Oxford Instruments Share Price (OXIG)

Update, the weekly price bar of 25/12/23, made a new high, but then the close, was below the previous week close. This price bar was a potent reversal of the preceding rally, and essentially negated my previous comment. In addition the reverse head and shoulders formation, previously described, was negated when the time element failed to produce a subsequent higher high after the weekly price of 25/12/23.

Sector chart, in uptrend. OXIG, reverse head and shoulders price formation, provides a sp, forecast of 2826. There is some overhead supply from previous trading, which will require to be absorbed, in volume, before the target price of 2826, is reached.

"Our expectations for the full year trading performance are unchanged." Described as a "robust" set of results which implies an improvement in the second half. The adjusted basic earnings per share were virtually unchanged (-2.8%) and the interim dividend increased by 6.5% reflecting their confidence in the future. Cash conversion was down reflecting an adjustment for capital expenditure on capacity expansion and inventory build-up ahead of transfer of operations to new facility and is expected to return to historic rates in the second half. Still net cash of £79.1m so no issue with banking covenants. The presentation can be seen at https://www.oxinst.com/investors-content/financial-reports-and-presentations (registration required. All in all satisfactory against market expectations which were somewhat more gloomy hence the sp rise today.

Thanks for that Thungelaberg. Yes same here but it all sounds very positive!

Possibly something to do with this, but it's way over my head:
https://www.einnews.com/pr_news/616109134/uptime-maximised-by-oxford-instruments-oqc-s-lucy-cold-for-a-year