Aitken Spence Plc - SPEN.N.0000......Expected Target 57.70!!!

SPEN.N.0000 makes a potential counter which will have a short to medium term rally from now onward. Strong volumes can be seen changing hands in the last 10 days, within a range between 50.00 and 53.00, overshooting to a high of 56.50 in the interim. As such 56.50 remains the present Resistance and the Support being 50.00. In the short term we could see the stock re-testing 56.50. If it's not going to break out there, then the stock will pullback to the top of the range at 53.00. Once the consolidation is complete around 53.00, we could see a check at 56.50. Based on the volumes changing hands at that, thereafter we can expect a break out to test 57.70. The uptrend can finally test 59.50 before a short term correction takes place. If the said rally ends between 56.50 and 57.70, and try to move side ways in the range between 50 and 53, you must stop below 50.00. Until it closes below 50.00 on strong volumes you should not stop the trade. A rally will be strongly supported provided that the Company will continue to show positive fundamentals.