Kingfisher #Nasdaq #Japan When the USA finally gets around to building its Mexico wall, they should consider Pampas Grass at a material. The stuff is capable of eating a strimmer, totally destroying a lawnmower, and even a ride-on tractor will grind to a halt when faced with this absurd weed. Unfortunately, it’s a weed which garden centres sell.
It’s nearly spring, and time for the annual battle against a garden.
All joking aside, Pampas Grass is actually the subject of banning orders in some US areas. While visually pleasing at first, the plant is a nightmare in gardens. Similar to Rhododendron, it’s capable of annexing entire countries. This rant, of course, brings us to Kingfisher’ share price and their habit of owning stores with garden centres attached. Currently doing battle with both species of ‘garden centre promoted’ weed up here in our bit of Scotland, feeling kindly to garden centres is an alien concept. Once we identify exactly what type of triffid describes a border, it can be certain we shall rant about it. We’ve a border plant which successfully defeated a petrol powered hedge cutter, along with an electric chainsaw. This year, it faces a 36 inch petrol chainsaw, along with a new cutting technique which may involve a naked flame.
The important number for Kingfisher is currently at 216p. Despite the price trading at 230 at time of writing, we view it as heading down to 216p. The danger flourishes if it trades below 216p, even on the first spike downward. In fact, especially on the first spike downward, thanks to technical reasons. Below 216p and we shall regard it as on a cycle to a bottom, eventually, of 142p. This is not payback for their advertising the weed as “Grass Decorative Plant, Small” but instead, the reality of price movement calculations.
An publicity picture of B&Q Pampas Grass, waiting to murder a strimmer.
To dig their way out of this mess, Kingfisher require grow above 295p, making movement to an initial 324p likely. If exceeded, the price is expected to flourish to a longer term 356p.
