IMI may be warming up
Independent analyst Alistair Strang believes this FTSE 100 company's share price is starting to look fairly useful, with some potential for growth.
9th January 2025 08:10
by Alistair Strang from Trends and Targets
This is a company with a fascinating pedigree, spun out of ICI in 1962 and finally achieving full independence in 1978. Nowadays, they’re the leading manufacturer of thermostatic radiator valves, along with other magic involving using metals to do something useful.
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IMI is involved in rather more than radiator valves, their website showing quite an intimidating range of activities. And its share price is starting to look fairly useful in the coming months, showing some potential for growth.
Currently, above just 1,873p should trigger movement to an initial 1,916p with our longer-term secondary, if bettered, working out at an interesting 2,011p. This secondary is “interesting”, representing a new all-time high where a distant ambition of 2,265p becomes expected, a price level where some hesitation feels inevitable.
If things intend to go wrong, the share needs below 1,675p as this threatens reversals to an initial 1,604p with our secondary, if broken, at 1,513p 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.
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