Man Group shares are worth watching
Already approaching prices rarely seen in the past 14 years, shares in this asset manager could do even better, according to independent analyst Alistair Strang.
16th April 2024 07:39
by Alistair Strang from Trends and Targets
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Man Group (LSE:EMG)'s share price hasn’t been achieving anything of great interest but recent price movements in relation to the downtrend since 2008 are perhaps of note, maybe even indicative of happier days ahead.
Currently, above 280p should trigger a change in fortunes, calculating with the potential of a lift to an initial 293p with our secondary, if exceeded, working out at a longer term 350p.
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Unusually, and something worth watching for with this particular share, will be closure above 283p signalling the share price closing above the circled high which comprises part of the 2008 downtrend. This shall be regarded as quite a big deal for the long term, indicating the share price has eased a toe over the starting line for further long-term recovery where a distant (and impossible looking) 551p calculates as possible.
Perhaps it’s not as unlikely as we’re suggesting, given the company claims to be trading in over 800 markets around the world.
If things intend to go wrong, we’d regard weakness below 252p as troubling, risking promoting reversal to an initial 240p with secondary, if broken, at 227p.
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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