In June Castleton Technology (CTP) argued “another year of significant progress” and “the combination of a healthy pipeline of new business, together with our new development capabilities and our improved organisational structure, give… confidence for the year ahead and… expect that we will show continued progress in both our financial and operational metrics when we next report”. Now is a next report…
From technical perspective it can be seen on the daily chart of Castleton Technologies that this has been a steady pair of hands for the best part of two years.
As far as the daily chart of Castleton Technology (CTP) is concerned it can be said to be looking extra strong, given the steady progression for the shares within a rising trend channel which has been in place since the autumn of 2013.
It’s been a strange ten days watching the goings on at Castleton Technology (CTP). From October 21st to October 28th the company’s share price over doubled, from a close of 1.05p to an intraday high of 2.3p. This was at 9.30am on Tuesday, immediately before the release of this RNS, in which the directors claimed to know of “no reason for such movement”. They then slightly contradicted themselves by going on to explain they were in discussions with potential acquisition targets, the results of which might result in a transaction “in the near future”, which would be funded by an equity funding. And lo, two days later the same board announced its plan to buy Documotive for £4million, together with a supporting £5.5million placement. If you thought this news would have smacked Castleton’s share price, well, you’d be right, but only just…
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