San Leon (LSE:SLE)
One of our pet hates is being asked about a share on the very day it recommences trading. Our answer, unfortunately, is usually like trying to predict Scottish weather. However, in the case of San Leon (SLE), there appear to be some logical conclusions to be drawn.
A sensible caveat, perhaps worth bearing in mind, is we’re biasing our calculations against a single days trading forces. In some ways, this can prove similar to predicting a UK election on the basis of some woman in Bristol’s thoughts. But in the case of SLE, it appears anything near term now exceeding 37p should make a reach for 40.75p next.
Utterly key for the future will be the scenario should 40.75p actually be exceeded. In such a case, we’re looking for a cycle to commence to 52p in the future. Visually, it makes sense to regard 40.75p as being a “trigger level” with the result above 52p and it appears 66p can be hoped sometime in the future.
About the only viable negative worth mentioning is down at 17p. In the event the share price now slithers below such a point, we cannot calculate a bottom without prefacing it with minus signs.
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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