Rightmove shares heading for record high?
Up 20% this year alone, shares in the property website are only 30p away from a new best. Independent analyst Alistair Strang reveals what his charts say happens next.
24th June 2025 07:53
Tuesday looks like some fun is possible for the FTSE 100, or at least some solid gains on the market, with market futures trading at 8,800 points at time of writing.
On the other side of the coin, Brent crude risks reversal toward $62.53 and a probable short-term rebound. But should $62.53 break, our longer-term secondary calculates at a possible bottom around $56.92. A bounce at such a level is not certain.
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As for Rightmove (LSE:RMV), there are certainly a wide range of mixed commentary, the bias appearing toward analysts predicting doom.
However, the visuals don’t agree, and news that the company has removed 100,000 shares from the trading pool is unlikely to reduce their price potentials. Movements next above 784p look capable of triggering a cycle toward an initial 806p with our longer-term secondary at 836p and an all-time high.
Significantly, once above 806p, we shall regard the share as being in the thrall of a long-term attraction up at 886p.
Alternately, below 703p is required to inject concern into our calculations, suggesting the potential of weakness to an eventual 647p and a possible bounce.
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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