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Previously writing on security and surveillance systems group Petards (PEG), in September with the shares down to 16p I noted the balance sheet position despite noted profit and concluded also cautious of its still reliance on a second half weighting, I currently avoid. Now a “Trading Update”…
“Petards Group plc (AIM: PEG), the AIM quoted developer of advanced security and surveillance systems, is pleased to report its interim results for the six months ended 30 June 2019” and “remains confident in the group's future prospects”. The shares have currently responded to 16p, capitalising the company at £9.2 million – er, approaching 18% down…
At first glance it may be said that shares of Petards do not seem to be the stuff that bull legend is made of, but closer inspection of what is clearly a relatively illiquid situation does suggest we are looking at a decent recovery play.
By rights we should have been witnessing the big breakthrough on the charting front at Petards as long ago as last summer, with the gap to the upside the shares managed through the 200 day moving average.
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