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#Gold #Nasdaq Curiously, back in 2001 when ITM Power was around 7 quid, we provided criteria which pointed to a potential “bottom” of just 155p. A year later in September 2022, the share price reached our bottom, then the market decided to spare itself the inconvenience of a bounce by gapping the Hydrogen to Power specialist below our target (circled on chart), forcing the share down to 133p, providing sufficient excuse for the next 4 years of misery. The slightly crazy thing is news the UK Government have taken an investment in the company of around 10% of the equity.<\/p>\n
What’s strange, this story og governmental backing is being used to explain selling pressure on the share price, whereas in the USA, when the government decides to back a company with equity investment, the result inevitably is for investors to follow suit. There has also been a fairly substantial campaign in the media, all trying to devalue the share price with talk of a 95p target level, perhaps even 60p if the “market experts” get their way. None of this makes any sense, the company experiencing record income levels for 2026 and issuing improved full year guidance toward income which equal an approximate 400% rise in just 2 years. And there is also their contract with NATA, weaving a defence industry layer into this particular scenario.<\/p>\n
From our perspective, the share price needs CLOSE below 126p to generate serious concern, taking the price into the land of lower lows. Such a movement would indicate the potential for reversal to an initial 100p with our longer term secondary calculating at 77p and a probable bounce. But when we consider all the positives, it feels more like a campaign has been launched to manipulate the share price into territory where is could be considered “cheap”.<\/p>\n
In other words, we seriously distrust current price movements, suspecting we’re witnessing a fake shuffle ahead of a positive future.<\/p>\n
Should this prove to be the case,\u00a0 above 135p anytime soon has the potential to tick the first box in a surprise recovery scenario. If we’re proven correct, such a triggering scenario allows for surprise price recovery to an initial 173p with our longer term secondary, if beaten, at a future impressive 212p.\u00a0 Almost regardless of what happens next, we suspect this should prove interesting for the longer term as realistically, once the price closes above 135p, it opens the door for a future attraction as coming from an amazing 392p.<\/p>\n
Unlike the coming Formula1 race from Miami, we think this shall prove worth watching.<\/p>\n
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