Interactive Investor

Where next for AIM newbie Supply@Me?

The fintech company has made some recovery since March. Our chartist looks for potential upside movement.

19th August 2020 09:53

Alistair Strang from Trends and Targets

The fintech company has made some recovery since March. Our chartist looks for potential upside movements.

The company, Supply@ME (LSE:SYME) appears to be a new listing, appearing on the market in March 2020.

Instead of a reasonable gain, prior to the price being trashed, the share failed do anything interesting then plunged in value. 

In the last couple of days we've received rather a few emails asking our thoughts on this new listing. 

Generally we prefer rather more than four months of data before expressing any confidence in our findings.

Immediately, the suggestion given is of price growth above 0.9p allowing travel to an initial 1.34p. 

Should the price manage to close above this level, our secondary calculates at 2.14p. 

Both target levels represent new all-time highs for the company and despite us being unable to calculate above 2.14p, if the company is the subject of enthusiastic comment among internet chatrooms, the share price could obviously continue higher.

If it all intends to go wrong, the price presently needs to break below red on the chart, presently 0.5p.

We'd suggest taking a glance at the fundamentals which may prove worthwhile.

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. 

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.