Fastjet (#FJET) - Highest monthly passenger numbers
- 2015-08-09 23:31:56
UK 06:52 Wednesday, 21 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
On Wednesday, following (roughly) a steep share price drop of 10% in the first two hours of trading, Fastjet (FJET) issued a know-of-no-reason RNS. Or that was what it looked like – the actual statement read “The Company knows of no material trading reason for the movement.” It went on to reassure that trading was in line with expectations. With the RNS released at about midday, it looked to have the desired effect as the shares recovered and even closed up on the day.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details the shorted AIM shares (by net short position %) and if this position has increased (red), reduced (green) or remained unchanged (black) since a previous analysis HERE…
As far as shares of FastJet (FJET) have been concerned in the recent past there have been no prizes for being brave or jumping the gun on potential recovery. It can be seen on the daily chart that the recent history of the situation is merely be that of the law of diminishing returns applying to those traders attempting to seek out a lasting floor.
In the last hour FastJet (FJET) has announced that Lonrho has sold its entire holding at 2.85p and that is your cue for a trading buy at 3.13p.
Last week I addressed the chart of FastJet (FJET) which presented clear concise signs that the stock was exhausted with the Rsi below 20. When I sent my piece the shares were 4p. When it appeared they were already 5.25p. As I write the stock is now trading at 8.2p.
FastJet (FJET) shares bounced following passenger numbers released on Wednesday. But on a one year view, even at 5.25p today, punters might feel bemused and saddened.
Although it has certainly been a rocky ride both on the technical and the fundamental front, it would appear that today’s news may mark something of a watershed in terms of the recent history of the Africa focused budget carrier.
Are you may imagine, being a Chartist I have no other means of determining the merits of a company other than the squiggles on the screen in front of me. In the case of Fastjet it had been apparent that a recovery was on the cards, it was simply a question of timing as to when the shares would break the parameters of a bullish falling wedge formation which has been on the daily chart since the beginning of the year.
While there has been an incredible amount of speculation regarding Fastjet shares over recent months, it would appear that only now are the shares ready to deliver an opportunity for the bulls that will not clip their wings.
