Ashtead - (AHT)

cookie

Active member
248 1
We reviewed this stock several times on the old boards and I know there are a few of you interested.

Interims due on Monday 22nd.

If reporting to the good I see this one picking up pace with some good volumes and hopefully breaking resistance at about 137 and moving on to 170ish.

Anybody agree or think otherwise ???


Have a nice weekend.



Cookie
 

Riz

Experienced member
1,266 5
Hi Cookie,

Apart from the plenty of positive news posted in my earlier thread on AHT, they were recommended by Mark Watson Mitchell in Shares magazine.. he reckons they'll hit £2.00 for 2001....

I think it was last week Beeson Gregory said Ashtead shares should double..it's worth to note that they see the value AHT's existing business as 109p but they add another 130p of value to come from expansion and increased operational efficiencies...

If the results turn out to be anywhere near near the forecasts by house brokers, they might head for £2..

I personally think the one-off costs of the US acquisition will limit the increase in both profits and EPS...

So overall it all depends on the result..if positive next resistance 138 which will most likely be broken through, no serious resistance from there up to 170ish..if negative soon back to 100-110 support which I doubt will hold..

I did buy a small amount just in case and intend to top up if the results come out positive on monday...

Have a look at this thread if you're seriously interested to get in:
http://www.investorevolution.com/cgi-bin/bbs/showthreaded.pl?Cat=&Board=gen&Number=26995&page=&view=&sb=&vc=1#Post26995

good luck..

rizgar
 

Riz

Experienced member
1,266 5
AHT announced its results for the six months to October 31... Pretax profit came in at £30m (£26.6), earnings per share at 8.5p (7.09). down -11 to 115...
 

Riz

Experienced member
1,266 5
strange...

Ashtead Group (AHT)

From citywire:

Interesting how the stock is off a penny at 123/127p - despite the plant hire company says it has an impressive start to the second half, with overall revenues up 87%, like-for-like. With about 40% of revenues and profits being derived from the US, the concern is likely that no one really knows where the US economy is heading.

The company proclaims, however, that 'future prospects in America for Ashtead have never been better.'

These interims merit closer study, however the rationale for Ashtead has been well articulated by several bullish brokers. I have sat on the fence and not bothered to talk about the stock, having seen where enough plant hire companies go in an economic slowdown. Ashtead seems mired at about 125p and I wonder, if these interims won't spur it - what will?

Herald
 

cookie

Active member
248 1
Hi Riz

Nice to see you back.

Nice Ramp - I remember you liked this one.

It appears analysts are concerned about increased competitive conditions in the UK and fear for future earnings.

Chairman Peter Lewis said that the drop in price was due to people who had 'misunderstood the numbers' who were looking at the £8.8mln profit and not the adjusted figure of £30mln which was at the top end of analysts forecasts.

Price has popped up from 117 to 120 today so far with good buying but charts suggest that having broken 122 its 100 next stop.

A little harsh I fear what do you think??


Cookie
 

Riz

Experienced member
1,266 5
Hi Cookie..

I don't think AHT is heading for 100..there are a few more support levels on the way down there...besides although the results didn't spike a rally they didn't spike a sell off either..AHT is holding well and just about to form duble-bottom around the current level..if this support holds with all this positive recommendations watch them go up..I am in and holding a small amount by the way..good luck

Another thing, I just missed to get in AGS with a big amount of cfds at 125 today, I was held because advfn went down and I couldn't follow them on L2..still watching them very closely, the support level I anticipated held well and started bouncing from there..good luck again

cheers

rizgar
 

Riz

Experienced member
1,266 5
Up 1 to 117.5 today..
Also retipped in today's Investors Chronicle saying "Ashtead enjoys a solid long-term position. Keep buying"...
 

Riz

Experienced member
1,266 5
+1 to 114..price bouncing back from the lower BB..stochastics at the oversold area...RSI ticking up..we still need the price to cross 118-119 resistance level thus breaking 2 others on its way up to feel safe as to a recovery might have started...

rizgar
 

Riz

Experienced member
1,266 5
Up today +4 (3.5%) to 118..bottom (that I suggested to be watched in my earlier posts) well formed right on the lower BB at 113..bouncing back up from that point on..big volume spike..charts shaping up nicely..stochastic K headed up and just about to cross over D at the oversold area...RSI, MFI, OBV all heading up...all signs suggesting that AHT is on the way to recovery...provided that the price is not pulled back from this level, AHT will soon be well over 130..

good luck to those of us already in

rizgar
 

Uncle

Established member
671 2
Candlestick Chart

Today a rising window occurred. This usually implies a continuation of a bullish trend. Other Indicators agree with Riz
 

Riz

Experienced member
1,266 5
slowly approaching 130..

Up +2.5 (2.0%) to 126 today AHT slowly making its way to 130...though it still has got a couple of resistance points in the way up..once these are broken we may see AHT testing strong resistance at 137-138 which might open the way for further big bounces...

Chart still looking bullish with the price haveing touched and bounced from lower BB heading up for upper BB which is around 130 at the moment...a possible retracement might start from that level...although the stochastics and OBV are flat at the moment, MFI and RSI still ticking up at 50 indicating the continuity of the upward movement for the time being...

Let's keep watching AHT..

What's your position, cookie?

(no financial advice intended)

rizgar
 

cookie

Active member
248 1
Profit !!!!

Closed today @ 124 ( Bought 10k @ 119.50 )

The way the market is at present Riz I'm banking at every opportunity. I can always get back in when we see a bit more volume.

Good luck


Cookie
 

Riz

Experienced member
1,266 5
UP

There we go up +5.5 (4.4%) to 131.5…amid news of grant of share options to the directors AHT is steadily heading up to record new year highs…broke over the upper BB…stochastics at the overbought area… might retrace soon… RSI and MFI still being up and optimistic comments on the US economy from Fed chair Alan Greenspan refer to more upward movement before retracing though…whatever it looks like AHT will be on its way up for some time…

rizgar

(no financial advice intended)