Thorntons. What's not to like?

Tuesday, 22nd April 2014 08:45 - by Osakisushi

Next time this lot gets above 168, it looks intent on going to 195p with secondary, if bettered, at a longer term 260p.

And now for the blurb.

The chart from the beginning of time has a pretty BLUE line, dating from 1998. The share price managed to break above this level at the start of the year and has followed ‘the rules’ ever since. As shown, it achieved a fairly normal breakout spike and is currently back testing the trend. And this is completely normal behaviour UNLESS it closes below BLUE at 134p currently.

In my list of Bad Signals, this is pretty close to the top!

However, the price certainly permits a lot of optimism for the future for those with patience for the longer term. Personally, as a confirmed victim of Thorntons Toffee (since becoming a grandparent, there seems to be a firm rule I am given it for Birthdays and Xmas), I notice even my local independent petrol station stocks Thornton products, so I’d guess their output is no longer the strict preserve of their boutique shop units.

Finally, if it gets below RED (60p currently) as seems unlikely, all future hopes are trashed!

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.