Ashtead Share Discussion Threads

[bracke] 25/7/2023 14:48

AHT raising $750 Million

'Net proceeds from the offering will be used to repay a portion of the holding company's outstanding debt and for general corporate expenditures.'

[bracke] 24/7/2023 11:04

On Friday a break above resistance at 5488 and held. The target now the two gaps at 5736 and 5830. A lot going on this week with central banks deciding rates and big tech earnings.

DAILY AHT

[bracke] 18/7/2023 18:59

Good day disc0

I suppose that's one way of describing it. The discerning chartist would refer to it as being in a horizontal channel aka ranging.

In post 62077 I typed:

"The share price is now at a previous r/s zone indicated by the red horizontal line at 5136. The US market is likely the decider whether it breaks up or continues the drop probably to 4949."

5136 supported so 4949 will have to wait for another day. Thus far the rise in the US market has not taken the share price out of the channel.

Looking at the rise in the US market one would think all was right with the world and the way ahead was clear. The market appears determined to power on to new highs. Is it irrational or is it correct.

I view the charts of the main US Indices and think retrace/pull back/reversal. From previous experience I know the US markets can remain elevated a lot longer than I think they can.

AHT DAILY

[disc0dave45] 18/7/2023 13:51

Good day Mr bAHT doing a crab movement at the moment......new TA speak! lol

[bracke] 12/7/2023 16:54

Good day disc0

The US market wants to push up at the slightest opportunity in the expectation that a FED pivot draws ever closer. Which begs the question will the FED 'pause' again or will it be another 0.25% increase. Requests on a post card to:

Mr J.Powell
Chairman of the Board of Governors of the Federal Reserve System
The Eccles Building
Washington
D.C.
U S A

In the meantime you will gratified to see that the gap at 5364 has been filled.
Viewing the chart you will observe I have added two dashed pink lines which define the s/r of the previous horizontal channel.

DAILY AHT

[disc0dave45] 12/7/2023 16:20

Thanks Mr bUS inflation a tad lower than expected, hence as you said a break to the upside.

[bracke] 11/7/2023 12:03

The gap at 5228 filled.

AHT DAILY

[bracke] 07/7/2023 11:56

Time for a chart update.

Viewing the daily chart shows the pink vertical line at 15 June was useful in suggesting a drop was due. It will be noted the drop resulted in two gaps at 5364 and 5228. There is a gap to the downside at 4949.

The share price is now at a previous r/s zone indicated by the red horizontal line at 5136. The US market is likely the decider whether it breaks up or continues the drop probably to 4949.

AHT DAILY

[bracke] 30/6/2023 19:06

disc0

"Mr Stroll is no fool"
======================

I agree. He has just lowered his shareholding in the company maybe he needed a few £'s. He is a sharp operator.

[disc0dave45] 30/6/2023 16:29

Good afternoon Mr bMany thanks for your thoughts, I will study your pretty charts this evening. As you know I'm keen to ride the momentum and do believe there's more to come. Mr Stroll is no fool.

[bracke] 30/6/2023 15:26

Good day disc0

I take an interest in AML, not because I have a position or ever have had or because I intend to. Given the history of the company past and present I am interested to see if Mr Stroll can do what his predecessors failed to do......give the company a stable profitable future.

I will restrict my thoughts to the charts.

Putting the situation into perspective it's only right to start with the weekly chart commencing 01-10-2018 which is when the company was listed on the stock exchange. There is no need for me to comment other than to say if you bought the IPO you would be 'unhappy'.

AML WEEKLY CHART (Long Version)




I am showing a short version weekly chart as a more relevant illustration of the current situation. The share price conforms closely to the FIB sequence. It has moved above the 23.6% fib and is now at the 38.2% fib.

AML WEEKLY CHART (Short Version)



The daily chart provides a view of recent share price price action. It can be seen that the move above the 23.6% fib was preceded by several large candles indicating buying pressure which faded and became selling pressure taking the share price below the 23.6% fib. The move up from 200 came as a result of a recent announcement and once again buying pressure took the share price back above the 23.6% fib and on to the 38.2% fib where it is resisted.

Following the rise from 200 to 375 it would not be unreasonable to expect a retrace as a result of profit taking. Unless there is more good news in the near future the share price is likely to drop down. There is little support available until the 23.6% fib at 266 other than a minor possibility at 320.

I have added a shorter term FIB (Blue) which the share price has responded to. If this continues 306 can be added as a possible support.

AML DAILY CHART




If I was going to buy I would wait for a rise and hold above 375 or a retrace to one of the supports and then assess.

[disc0dave45] 30/6/2023 11:15

Good day Mr bTruly welcome your pretty charts and commentary.Slightly off topic - nice momentum chart AML. Should have gone with it!, but didn't. Forget fundamentals, your TA thoughts?.

[bracke] 29/6/2023 14:02

Good day disc0

You are too kind.

The share price tried to make a break for it yesterday but was unable to maintain the upward pressure. Tomorrow is OPEX and end of month which may determine which direction the share price will exit the horizontal channel.

[disc0dave45] 28/6/2023 19:41

Thanks Mr b for pretty charts, pink is your colour! :)

[bracke] 27/6/2023 12:27

Looking at the charts....no groaning please.

The share price is in a 5300-5400 horizontal channel which is more easily seen on the hourly chart. So two charts today the daily and the hourly.

Thus far the correction from the 5600 high (vertical pink line)has been restrained. Previous corrections/falls suggest there is more to come if only to the lower line of the long term rising channel(green rising line).


AHT DAILY




AHT HOURLY

[wall street trader] 23/6/2023 08:26

Is Hatto still around ? Remember him buying these for pennies and making over a million https://www.fool.co.uk/2023/06/22/if-id-invested-5k-in-this-world-class-ftse-100-share-20-years-ago-id-have-2m-today/

[fenners66] 20/6/2023 13:37

US construction surging apart from just housing (according to Bloomberg)
Heavy and civil construction because infrastructure projects getting started...

[fenners66] 20/6/2023 13:32

US housing starts up 21.7% last month