Ashtead Share Discussion Threads

[bracke] 16/4/2024 12:36

5700 failed to hold but has not tested the 23.6% Fib at 5566.
New gap down from yesterdays close at 5700.

AHT DAILY

[bracke] 15/4/2024 14:30

The share price is currently supported at 5700 (5698 on chart).

Irrespective of the Iran/Israel situation the RSI suggests 5700 is unlikely to hold. 5566 is next support zone.

AHT DAILY

[bracke] 11/4/2024 13:28

Good day palwing

"A drop to make it an attractive buy...you tease!"
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Yes I thought that would elicit a reaction but it is a muted one with just yourself commenting. Perhaps holders were stunned at the thought of a drop of the magnitude I mentioned.

Given the current US market does the share price appear to be a good buy or this there likely to be a better opportunity.

AHT DAILY

[palwing32] 10/4/2024 19:25

A drop to make it an attractive buy...you tease!

[bracke] 10/4/2024 15:23

disc0

I have come to the conclusion that Mr Powell either doesn't know what he is talking about or he is working to an agenda which is not truthful. I think he does know what he is saying......Given todays US data will he still be holding to 3 cuts this year, or perish the thought, does a rate increase hove into view!

In the meantime the share price has to drop in order to attain underbought status and become an attractive buy. A drop to fill the gap at 5312 would be a good start followed by a further drop to the rising channel lower support at approx 5200.

I'll get my coat.

AHT DAILY

[disc0dave46] 10/4/2024 14:51

Good day Mr bThanks for that, it was 66 yesterday, may have been 66.8 can't recall but definitely wasn't 70+.Did try a comparison earlier today but couldn't get the RSI to show on tradingview chart, don't know why. Anyway no great shakes as guess good old JP has put too much fuel on the inflation fire, muppet lol, so guess AHT isn't now anywhere near overbought :(

[fenners66] 10/4/2024 13:34

Sharp tick up and then the US CPI and it comes back down again !

[bracke] 10/4/2024 13:32

Good day disc0

I've been watching the Stock Charts and Trading View daily chart. The price shown on both is the same. SC RSI is 70.93 and TV RSI is 69.82 so very little difference. Why there is a difference I don't know. It maybe slight difference in settings or difference where they each take their feed from.

For my purposes a slight difference makes no difference.

I note the share price is attempting another breakout. Maybe better luck than yesterday when it was sent packing in short order.

[disc0dave46] 09/4/2024 19:20

Ps sorry on stockcharts type AHT.L

[disc0dave46] 09/4/2024 19:19

Mr bStock chartsHttps://stockcharts.com/h-sc/uiAlso the charting function on the Stockopedia website was showing 66.

[bracke] 09/4/2024 17:23

Good day disc0

"Sorry for questioning the guru so please don’t take offence as none intended."
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I will not.....on this occasion.

Perhaps you could inform me of the sites with the contradictory RSI please.

Todays long shadow/pin/upper wick is ominous.

[disc0dave46] 09/4/2024 17:09

Good evening Mr bThanks for your update, just a quick observation, from a couple of other charting sites it has RSI (14) of 66, so not overbought. Why does your source show otherwise?.Sorry for questioning the guru so please don't take offence as none intended.

[fenners66] 09/4/2024 16:14

That was some "fall back" - even worse than yesterday !

[fenners66] 09/4/2024 15:06

And on cue the US market falls and AHT with it.
Anyone would think this was a US listed - without most of the upside though , looking at how URI and H&E have performed....

[bracke] 09/4/2024 14:05

The Big Wedge has been well broken to the upside and is no more. Todays rise has also filled the gap to 5830 AND broken above the last major high of 5794 achieved on 09 August 2023. What more could you wish for (that's a rhetorical question).

However. You knew there was going to be an 'However' didn't you. (that's also rhetorical).

You will observe the RSI has moved into 'overbought' territory. Caveat Emptor, just saying that's all.

AHT DAILY

[fenners66] 09/4/2024 12:55

Nice tick up - but will it fall back like yesterday?

