Interactive Investor

New share price forecast for Greggs

Shares returned to favour last month, so our chartist analyses potential for new highs.

4th December 2019 09:05

Alistair Strang from Trends and Targets

Shares returned to favour last month, so our chartist analyses potential for new highs.

Greggs

Our attempt at being funny with a Xmas Calendar has 'kinda' fallen apart with the markets experiencing a truly grotty start to December.

Even Greggs (LSE:GRG), purveyors of future waistline problems, are looking slightly dodgy, despite rumours suggesting they are doing the catering for the NATO lunch at Buck House!
 
It appears anything near term below 2,004p on Greggs should find a bottom, ideally prior to 1,885p.

Should 1,885 break for any reason, the share price "almost" must bounce at 1,839p as the implications below such a level look about as unpleasant as that pie vendor beside the main entrance to Waterloo.

Or to be plain, 1,432p becomes the best hope for surprise recovery, though the Big Picture tells us bottom should end up at 1,020p.

Hopefully, this scenario is unlikely. Painting a picture where a share price halves always feels like a venture into panic mongering.

More hopeful is that any rebound capable of exceeding 2,150p should bring the share price up fast. Initially, we're calculating growth to 2,274p but, visually, our secondary calculation of 2,458p looks very realistic.

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. 

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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