THG PLC: Reversal and Bullish Island Pattern1) I believe that the bullish wedge pattern (June-August) is still valid with the price target of 88.
2) Island Pattern, which is reversal and bullish.
3) Price to book ratio: 0.32
4) Insiders are buying the stock at these levels.
1st target: 88
2nd target: 104.85 (gap)
THG trade ideas
THG - Lets try againWhat happened to this share price is utter BS.
I speculate there was a plan here to short and distort this share’s price ready for a future bait and switch on retail investors.
I wouldn’t want to get caught out by shorting this stock, its already at its all time low. The upside is way more fruitful than the downside at this point.
Fundamentals for this business are very good and the business is well capitalised and has a very bright future ahead.
Onto TA:
We have a falling wedge on the 1D graph and a positive divergence on the VFI and RSI. The wedge appears to have been set in motion around IPO time, if you follow the bottom line back to the start.
Fill the gapGap down on the daily yet to be filled, strong volume crossover on daily timeframe.
RSI strengthening on 4hour timeframe, stronger than proceeding bounce.
Hammer at the bottom of trend on weekly timeframe, should be a strong signal, possibly shooting past the gap of the course of the new few weeks.