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#Gold #DAX Back in 2020, the “joy” of spending a week in hospital sharply suggested I take a nasty and biased look at the company who supplied prepared meals for patients. The food quality was awful and when the nurse took away the untouched pretence at nutrition, she left me with various takeaway menu’s, along with instructions on how to get everything past the lockdown efforts taking place. It transpired, the local Chinese takeaways had everything running seamlessly and an ambition to do a hatchet job on the supplier was forgotten in the excitement of escaping incarceration in our local germ factory, a hospital.<\/p>\n
We’ve had a few emails asking our opinion on Compass Group, apparently the ultimate owner of the NHS slop masquerading as food in 2020. Time, thankfully, gives the opportunity to take a gentler attitude to their share price but unfortunately, from our perspective, the company appear poised to experience some potentially damaging reversals. Given the emails we received were asking about whether we regarded the share as “cheap” at current levels, the answer is a resounding “nope”. Instead, the share price is going to need enact some quick talking to escape from its current adherence to the school of “lower lows” and visually, we lack confidence.<\/p>\n
Some effort has gone into creating a visual sense of 2,000p being “bottom” for the share price, probably an entirely fake notion intended to tempt folk into the mindset of deciding “this is cheap”. We’re not convinced, strongly expected movement below 2,000p shall suffice to trigger reversals to an initial 1,932p with our secondary, if broken, at a potential bottom of 1,765p. These target levels, while 1,765p almost makes a bounce certain, do bother us. The Big Picture suggests, should 1,785 break, the share price shall find an attraction from an ultimate bottom at just 1,032p.<\/p>\n
And thus, from our perspective, we’re not inclined to regard Compass Group as “cheap”. It needs above 2,470p to escape this shambolic situation and we’re not inclined to hold our breath waiting.<\/p>\n
Finally, the photo below was taken here in Argyll at 8am on Monday. In the distance, the misty mountains are snow covered, the sea was glass calm, the temperature -1c, and the quartz arch in the front garden was graced with a rainbow illuminating the ivy. Needless to say, by 3pm, it was raining again!<\/p>\n
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