Arcontech Group Share Price (ARC)

Share volume, was the highest volume, for more than 6 months, and yesterday volume, was second highest, for more than 6 months. A sp, resistance breakout, with heavy volume, as indicated from ARC, records, validates the probability of the sp, resistance break, carrying through to higher price levels.

New 2 year close price today. Yesterday, 21/2/24, the RSI(relative strength index), crossed above 50, signifying the beginning of an uptrend. This was further strengthened because the RSI, crossed above its own preceding high, causing a bullish failure swing. The volatility based 20 month, top bollinger band, of yesterday at 96, was broken upward today. Similarly the 20 day, top bollinger band, of yesterday at 95, was broken upward today. The background, to those technical events, is that the supporting software sector value, broke above its recent price pivot, which enhances the bullish event for ARC.

And there are £8m of tax losses available so they won't be paying corporation tax any time soon.

Looked pretty good and the outlook seemed positive. Cash has increased to £6.8m since December and market cap is only £12m, so you're effectively getting around £1m of PBT for £5.2m. Seems very cheap.

Stockopedia has dividend of 3.7p for full year, so yield of over 4%.

It's a shame the UK market doesn't give these companies a decent rating, but happy to hold here.

ATB

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