Qinetiq: how this share price recovery can keep going
The defence tech company has rallied after its recent tumble. Our chartist looks for more catalysts.
8th April 2020 08:58
The defence tech company has rallied after its recent tumble. Our chartist looks for more catalysts.
Qinetiq Group (LSE:QQ.)
At present, QinetiQ's (LSE:QQ.) share price is trading at 321p and needs below 232p to suggest someone's noticed you can't shoot Superflu germs down with a missile.
Such a triggering movement risks reversal to an initial 201p, along with a doubtless fake rebound.
But should 201p break, the price could easily nosedive down to 136p as bottom, hopefully.
There is a threat below 136p and it's visually quite absurd.
Apparently, should 136p, our ultimate bottom calculation works out at just 9p!
Aside from some exquisite calculations, nothing visually justifies such a result.
Hopefully, the low of 2010 shall provide (if any of this scenario triggers) ample excuse for a rebound, somewhere around the 95p level.
This analysis remains part of our "what if it all goes wrong" series. It's perhaps worth pointing out Qinetiq only needs to trade above 352p to give some hope for the immediate future.
Such a triggering level allows recovery to an initial 393p. If bettered, secondary calculates at a far less likely (in today's environment) of 441p, a new all-time high.
Maybe they shall design a missile which can shoot down a virus!
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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