Exit Softcat PLC (LON: SCT)

Overview: Softcat PLC (LSE: SCT) is an FTSE 250 listed IT infrastructure provider catering to the corporate and public sectors, with world-class customer service. The Company has around 200 of the best vendors worldwide to provide customers with the best solution to meet their needs. SCT has been a part of the 'Momentum Model Portfolio' since June 21, 2024. Therefore, an 'Exit' stance from the Momentum Model Portfolio is recommended on the stock at the closing Market Price of GBX 1635. as of July 10, 2024.

SCT’s Daily Chart

New Entry Case: Pennon Group PLC

Overview: Pennon Group PLC (LON: PNN) is a United Kingdom-based company, which is engaged in providing environmental infrastructure and customer services. It provides water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; water-only services in the areas of Dorset, Hampshire, and Wiltshire; and water and wastewater retail services to non-household customers in Great Britain.

Technical Analysis: PNN's daily chart shows prices trading above a key horizontal trendline support zone, suggesting potential for further upside momentum. The Relative Strength Index (RSI) with a 14-period setting is around 55.82, indicating bullish momentum. Additionally, the prices are currently above the 21-period Simple Moving Average (SMA), reinforcing the positive outlook. These factors collectively suggest a favorable technical setup, implying potential strength in PNN's price movement in the near term.

PNN is recommended as a new entry in the 'Momentum Model Portfolio' as on July 10, 2024. Considering the technical analysis, support and resistance levels, an 'Entry' is recommended in the 'Momentum Model Portfolio' at the closing price of GBX 619.00 as on July 10, 2024.

PNN’s Daily Chart

Support and Resistance Summary (As on July 10, 2024)

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency as of July 10, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings.

Disclaimer

This information should not be relied upon as personal financial advice by Kalkine on (i) the stocks or (ii) the use or suitability of the model portfolios. Only an investor knows about their circumstances to make an investment decision.

Model Portfolio has been prepared for illustrative purpose only and does not take into account the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, financial situation and needs. Past performance is not necessarily indicative of future performance results. Actual investment returns will vary, and the value of investments can go up or down.