FirstGroup shares reach critical level
They've staged an incredible recovery to a 13-year high, but can they go go even higher? Independent analyst Alistair Strang reveals what his charts say.
9th July 2025 07:45
by Alistair Strang from Trends and Targets
We reviewed FirstGroup (LSE:FGP) back in March, giving a long-term target price level of 239p. In recent days, it has achieved 238p and stalled, carefully avoiding threading its way above 239p and we suspect this may prove quite critical.
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One of our favourite signals is triggered, when a share price exceeds one of our target levels on the first lunge but, in this instance, the path from 183p to our 239p hasn’t exactly been a success as the market appears to have designated 238p as a ceiling. While this could be a data calibration error on our part, we’re not entirely convinced.
The immediate situation now looks like movements above 238p should provoke a visit to 241.5p, not the most profitable leap in a share price. But in the event FirstGroup's price manages above 241.5p, things become more interesting as movement to an initial 282p looks possible with our longer-term secondary, if bettered, a very useful 413p, a price level not seen since 2010.
To cut to the chase, we now regard it as the case this share price must close above 241.5p to signal a sea-change in the share price potentials. Here’s hoping as FirstGroup has been visually parked for the last 10 years.
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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