Reneneuron Group (LSE:RENE)
Share price movements here risk proving similar to the new Marvel Avengers movie, essentially incomprehensible and capable of leaving those involved somewhat underwhelmed. Why didn’t they mention the film was Episode 1 of a series?
Against Reneuron (RENE), we’re able to calculate a bottom at 25.75p, this hopefully providing the end game for a series of share price movements with similar plot difficulty to the aforementioned film. Below 25.75p and we’re not able to calculate a bottom without prefacing the results with minus signs. Normally it’s reasonable to anticipate some sort of bounce at such a target level.
If we opt to pretend confidence in the down trend since the share price was “rescued” by a 100:1 split, the scenario does exist of movement above the dashed blue line – currently 79p – being apparently capable of growth to 89p. If bettered, a longer term secondary calculates at 134p with the potential of a bonk against the downtrend in blue which dates back to June 2015. Only with closure above blue shall we feel able to mention some amazing recovery potentials at 205p initially followed by a longer term 274p.
For now though, we suspect its going to make an attempt at our bottom target. In an ideal world, it will rebound before such a doom is reached.
To clarify, spending 150 minutes watching a film which struggled to find an ending was annoying. At least they avoided tacking on the East Enders “dum dum dum dum & dumber” cliff-hanger music to the end. The experience left a residual impression of Marvel attempting to bring their TV series method to the big screen. Instead of providing a break from market analysis, a longing to get back to work ensued.
Finally, for those who emailed to ask about RENE, sorry to complain about a film. Going to the cinema in daytime, prior to producing this report, was probably not the wisest move.
Source: interactive investor 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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