ITV forum9 Jun 2024 10:48
Moving away from the troll issue and back to the topic of this forum.
What do you think the near future of ITV's share price looks like? In my opinion, next week we will see another attempt to break through the 80 pence level. As I have already written, observing the turnover (when we separate clearly agreed transactions), we can see a lack of acceptance for the current level of share valuation, where daily turnover without the presence of buyback transactions on the market often does not exceed 2 million shares. This clearly suggests a withdrawal of supply with demand being withheld, and waiting for a clearer price movement from the buyers. In the background, we can see (at least for now) a lack of interest from larger players in moving to a much higher share price level, with a probable strong increase in the share price after breaking through the current resistance and, in the perspective as a result of this break, consequences related to the market's play on entering the FTSE100 index. From my point of view, we can see further calm accumulation of shares and waiting for a signal from the external market or from ITV itself. Will the third attempt to break through the 80 pence level and then maintain the price in the 85-89 pence range succeed this time? I think we have a good chance of that. Since at least February this year I have been writing about the reasons for the bull market that should come to ITV, the expected period and its necessary conditions (those visible to everyone and not just a few). One of them, after the improvement in forecasts that we have already seen, was to be a drop in interest rates in the UK, creating strong demand pressure for financially stable dividend companies. And this reduction in my opinion,observing external markets but above all economic data from Great Britain, should be expected on June 20. Add to this the upcoming sports events that significantly affect ITV's finances, the decisive signaled increase in profits from the advertising segment of competitors, growing recommendations for the valuation of ITV and the entire segment of this market, etc., it should be assumed that this may be a good moment for a significant upward movement in the ITV share price. It is also important to be aware that whoever initiates this move has a chance to remove the last significant block of share supply from the market before the competition does so and before we break through the £1.0-£1.20 levels. Investors who will return to investing in ITV in the second half of the year will take care of making it profitable, if of course the financial forecasts presented by the Board are fulfilled, which at least I do not doubt. So I maintain my assessment of the successful movement of the ITV share price and entering the range above 80 pence by the end of June (and ahead of the decision to cut interest rates). As every time it's only my private opinion depending of market situation, but I think with huge chance to win.