The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I lifted this from Swingtradebot. If you believe in chart patterns then next week could be positive.
“IAG closed down 0.17 percent on Friday, April 21, 2023, on 47 percent of normal volume. The price action carved out a bullish hammer (or hammer-like) candlestick pattern. That may indicate an upside reversal. Look for price to trade above the high of the hammer for confirmation.”
Bobbins2, the truth is no one knows where this share price will go next. Chartists will claim to know but the author of this article on Investingcube wrote another article some weeks ago where he forecast that the share price would drop to less than 100 pence, and it promptly increased significantly so he was forced to write a third article to explain his incorrect forecast, so don’t go by what this author says. I am disappointed however that EZJ did not rise higher given the positive trading statement.
https://www.investingcube.com/iag-share-price-makes-fresh-monthly-highs-but-theres-a-catch/
Yes Bobbins2 but that was in the good old days just after IAG had proudly declared a post tax loss of £6.9b and on the back of a hastily arranged sale of senior unsecured bonds. All this nonsense of post tax profit, a huge increase in revenue and all available flights sold out until December is seriously hindering our share price.
Lloyds observed correctly recently to look at charts over the previous year to gain some insight into future movement. If that is the case, we are heading for the 120’s. The difference this year is that the company is now profitable again, in addition to this the FTSE 100 is some two hundred points higher than it was at this time last year. The company have already forecast a loss of €200m for the first quarter, any improvement on this will hopefully provide a positive effect.
Good to read that Bank of America are reiterating IAG as a buy with a target price of 240 pence. A bad day today but hopefully airline shares will be lifted again when Delta release its quarterly report tomorrow. The suggestion is that they have exceeded expectation.
I think much will depend upon the strength and direction of the FTSE 100 over the coming months, as the IAG share price is still tracking the FTSE 100 on the three and six month chart. Barclays haven’t helped matters by forecasting that the recent banking crisis has served to deter investors from risk.
I’m not holding my breath DB2014, the results in May 22 had a very negative effect on the share price. We reported very positively in our final results in February 23 and again the share price dropped significantly. I can’t see May 23 being any different.
Geng, thanks for your observations, interesting. I have to say though I am sick to the back teeth of buying opportunities with this company. How about a selling opportunity for a change ? There is a huge gap to fill above 173 pence and I will be delighted to fill it with a big fat sell order !
AS has hastily had to post an updated article on Investing Cube following our broker upgrades last week. Gone is the teacup and handle nonsense. AS is still not bullish but a breakout above 156 pence would apparently lead to a break out above a trend line.
There is a very negative forecast article on the above mentioned website about IAG, written by an analyst that correctly forecast the recent rise back up to 150 pence. This article however was written on the 27th March when the share price was at 137 pence and before the broker upgrades yesterday. Something about bearish tea cups and handles. Not sure whether to take it seriously or not. On another note, Marshall Wace reduced its short position further on the 29th March, now down to 0.59 per cent.