May 2025 12:55
by Alistair Strang from Trends and Targets
Sainsbury (J) (LSE:SBRY) and Tesco (LSE:TSCO) are predicting a supermarket price war, the next phase in their desperate attempts to regain custom lost due to the price gouging which has occurred in the post Covid years. On a brighter note, Sainsbury's shares appear to be on the edge of becoming useful.
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Currently, above 270p should apparently trigger a surge in the direction of an initial 286p with our secondary, if bettered, at 296p. From our perspective, the share price would be attracted from a long-term 330p, once again matching a series of all-time highs since 2017.
If things intend to go wrong, below 246p would now prove troubling, entering a cycle to an eventual "bottom" at 198p.
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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