Finally - the Intermediate trend has joined the others and crossed to he upside on Friday.14 Mar 2021 00:23
Couldn't find the time to post after Friday, so now or never.
The final trend I have been keen to see turn bullish (Intermediate Trend) confirmed just that, by close on Friday 12th.
All trends are now clearly bullish (apart from one - the Ultra Long Term trend, which will take yet more time but with the Long Term Trend and the 200 day trend both in the Bullish ascendency camp, it is surely only a matter of time, especially as the Ultra is based on monthly price actions alone).
The recent price action holding the mid 130's has been particularly pleasing, making posters laments of: oh it always falls back, officially redundant from this time on.
Of course the price will fall back occasionally, but any purely speculative forecasts of pullbacks to the 100 area are now statistically unsupported, IMO.
Immediate targets are to enter 140's and hold and at least match the early March high of approx 144.
They call it overhead supply in the US, or more commonally - resistance, when a certain area is met with immediate selling and then a retreating SP. That so called overhead supply (scared money) in the 140's should eventually dissapate and give way.
Once in the 140's the upper 140's are the next serious area targets of concern as that was the last high in early January of this year. Only after that point, does the serious business start.
Then the next meaningful high - low 200's last seen in late 2019 leading up to the national election has to be taken down or it all ends there.
With all trends now bullish, anything over mid 250's up to the £3 area only represents the fair value of how things stand right now from a balance sheet perspective. So not fanciful to set that area as a fair value SP target based on current balance sheet performance (and Q4 permitting).
From £3 I can't envisage much further SP growth unless revenue starts to increase or as a minimum stops falling Y-O-Y.
Any progress to the 250p to £3 area would only reflect the current 'cash producing machine' (net profit) worth of BT. Difficult to envisage any stock with a perennially falling revenue issue, increasing the SP to fanciful highs.
However just knocking out the previous highs up to £2 isn't going to happen in weeks, so enough time should have lapsed by the eventual sight of 250 to £3 that a fuller evaluation can be made in forecasts of when/if falling revenue is addressed.
As I don't set investment SP targets, my fall back position is to simply follow the trends
- and the major trends are finally all the same singing in rare unison: go for it!
Major Trend lines are saying the 5 year retrace is in the early stages of being considered over.
Any suggestions of the 100 border or lower will be inevitable again, will need to be offered with serious supporting facts, not wild opinions.
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