M&S have had an unfortunate ride with the sudden exit of their CEO followed by Covid-19. Nonetheless, we are trading far below its intrinsic value. As seen we are reaching the final quarter of our descending channel as well as nearing a return to normality from the Corona virus. We can reasonably predict that a break of the channel resistance will take us to our consolidation zone, followed by further upside to the 2000 low of 155.00.