Morgan Advanced Materials plc, formerly The Morgan Crucible Company plc, is a United Kingdom-based engineering company. The Company is engaged in advanced materials science and engineering of ceramics, carbon and composites. The Company's segments include North America, Europe and Asia/Rest of World.
Market Cap: £889.21 Million
Morgan Advanced Materials broke out of a bottom pattern back in November 2019 above 283p and the price went on to reach 339p very quickly. We have seen some evidence of the price begin to consolidate within a flag/pennant pattern. The shares appear to be on the verge of completing the pattern, which should lead to a continuation higher over the short to medium term. The ultimate target is at 424p, which is roughly 35% higher than the current price.
i really like your analysis , for next time also could you please add buy price as well, in case we have picked up your post late it would help to understand if we are late to the party or if its still worth taking the plunge, i know you can buy anywhere in uptrend but would be good to under what your opinon on entry point would have been..
also do you do any fundamental analysis at all with the tech analysis?
Investamate
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@virtualtechie11, hey, yes I do limited fundamental analysis. I developed a quantitative model that scores stocks based on a combination of financial ratios. This helps me rank stocks and cut through some of the noise rather than trawling balance sheets and news.
Point taken regarding entry levels. I'll be sure to add a buying range on the next ideas.
For the purpose of P&L record keeping I use the opening price from the day after the recommendation.
virtualtechie11
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@JN_Wealth_Management, Thanks , that sounds interesting , and sounds like would be a good set up to use , are you able to share it? as not sure if you do it for the love or are you an actual business?
Investamate
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Hi guys, sorry for the delay in responding.
I have calculated the target ultimate target by measuring the 'poll' of the flag pattern and projecting that up from the breaking point of the flag. Targets 1 & 2 are resistance areas.
Regarding how long it will take to reach these targets, it's difficult to say. Could take days, could take weeks.
Good luck if you have bought some.
ralpinmcdjango
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I think this is a good find. I'm no expert but the signs are definitely there and look positive. How are you calculating you targets?
virtualtechie11
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Nice,
what would be good to see is also , some sort of graphical representation of how long do you think it will take to reach each of these targets.... or written may be good enough as well.
also do you do any fundamental analysis at all with the tech analysis?