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The small investors who jumped the gun and started shorting the markets,have got burnt.WHEN they fall by the wayside,in will come the big Guys with big shorts and markets will fall.Probably next week. Technically 25500 on the Dow,3030 on the S&P,and Circa 6200 ,(already reached it anyway) on the footsie,will be the peaks (circa). So Centrica has to roughly Friday to reach as high as it can.That's what the tea leaves say anyway. As always,it's just an opinion.If I got all things right all the time,i'd be a multi-millionaire ,and not posting on here. I'm here to learn from others as well.
Cannot believe the AA being the iconic brand it is in so much trouble one would think it is too big to fail. Centrica is similar and soon the two will be " united in SP and outlook" Infeel the SP will hit 15p, but double at some point.
If we get through early June without the expected sudden downturn in all the main indexes,then it could be ok. But it will be a dangerous time to hold anything early June,as technically as well, the odds are on a fall. We shall see.
Pipedreamer Don’t see it going that low, perhaps high twenties again, but who knows tbh. Do think there is more upside potential but unless they sort the main issues out (as per my previous post) then the investment case for me isn’t there. Such a shame for long term holders, the potential IMO is huge but the BOD just aren’t up to it, or haven’t been up to now, will O’Shea be any different, only time will tell but as yet I’m not seeing it!.
Yes that just about sums it up.Not a lot of chance of the s.p. growing from here.Personally i'd have a look myself at 21.5p,but I reckon i'd only be a buyer at circa 15p,and at those levels it could be very risky punt.Perhaps too risky.
It is the level of debt combined with IMO insufficient operating cash flow and a very weak balance sheet that need to be addressed (some additional cash in the order of £500m). Most press articles state incorrectly that the divestments will be used to reduce debt, however the company have said many times now that it won’t, it will be used to fund their home strategy. So no divestment no strategy development, more drawdown and increased debt which impacts their credit ratings. Lots of other issues creating a perfect storm that at the moment they haven’t really provided any clarity on how they intend to move forwards and address the key issues. That said, for most businesses 2020 will now be a right off so looking on the bright side their managerial incompetence will be brushed under the Corona carpet, most of their issues occurred pre Corona, and it’s a play on 2021+. This is going to just drift IMO until they update the market, it’s been over a month now and uncertainty will hit the sp IMO.
The rise from 30.21 to 41.45 was a 37.2 % rise,very close to an Elliott wave 36.7% move.So a rise of that amount is not to be sniffed at,as long as you bought at 30.I had 31.5 as a low,and a possible rise to 45/48p, but changed my mind and I thought it would go lower from there. Having reached 41.45,there was no follow through,and a very weak pattern has emerged since.It's running out of time. Best I reckon is to hold if you are still bullish ,but if neutral like me, do what i'm doing, and sit back and observe the next few weeks.
Oh Dear,things look bleak.The rally from April 22nd on the chart, started off as a bear squeeze,but since then it has tracked sideways with even a slight downward tilt. it looks as if it's going to be difficult to reach the 45 to 48p range,before all the markets start to fall from the beginning of June onwards.Unless they suddenly announce at the beginning of June that they have found a miracle cure vaccine,traders will start to short again (everything).A Vaccine find is probably the only thing that would compromise a chart reading. As I do not hold a position in these shares (yet),and the fact that many are holding loses,i do hope my reading is wrong. Remember that no one persons opinion,even on here can move a market. I do see that a final move down would signal the bottom,but what shape will Centrica and the rest of the market be in then ?.At 0.4 to 0.9, we run the risk of the R factor going above 1,and seeing everybodys lightening response to a relaxing of the Lockdown,getting to 1 doesn't look an impossibility !!!!!!!!!!.And then what,Lockdown again?. What happens when the Government stops paying employees 80% of wages ?.Companies will fold wholesale,all these problems are still there,they're not going away anytime soon. Difficult times,for everything and everybody.GLA,stay safe.
Here's what Shares Magazine said at Xmas when they made it one of their top picks for 2020.
Whether the latest strategic change of direction at British Gas owner Centrica (CNA) is yet another false dawn or a genuine reset onto a more profitable path, the shares are so beaten up that the risk/reward ratio here is attractive. There are early signs that greater retail customer focus is having a positive impact on market share. For instance a net 20% of households switched to British Gas in November as it offered one of the most competitive tariffs on comparison website Compare the Market. Peter Earl, head of energy commented: ‘British Gas has put its foot on the gas in November, accounting for more than a third of all switches on our platform.’ The company is exiting oil and gas production as well as its interest in nuclear generation and is expected to provide net proceeds of around £2.7bn, most of which will be used to reduce the firm’s £3.37bn of debts. Centrica is targeting £1bn of annualised efficiencies over the 2019 to 2022 period, a third higher than its prior target. It estimates these savings will cost £1.25bn to deliver. If the new initiatives work they will result in a rough £20 saving for customers on dual fuel contracts, in real terms, propelling the firm into the top quartile cost position compared with the competition. The firm has identified three fundamental trends which are reshaping the energy landscape today and its strategy is founded on an analysis of these changes. The energy system is becoming more decentralised as renewable technologies are deployed on a smaller scale. At the same time customers have more choice about how they obtain their energy and the services they require, all aided by technology which puts the customer in control. Positioning its services at the value-for-money end of the price spectrum should maximize the firm’s strong brand awareness and plays into the company’s strengths. Centrica is the largest gas supplier and installer of boilers in the UK and has the widest range of ondemand services through its Local Heroes platform. From an investment perspective, the most important consideration is that the market is sceptical on management achieving and keeping the cost savings announced, leaving room to surprise on the upside.