Games Workshop and the odds of a return to highs
Down around 20% from the peak in June, independent analyst Alistair Strang has another look at the shares following success with his previous call.
15th September 2026 06:58
by Alistair Strang from Trends and Targets
In full disclosure, we don’t “get” Games Workshop Group (LSE:GAW) and their focus on Warhammer and associated products. However, we certainly awarded ourselves a pat on the back from our previous review of the shares.
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We’d proposed a target level just over £22 and the share price obliged. Unfortunately, it has failed to close above our 22,128p target, paying a deadly price in the months since. The situation now exists where some trouble may be ahead.
Source: Trends and Targets. Past performance is not a guide to future performance.
From an immediate perspective, it seems trades below 17,060 should trigger reversal to an initial 16,800p. Our longer-term secondary, if broken, calculates with a bottom down at an eventual 14,972p and a potential rebound. We have reasons to be reticent about price reversals on the current cycle, suspecting the market intends some surprise gains.
Unfortunately, the share price needs to exceed 18,600p to suggest gains are about to kick off, giving an initial target around 22,239p with our secondary, if beaten, at 23,994p.
Achieving such target levels shall be regarded as significant, allowing us to speculate a long-term influence is being exerted from 26,816p!
Who knows, perhaps there’s something to Warhammer?
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.
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