How long can Aston Martin shares head in right direction?
The stock market flotation of one of Britain's most iconic brands has been a disaster, losing 97% of its value. Independent analyst Alistair Strang studies the charts for any sign of optimism.
31st October 2024 07:50
Miracles happen, though rarely for Aston Martin Lagonda Global Holdings Ordinary Shares (LSE:AML).
We’re starting to wonder if AML should abandon their car ambitions as The Times started Wednesday by reporting Aston were losing £1 million per day as the company missed all targets for the most recent quarter earnings.
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Another publication reported gleefully Aston Martin has slashed their pre-tax loss by 90% and their revenue had increased by 8%, carrying an implicit degree of optimism for the car company, the share price somehow ending up 5% on Wednesday.
The situation now is fairly dangerous due to share price closure below 100p entering a zone where perhaps 93p may produce a bounce. But, from our software and a Big Picture viewpoint, Aston Martin shall find itself driving at speed to a share price value of precisely zero. Which is rarely a good sign!
If some happiness is coming, it appears above 115p could easily provoke acceleration to an initial 124p with our secondary, if bettered, at a longer term 141p.
Closure above 141p should prove to be game changing, signalling a core change in the way Aston is being regarded.
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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