Harworth shares are one to watch
It's been a great six months for this land and property regeneration company, but what next? After running his charts, independent analyst Alistair Strang shares his conclusions.
19th March 2024 07:44
by Alistair Strang from Trends and Targets
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Harworth Group (LSE:HWG)'s share price recently did something mildly interesting, perhaps carrying the suggestion of some positive share price movement in the fairly near future.
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Trading around 134.5p currently, the share needs to exceed just 136.5p to hopefully trigger movement to an initial 144p with our secondary, if exceeded, at a longer term 160p.
To be fair, we can provide a third level ambition for a distant 177p but it’s difficult to work up any enthusiasm for such a target.
Should everything intend to go horribly wrong, the share price needs below 103p to give the first inkling of serious trouble. Movement such as this risks triggering reversal down to an initial 83p with our secondary, if broken, a less likely longer term 58p.
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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