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Time for Ocado to deliver

Ocado's price is positioned to make further upwards progress
January 9, 2013

Since its stock market debut, Ocado has not really delivered for investors, says Robert Craig at www.mbcapital.co.uk.

Having bottomed out in the last quarter of 2012, however, the price has recently built up a head of steam and finally broken back above the 200-day moving average. With this line now acting as support, we expect a push forward to an initial target of 95p, and then 105p. We are buyers at this level with stops below 2 per cent below the 200-day average.