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<\/p>\n#Stoxx50 ‘Nasdaq<\/b> We’ve always been quite fond of Qinetic, partially due to the company once renting a house from us in Ross-shire, Scotland. The reason they needed somewhere for their scientists was the proximity of the missile testing range and back then, we’d given priority to having wireless broadband, a facility very few people offered at that time. And of course, the small boy within will always admire a company who mess around test firing rockets and missiles.<\/p>\n
While Qinetiq are obviously in the military supply field, there is an interesting parallel between their test range and something which actually happened between two islands off the coast of Ross-shire. In 1934 or so, someone in the Post Office received a proposal to speedily deliver mail between the islands, a process which could (and still can) be haphazard thanks to the Scottish weather. The idea was fairly simple, the village postman would stuff a few thousand letters in a tube, take aim, light the fuse, and run. The rocket was to fly unerringly between the isle of Harris and another island called Scarp but the first two attempts failed, the first with an explosion and fire, the second actually getting airborne but blew up on the beach.<\/p>\n
The scientist behind the effort, a German chap, returned to his home country and later became a member of the country’s V2 rocket program. In Scotland, some singed and burnt remnants of the failed mail delivery are on display in the island museum.\u00a0 But the spirit of the effort lives on, Qinetiq opting to use the area to test their military products, presumably without including mail.<\/p>\n
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As for Qinetiq share price, there’s certainly plenty happening in the world which will require military to stock up on their products. Given events in Israel, perhaps Qinetiq shall abandon Scotland to experiment in abandoned coal mines in Wales, trying out underground missiles…<\/p>\n
When we review their price movements this year and month, the share hasn’t been achieving any interesting higher highs but has exceeded the Blue downtrend since 2022, always an essential initial tickbox for price gains. The next stage, according to our rule book, comes when the share price achieves a solid higher high, after breaking a trend. In the case of Qinetiq this is a demand the share price close a session above 380p, by an amusing coincidence also our initial target back in 2022.<\/p>\n
Closure above 380p or perhaps intraday trades now above 383p should next trigger share price movement to an initial smug looking 418p. Our longer term secondary works out at 446p.<\/p>\n
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For things to go horribly wrong, their share price currently needs below 325p and this risks triggering reversal to an initial 261p with secondary, if broken, a hopeful bottom at an eventual 238p. For now, our inclination is to anticipate the best for Qinetiq but then again, we like the company and their share price history of meeting our targets.<\/p>\n
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FUTURES<\/p>\n
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