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Arcontech (ARC) – Close at 142.7p

Knowing when to get out when you’re wrong is just as important when investing as it is when trading.

For weeks now Arcontech’s share price has under-performed the market, and yesterday’s disappointing trading update showed why…

The financial data firm said that this year’s profit is expected to be lower than expected due to the impact of Covid.

They also said that the future for its market remains uncertain and it may be some time until it returns to previous levels of activity.

The market’s reaction was very bearish and Arcontech have broken and closed below key support. With this in mind we are going to close our position.

Gross loss = -28%

ARC Daily Candle Chart