A share worth keeping an eye on

Qinetiq (LSE:QQ.)

This is a share which generally moves with quite startling integrity. This makes our miserable forecast of weakness below 219p provoking an initial 195p with secondary, if broken, at 150p as something we distrust.

The inset on the chart shows recent share closing price behaviour against the ruling blue downtrend.

The price of Qinetiq (QQ.) only needs to close above the blue line to trash our drop calculations and it seems recent movements are tending to take this blue line into consideration.

To cut to the chase, if QinetiQ manages to close above 231p currently, we’d abandon our immediate drop thoughts and instead anticipate growth toward an initial 238p with secondary, if bettered, coming in at 253p

Perhaps this is worth keeping an eye on in the days ahead as an attempt to regain the long-term red uptrend may be coming.

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, Shareprice, or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. 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.