Certain institutions definately trade Invensys regularly as well as invest, as us Level 2 traders regularly see 5m orders on the bid which belong to them. The RNS's clearly point this out to anyone who pays close attention with probably bad trading calculations(just going under 3% notifiable interest level.....probably by 0.0001% or sommert daft) meaning they have to issue RNS's at times? How many other times have they traded in between the 3-4% levels without having to issue an RNS ??
In my opinion, Invensys are definately gonna move higher than current levels still. My main reason being is that there was a huge amount of buying in the last few days at the 17.75p / 18p level meaning the 'bigger' boys aim to take this higher still. Theres virtually no selling at all and even though the bids don't look particularly strong, theres nobody prepared to short Invensys currently. I certainly have a CFD trading 'long' stance anyway.
The same happened last year and ISYS went onto to reach 21p before peaking. I expect similar into next year with a peak around late January/early February when generally markets seem to top-out.
Recent US data yesterday showed new factory order intake had un-expectedly risen sharply, meaning this should have a furthur positive effect on Invensys' order intake (which Invensys has already said has improved recently)
Apologise for my lack of TA as this is a TA based thread but just felt I would share my views anyway.
And finally, the 3 month(daily) chart for Invensys certainly looks mildly bullish too. MACD looking to turn up now and clearly trending above centreline 0. The shareprice is creeping ever closer to recent highs at 19.75p.
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