What next for an AIM share up a third this year?
After a strong year, this company has attracted the attention of independent analyst Alistair Strang. Here's what his charts say about prospects.
10th September 2024 07:32
by Alistair Strang from Trends and Targets
A small alert appeared in our end of day data run, introducing a company we’ve never looked at and suggesting it may be worth a glance from our perspective. A visit to AIM-listed Craneware (LSE:CRW)'s website reveals it appears to supply billing and accounts software for the US medical industry.
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However, their share price has venerated the uptrend since 2023 and now looks poised to continue some positive action, despite gibberish on their website only decoded by insiders. Then again, an honest sentence which said something like “we exist to maximise the amount hospitals can charge insurance companies in the US” may not have quite the poetic ring used on their website.
Their share value certainly looks like it has the potential to bring further growth to the price, potentially matching the all time high above 3,500p in 2018.
Currently, above just 2,415p implies an initial target of 2,449p with our secondary, if bettered, a surprisingly useful 2,723p sometime in the future. While the concept of such a target may sound quite impressive, our third level target calculates at 3,401p and almost certain hesitation, given it matches the highs of 2018.
Our converse scenario, if things intend go wrong, allows below 2,290p to trigger reversals to an initial 1,947p with secondary, if broken, at a bottom of 1,765p.
For now, we’re inclined toward a positive opinion on Craneware.
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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