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After selling one stock at a profit, I've added another 115 BATS shares.
With solid earnings, decent news regarding non combustible sales & a 9% dividend yield !
What's not to like ?
Bit of a dip today Stargate. 7% rise would be great!
Outside bar definition , is where the range of the price bar , has a higher high and a lower low , than the previous day. Depending on the time period, this definition can also apply to weekly and monthly price bars.
Outside bar days on 13/2/24, and 15/2/24, which signifies range expansion. Resistance has meant that the 15/2/24,closed at the midpoint of the 13/2/24 outside bar. The 180 bullish setup, for 15/2/24 , occurs where close, is in bottom 25% of previous day trading range , and close is in top 25%, of 15/2/24, trading range and sp, is above 10 day and 50 day moving averages. The trade is made just above the 15/2/24 outside bar high at 2432. Since the high break, has not triggered, the setup is still open, for a break at 2432 or higher. If triggered a standard rise of 7% might be expected. DYOR.
Looks like the SP is coming back as the day goes on Stargate
Projected BATS, volume today increased to 2.2 million, however, what I found last Friday, was that a lot of additional volume , was added, after 4.30pm, and before 7.00pm. Still relatively low estimated volume, but potentially subject to revision upwards, for what may be a Friday phenomenon, after 4.30pm.
Nice Stargate, lets hope we see some support later in the day!
BATS and tobacco sector down today. On current volume, I project end of day volume in region of 1,300,000, which is lightest volume for 35 days. Sp, is in vicinity of day cy-2, open price of 2404.5, which I would expect to provide some support today.
Awesome analysis, thanks Stargate
Imperial tobacco went ex-dividend today and news article advised that imperial sp, fell 3.4% as result ex-dividend. This fact confirms the tobacco sector would have shown a rise rather than small loss, today. So the overall tobacco sector, chart is more positive, than appeared today.
Barney182, BATS, today was the strongest tobacco sector riser, as well as closing one point above recent pivot low. The tobacco sector today printed a japanese doji(very small difference between open and close, and large h-low difference)(14/368). This is signicant because it often signifies smart money taking an equity position. The high and low of the doji, each can point direction of price action. Close was above midpoint of doji, high/low, which is bullish. Overhead supply from previous trading volume , 2477-2570, and volatility based top bollinger band likely to be at 2465 tomorrow. Not forgetting recent sp, top at 2499. Sp, requires to close above doji high of 2432, to take a position, bearing in mind nearby immediate resistance 2465-2477.
On the move up today !
Well done. I am surprised that the SP did not at least consolidate around that rise. With hindsight, I would have sold up too and bought back in lower tranches. Never mind. Will add more if we go all the way back to the mid 22's, although having a fair lot of these already, I would rather not have the chance! GLA.
Hi Stargate, where do you see BATS SP going in the next few months in your opinion please ? I see it peaked in Feb on the results but is there any expected spikes imminent?
Pendragon, dropped back below pivot, which confirms the importance of waiting for a closing price for confirmation of pivot break. Sp, still above recent pivot low, and within the recent retracement price area. WINE, I mentioned yesterday, still making new high today, 1%+. Retail sector down today.
Out of curiousity, looked at retail sector today and noticed a motor retailer Pendragon, sold all its motor retail for 397 million, to an american coy. A special dividend of 24.5 pence is to be issued sometime in first two quarters of 2024. Pendragon, will transform into a pure software coy, concerning motor retail software . Chart goes up from left to right , so in bullish uptrend. Sp, broke above price pivot today, and currently very active with a retracement area. Retail sector chart, is still not in a definite bullish phase, as defined by the sector pivot levels I already gave recently.
Fog, "nice analogy but some stocks have a funny habit of retracing back/moving up to key historical levels...They are after all, for the most part, bought and sold by algos." - You're quite right. I was being a bit provocative, though I do believe in the long term, you have to look at fundamentals and where the business is headed. Short term there is a lot of following the trend. And as more and more people use TA so it self fulfils.
Posted, on CURY, today. Retail sector technically in downtrend , requires to close above 2422, to change to positive. Reviewed top three risers in sector. Only WINE, was in a secular uptrend from left to right of chart, and making new high.
WINE, has forged a large bullish reverse head and shoulders, and is beginning to break out upwards, on the chart. Volume seems to support the bullish scenario. WINE. price target is difference between low of the head(bottom), and the shoulder line, added to the shoulder line.
Star gate, great TA as always, any chance you could take a look at CURY and post your thoughts?
I followed the volume record until 4.30pm, when it was close to my second volume projection and checked 6.56pm, when there was a large increase in figure to 4,401,000. Best guess, is that there was a substantial amount of volume added some time after 4.30pm. In future I will take the in day volume figures, with more than a grain of salt.
Fogthemogg, thanks for dismissing the "flat earth", concept of sp, movement. My earlier volume projection, is revised to 2,165,000 for today. Now revised from lowest volume for 30 days, to 24 days.
Hardboy, nice analogy but some stocks have a funny habit of retracing back/moving up to key historical levels...They are after all, for the most part, bought and sold by algos.
Of course it gives back half its gains from yesterday, it's the f'ing FTSE!
Sp, fall today on lightest projected volume for 30 trading days , projected volume for today is 1,840,000 approximate. Serious sp, movements, are usually supported by heavier relative volume. Higher sp, bottoms, than the previous seem likely.
Jessie Livermore, the famous american speculator, was surprised that most people wrongly assumed, that he did not keep an interest in the volume of shares traded. Volume, at its basics, reflects fundamental interest in the equity. Without volume, there is no fuel, to represent the fundamental value. Successful traders, from the early part of the twentieth century, admitted that they exploited the phenomenon of trends, invariably to take profit out of middle section of the trend, effectively, missing out on the first third and the last third. Any viewed chart, reveals three basic sp, movements, downtrends, sideways congestions , or uptrends. A 50 day simple moving average, on trending shares, will invariably reveal long periods when the sp, is either above or below, the moving average, which supports the concept that profit, is made from those long periods. No one is suggesting that trends do not represent fundamentals , or volume of shares traded, for that matter.