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BMY.GB trade ideas

BMY - Bloomsbury Publishing Accumulation in Phase ETechnicals See graph for evidence of 10 year Wyckoff event that is currently reaching a conclusion. P&F count for the trading range gives an upper target of 901. I would expect we encounter some resistance as we move towards the previous all time high as retail traders look for a break even sell. A final back up test is would also a possibility meaning price would retest the 200 region. Fundamentals Sign of strength in recent weeks has been catalyses by the announcement of partnership with Spotify for a series of Audiobooks to be rolled out next years. Years on year profits increasing with very positive rhetoric coming from higher management within the company. Further acquisitions in the coming months haven't been ruled out. Revenues grew by 15% to £142.6 million (2016: £123.7 million) Profit before taxation and highlighted items1 of £12.0 million (2016: £13.0 million), above market expectations Final dividend of 5.6p per share making a total dividend of 6.7p per share for the year (2016: 6.4p per share) Diluted earnings per share, excluding highlighted items, were 12.63p (2016: 15.24p) Strong cash generation with net cash of £15.5 million at 28 February 2017 (2016: £5.2 million) See interview here with Nigel Newton (Chief Executive Officer) www.youtube.com Bloomsbury Publications is trading at 233 on the London Stock Exchange at time of publishing. - LSE:BMY on the London Stock Exchange
LSE:BMYLong
by ColinGallaghere5