Tritax: why the share price may have further to rise

With demand for online shopping providing a boost for the trust, our chartist is optimistic.

Tritax Big Box (LSE:BBOX) 

We're intending to spend the run up to Xmas digging out some oddball shares which appear to be showing potential. 

At present, the market is pretty firmly split between two classes of share. Those who've recovered from the March Covid-19 inspired drop and those still not recovered. 

Unsurprisingly, Tritax (LSE:BBOX) falls into the former category, the FTSE 250 member specialising in supply of unimaginative Big Box buildings for the distribution market.

Now we think about, it was inevitable these massive logistics centres, which seem to grow alongside motorway junctions, could probably be bought from a catalogue! 

Tritax call themselves the UK's leading investment company focussed on larger scale logistics real estate. 

With the switch to online shopping, there's a pretty certain increase in demand for this sort of unit while conventional retail establishments shut down across the UK.

As mentioned, Tritax’s share price already exceeds the level attained prior to the Coronavirus drop and currently displays the potential of some useful price movements in the future. 

Presently trading around the 165p mark, the share need only exceed 172p to hopefully confirm an ambition of growth to an initial 195p. 

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If bettered, it shall be hard to discount the chances of a future 217p making itself known at some point.

Overall, the highest we can calculate works out at 239p and obviously, this does not mean the price cannot go higher. Instead, we shall need revisit the tea leaves to see beyond such a level.

If it all intends to go wrong, Tritax’s share price needs to slip below 139p to suggest panic, along with the risk of reversal toward 113p and hopefully a bounce.

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.