Interactive Investor

Domino's Pizza: can the shares reach a new high?

Demand for home delivery puts the franchise in good stead, and shares are nearing record levels.

2nd June 2020 08:43

Alistair Strang from Trends and Targets

Demand for home delivery has put the franchise in good stead, and the shares are approaching record levels. 

Domino's Pizza (LSE:DOM) 

As we get dangerously close to the point when some idiot starts pointing out how many shopping days remain until Xmas, we also have hit a point where the markets start to show some proper recovery potentials.

Domino's Pizza (LSE:DOM), for instance, appear on the edge of quite interesting share price movements.
 
Now the madness of Covid-19 appears to be diminished, Domino's share price looks ready for a further surge. 

Above 365p looks capable of an attempt at 377p next with secondary, if exceeded, a crucial longer- term 433p.

As this represents the potential for a new all-time high, it's also worth mentioning the highest we can calculate works out at a distant sounding 495p.
 
If the price intends to become troublesome, it needs to trade below 317p as this suggests it entering a reversal cycle to 270p with secondary, if broken, at a bottom hopefully at 197p.

Visually, nothing suggests this is a threat.

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. 

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