Surprise rally for Close Brothers could be just the start
Easing fears about the cost of motor finance provisions sent these shares soaring on annual results day. Independent analyst Alistair Strang explains what the charts say.
30th September 2026 07:03
by Alistair Strang from Trends and Targets
It was certainly a surprise seeing Close Brothers Group (LSE:CBG) surge by 15% yesterday on news of continued losses, along with a new figure to settle claims relating to the Motor Finance Consumer Redress Scheme.
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An interesting situation exists for the share price, with the value solidly exceeding the downtrend since 2021 and suggesting a new game may be afoot.
As a result, above 446p looks capable of triggering further gains to an initial 470p and visually some potential hesitation.
Our longer-term secondary works out at 501p which should expose the share to an attraction from a future 554p, along with plenty of visuals which demand a stall in gains as it will match a bunch of highs since 2024. Should such a level be achieved, we shall need to stare hard into our tea leaves again to present a reasonable scenario for the more distant future.
Our alternate scenario, if the current situation turns out to be a trap, suggests below 375p could trigger reversal to an initial 339p with our secondary, if broken, at a probable bottom at 280p.
Fingers crossed, but we suspect Close Brothers shares are going to head upward.
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.
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