The People’s Operator: Above 50 day line targets 15p

1 mins. to read
The People’s Operator: Above 50 day line targets 15p

It is difficult not to get caught up in the celebrity presence at The People’s Operator (LON:TPOP). But of course, this is always a key part of the private investor experience as far as the stock market is concerned.

It would appear that there is a decent amount of momentum associated with The People’s Operator, which is not too difficult to understand given the announcement in January that the founder of Wikipedia, the world’s sixth most visited platform, is to “lead” the company. With Jimmy Wales on board it is rather difficult to imagine that the mobile phone group, whose profits are to be donated to good causes, will do anything else other than flourish.

This is said on the basis of the hype of having a god of the new economy with a stake in the group, as much as anything else. Helping inspire confidence in the near term on a more practical basis is the fact that there was the announcement last week of plans to raise £1.6m at 8p, with warrants exercisable at 15p.

Looking at the daily chart it can be seen how we have a rising trend channel which can be drawn from the middle of January, with the coincidence being that the top of the channel is implying a 15p target over the next 1-2 months. At this stage only sustained price action back below the 50 day moving average now at 7.34p would really suggest a delay to the upside scenario was in the offing.

tpop chart

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