Why Convatec shares look good
Rangebound since last summer, independent analyst Alistair Strang runs his software in search of signs of a possible breakout.
21st April 2026 07:51
by Alistair Strang from Trends and Targets
Since August 2025, Convatec Group (LSE:CTEC)'s share price has done very little other than bob up and down. An email asked that we update our thoughts on the subject, and it’s slightly interesting to note this year's price shuffles have revealed the market appears to be paying attention to the red line on the chart.
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On 8 April, the share price was manipulated (gapped) above this red trend, sending a neat little message that some share price recovery should be expected.
This has created a fairly confident calculation that share price movement next above 245p should trigger price movement to an initial 254p with our secondary, if bettered, at a longer-term 284p.
This longer-term secondary is visually problematic, suggesting some hesitation while the share price matches the high of May 2025 and a bunch of folk respond by creating selling pressure.
However, we should acknowledge share price closure above 284p should reveal a long-term 322p exhibiting itself as an attractive ambition.
Convatec's share price needs below 224p to ring alarm bells, providing the threat of reversal to an initial 200p with our secondary, if broken, at 180p and hopefully a bounce.
But for now, in direct contradiction to our thoughts on Scotland’s weather, we’re pretty optimistic on this share price.
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.
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