Shares in AIM star Tern should bounce at this price
12th October 2018 09:08
by Alistair Strang from Trends and Targets
This Internet of Things specialist saw its share price surge 20 times in just four months earlier this year. Alistair Strang examines where they could bounce next. He also looks at FTSE's recovery potential.
Tern PLC (LSE:TERN)
Our 'FTSE for Friday' guru, remains unavailable. However, we're still able to use our software, suspecting the market has potentially shown itself as bottoming. As a result, we're looking for upward indications on the FTSE.
If, on Friday, the index stumbles above 7,091 points, recovery to an initially tame 7,121 makes sense. If bettered, secondary is at 7,178 points. Stop can be at 7,032 points.
However, we've been emailed about Tern and admit the share exhibits some interesting potentials.
The immediate cycle calculates with ultimate bottom of 7.75p. It also offers the opinion the price dare not close below 7.5p as all future targets come decorated with minus sign prefix's.
In plain English, the suggestion is for a bounce anytime now. Any rebound taking the share price above just 17p should prove capable of an initial 24.5p. The visuals hint at a stutter as such a level.
But with closure above 24.5p, we're calculating a strong secondary of 38p before we require to recalculate the future...
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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