[disc0dave46] 05/4/2024 13:56

Good day Mr b, thanks for that.NFP 303k v 200k forecast, but will the market look on the bright side as hourly wage growth only went up marginally (0.3%) but dropping the 12 month number to 4.1% from 4.3% (sure I read that's the lowest since 2021, can't remember the month and I stand to be corrected).Have a good day

[fenners66] 05/4/2024 13:37

US payrolls added 39,000 construction jobs last month
suggests faster growth in house building and some of that infrastructure getting underway.

[bracke] 05/4/2024 13:29

Gap at 5728 filled.

AHT DAILY

[fenners66] 26/3/2024 14:23

Bloomberg have already raised the matter that Biden wants to spend on infrastructure already and questions now whether there was any reason to have already been spending given the Baltimore Bridge collapse.

That would only have been the case if bridge support standards would have changed since the 1970's to prevent an impact like the one today knocking over the bridge - I suspect not - but it raises the issue of spending on infrastructure and clearly lots is going to have to be spent there now...

[disc0dave46] 25/3/2024 18:24

(Sharecast News)-JPMorgan Cazenove placed Ashtead on “positive catalyst watch” on Monday ahead of its capital markets day in Atlanta on 29th April, as it expects the stock to outperform into/on the event.
The bank said that after the success of the Sunbelt 3.0 strategy - launched at the last CMD in 2021 - where the group said it will exceed its targets, it is set to lay out its "much anticipated" five-year plan.
JPM said teasers for Sunbelt 4.0 suggest continued focus on ‘Growth’ and ‘Resilience217; but also, ‘Performance’, which is likely to highlight margin progression - a reflection of the evolution of the business model from just a growth story, which it detailed in its recent "deep dive".
"As such, we expect the stock to outperform into/on the event and place the stock on positive catalyst watch."
JPM, which rates the shares at ‘overweight217; with a 6,600p price target, expects the messaging at the CMD to be positive, with a bullish message on growth underpinned by multiple company-specific drivers and end markets (in particular mega projects), margin expansion, and increased balance sheet optionality following a moderation in capex, creating a more sustainable equity investment.
"In our view, the targets will likely cautiously bracket high single digit percentage (e.g. 6-9%) organic rental revenue growth, driving a circa 10-16% earnings per share compound annual growth rate when including the balance sheet optionality, ahead of FY29e consensus (albeit limited forecasts).
"As with the previous CMD, we would expect the group to outperform any targets over the time horizon, which could see the group deliver circa 13-18% adjusted EPS CAGR."
JPM said that with the stock lagging peers year-to-date and trading in line with its five-year average on EV/EBITA and close to its widest discount to United Rentals (its closest peer) in five years (excluding April 2020), it continues "to see risk/ reward as attractive, seeing the CMD as a positive catalyst".

[...]

[bracke] 21/3/2024 18:22

Currently warnings mean nothing to the US Market.

Reddit have not made a profit in 20 years but today their IPO is up 60%. It's very reminiscent of the dot com boom.

[disc0dave46] 21/3/2024 15:27

Thanks for the chart Mr bSo some disparity could be associated with the dire UK market. Probably also need to check the company results as well as not aware that URI have issued any warnings, whereas AHT have on two occasions now if my memory serves.

[bracke] 21/3/2024 15:20

disc0

Comparison of FTSE100 and S&P500 in link below.

Thanks for the article which seems to support Elliott Wave Theory i.e. no matter what the fundamentals are the market will do what it wants.

DAILY FTSE100/S&P500 COMPARISON

[disc0dave46] 21/3/2024 14:09

Good day Mr bThanks for the pretty chart :)Wow that's some difference!. Can I ask does it look similar when comparing the associated indices?.Read this also about the US election and likely market impact. The research / analysis concluded:"The historical data suggests that economic and inflation trends, more so than election outcomes, tend to have a stronger, more consistent relationship with market returns."Which given the current macros seems apt.Https://www.usbank.com/investing/financial-perspectives/market-news/how-presidential-elections-affect-the-stock-market.html