This stock really has plummeted. I suppose welding and air and gas handling are hugely sensitive to the economic cycle (Charter website). But is the 67% fall in share price since October 1st more than discounting the potential impact of a recession?

A look at the numbers for Charter plc (CHTR, 326p) shows great cashflow generation and decent asset backing, but little dividend payout. But as in anything only time will tell if the two directors who bought shares on Friday are right.

Non exec John Neill bought 20,000 shares at 345p taking his position to 87,000 shares, and

CEO Michael Foster, through his Mrs Mariam Foster, bought 10,000 shares at 314.25p, taking his/their holding to 33,000 shares.

Only five weeks earlier Neill had paid more than double the price. And Foster paid above GBP 10 in November last year.  So I’d like to see support from other directors thereby building a consensus with which I’d be happier to buy shares myself.

In the meantime, one to watch.

View on Charter plc: Positive- directors buying shares.

Strength of Signal: Medium. Need to see more directors buying to merit a STRONG signal.