A FTSE 100 share worth watching
Independent analyst Alistair Strang examines a share price that has been bubbling upwards since September.
17th December 2024 09:17
by Alistair Strang from Trends and Targets
Weir Group's share price is becoming interesting. Currently, above 2,270p calculates as potentially triggering share price gains to an initial 2,496p with our secondary, if bettered, an impressive long-term 3,016 and a new all-time high, certainly something which makes a lot of visual sense as the share price has been bubbling upwards since September this year.
- Invest with ii: Open a Stocks & Shares ISA | ISA Investment Ideas | Transfer a Stocks & Shares ISA
As a result, we will not be surprised if the share price moves upwards, once market trading conditions allow.
Source: Trends and Targets. Past performance is not a guide to future performance.
For the present, the price would need below 2,170 to trigger latent reversals to an initial 2,014 and hopefully a bounce.
Our secondary, should such a level break, works out at 1,868p and a very possible rebound, along with an urgent need for us to revisit the share price.
For now, we think Weir should prove worth watching.
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.Â
These articles are provided for information purposes only. Â Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. Â 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.