Could you clean up with McBride shares?
This small-cap share has soared in recent weeks and could do even better, according to independent analyst Alistair Strang.
22nd November 2023 07:51
by Alistair Strang from Trends and Targets
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First, a quick update on the Phoenix Group Holdings (LSE:PHNX) share price, which has enacted something quite interesting. We covered the share three weeks ago, and now the market has indeed opted to gap the price back up above Red on the chart.
We shall revisit the share during December.
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Source: Trends and Targets. Past performance is not a guide to future performance.
McBride
McBride (LSE:MCB) is quite an impressive company. Everyone uses their products but, due to rebranding for whatever company label is being stuck on the product, remain anonymous. It was surprising to note their cleaning products are supplied through 49 out of 50 of Europe’s top grocery retailers.
Their share price has enjoyed a pretty dire journey since 2017 but recently has started to exhibit some signs of it coming alive again.
During October, the share price was gapped up above an arguable downtrend, the movement suggesting growth exceeding 64p should make an attempt at an initial 80p with secondary, if bettered, at a longer term 108p. It could perhaps even manage 150p thanks to the massive gap down in 2019 utterly skewing the numbers.
We’re fairly happy about the prospects of a future 80p but suspect we shall need to revisit the numbers once such a level is attained.
The share price needs below 38p to utterly foul up our numeric predictions.
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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