Mitie shares threaten a 10-year high: what next?
An impressive one-day rally has put this stock within a whisker of beating the previous decade high set in June. Now, independent analyst Alistair Strang runs through his latest chart forecast.
15th October 2025 07:51
by Alistair Strang from Trends and Targets
It looks like our commentary about MITIE Group (LSE:MTO) back in April of this year has proven correct. With the company announcing they were buying back some of their issued shares, the implication is obviously of their petty cash box brimming over. The share price achieved our target levels earlier this year and is now deserving of new analysis, not least due to a happy 14.1% 'up' day.
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There are a couple of important details about the flamboyant gain.
The share price exceeded and closed above the Blue downtrend since 2017. This “may” prove important but, importantly, it neither closed higher than the movements back in June this year, nor did intraday movements exceed the highs of June. While we may be accused of being fussy in our demands for clear signals, we’re certainly a little nervous as to the share price's immediate ambitions, as we really need it above 160p before we shall dare set off a pound shop party popper.
However, from a Big Picture perspective, considerable hope is now justified, share price closure next above 160p calculating as capable of triggering movement to 206p next with our secondary, if bettered, an impressive but logical looking future 266p. Overall, should the price ever close above 200p, we shall view a far distant 367p as being a target price exerting an influence.
Should things intend to go wrong, the share price needs to slither below 135p to cause trouble, risking provoking travel downhill to an initial 113p and hopefully a bounce. In the event such a level breaks, our longer-term secondary calculates at 67p.
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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