Thursday, 14th March 2019 11:34 - by Rajan Dhall
Decent prelim results for the cinema chain this morning:
All looking good at the moment for the firm that bought Regal in a deal that valued the business at US$3.6bn. On the technical front, there seems to be a fair chance that the highs could be hit once more as there are some massive movies out in the future and the firm looks like they are in a good place to take advantage. The company now forecasts run-rate synergies of $150m in 2019 versus a previous forecast of $100m. In the way is the 309p resistance but the price has printed slightly above that level already. If it gets taken out looks for support at that level or at the psychological 300p level. Either way, things are looking good for the company.
Kind Regards
Rajan Dhall
The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.