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Thanks W, that makes sense. I asked as you made a mention elsewhere about buying if a higher price were reached (13p it was there?), but I see the difference here. I've bought on the dips at eve so interesting that in fact you'd more or less do the same with the proviso that you'd be looking at the chart at the time first.
I added some more at 3.6p as that to me was significant at the time last week.
5.5p would be very bullish if it came quickly, (say, within the next 2 weeks) but the potential from a TA pov is quite limited as you have go back literally years before we are even at 10p, so I am happy (ier) to add sub 4p rather than load up at 5-6p just because of the gain likely available, assuming all goes well.
But (in true TA style) it depends. it depends on how the chart forms to get to key price points and over what time scale.
So like In say, 5.5p in 2 weeks is a much, much more powerful indicator than taking 6 months to get there, even though the price would be the same.
And I understand User's frustration with me because of this constant flip flop, but the difference might be, my flip flopping is based on shorter timescales than some here and dare I say it, its not emotionally driven. So if there is a few days of falls and it hits a price where it makes me think more is likely coming I just sell. If a few days later its all reversed and i feel confident rises are on the way then i'll buy back in.
Every trade to me, is a stand alone transaction and has no bearing on the previous one. So i play it as i see it at the time.
So i don't exhausted (as UN said he felt), I don't get (overly) frustrated when i get it wrong simply because I went into the trade with a plan and the plan allows me to remove the emotion out of the transaction.
All theoretical Wyn but is there a trigger price where you would feel compelled to buy more? (I mean higher price going up, not bargain basement if there were a fall)
Thus far CI, EVE's low at 2.9p has proved to be a bottom that has been confirmed with an RSI pattern and the start of a reversal of the downtrend. This was strengthened further when there was a close above 3.5p
This now makes 3.5p a support, so we would not want a close below that price.
I highlighted 3.8p as the next target and we had a close last week at 3.9p and a retrace back to 3.51p (testing the support), yesterday it closed at 3.8p so its facing some resistance to get to the next small target of 4p plus (its quite choppy around 4p-4.15p so I would want to see a close above 4.15p to bring the recent high of 5.05p into play)
Broadly after the bottom was put in at 2.9, 3.15p showed to be a strong support so if 3.5p did go I would expect 3.15p to be the next support
Overall the chart is still confirming a reversal of the downtrend rather than a dead cat bounce and a close above 5.05p then does start to put new recent highs (6p plus) in the frame. But we are not there yet, but from a TA POV it looks ok for more rises rather than falls.
@Wyn- any new thoughts on recent price and chart movement for Eve? It looks like the previous seller is out now so seems we are generally experience buys across the board but not sure just my guess since the sp is up from the low 3s.
Unless they've dropped Boots – which seems unlikely..
Thanks for that D, hopefully the news flow will be sufficient to propel the stock upwards prior to the next official TU.
Happy to stick to my original timeline
'cemented with further progress in 6 months time '
In fact Wyn, we usually have something around January. We had one 21/01/2021 Eve Sleep plc: Trading Statement (which was announced early December 2019).
And before that perhaps a small Director purchase, due shortly and only if the pattern follows.
Incidentally, last year the Boots promo was announced in the TU equivalent of yesterday's TU. Nothing this year so news on this year's offering must be due very soon as gifts should be on sale in a month or 6 weeks max. This was in last year's TU:
'Developments since the period end
The Company expects to benefit from further product launches and new partnerships in the second half of the year. Its increasingly strong brand positioning around broader sleep wellness has enabled the Company to develop a new 'well slept' range of eve sleep gifting products exclusively available in Boots stores and online. The new product range, which launches in October and will be stocked in some 446 stores across the UK and Ireland, as well as Boots online, represents a first for eve, further amplifying brand awareness and customer penetration.
In line with the strategy of building out its product range into the wider sleep wellness category, eve will be launching a weighted blanket in the autumn to aid a good night's sleep under the new 'well slept' range of sleep accessories, as well as adding to its ranges of bedroom furniture and bedding.'
I don’t know why anybody that looks at charts would think that the SP is going to go lower from here - 2.x/low 3s are history IMO.
We have excellent alignment of Technicals and Fundamentals:
Fundamentals: Stronger results ever last year, stronger results so far this year (underlined by increased cash) and on course for sustainable profitability next year. Directors are buying, including a large chunk in low 3s by the CFO.
Technicals: Clear bottom is forming. Exponential moving averages (8-40-105) are lining up for an uptrend on the daily chart (already in uptrend on the 4-hour chart). Longest horizontal hold on the daily chart since the last peak to over 9p. Cup & handle being formed.
This is no time to exit - is time to enter if you are not in. All in my opinion ofcourse.
Sorry you feel that way UN, it not my intention to "play the game" in a way i think you imply.
I do spend more time looking at the downside on a stock as I believe in capital preservation and at the same time, I believe the time the individual holds a stock to get the return they desire is a very overlooked but crucial component of making money too.
So i try to be as sure as I can (given its a crap shoot), before I buy and then when i do, I use charts to try and give me a little edge as to the entry level.
Yes I did buy pretty low but I said at the time I had and that it was based on the chart and I also stated my reason was the next 2 updates was my timeline, one has just gone and its on the better than expected side of OK, but not a barn burner, so hopefully it will be cemented with further progress in 6 months time with the next set of results
Thats where I am with the stock.
So yes I blow and cold but so does EVE, so maybe i just reflect EVE?
Anyway, good luck in your other purchases.
Evening username. We all make our own judgements and I’m aware that people have become jaded with eve in the past. Sorry to hear you’re out but also hope you’ll keep an eye on the board. I’m ahead here so content to wait for what looks like a bright future. I imagine there’ll be news soon on gifts etc to keep eve around today’s levels and then of course, *the next update* - as ever. 2022 Should be profitable; we are closer today than we’ve ever been - assuming it arrives on time.
Atb, D
Your optimism is somewhat sceptical Wyn, sorry, but for months and months and even more months you’ve tried to play the “on the fence” game but slighting to the negative as I have challenged you previously.
I assume that you have now invested once it hit the bottom 3’s. Good on you, you’ve made some dosh, but.....what a surprise......you’re now (over the last 2 or 3 weeks) upbeat. Well how about that.
I only really say the above to others, as I get Wyn’s game.....to make sure you (the others) are all still and will be only making your own choices by your own research. That of course, to be unbiased and fair, includes our views on this board to create judgement and decision of our own.
Personally, the sp did better than I thought over the past couple of weeks or so although it’s been quite telling over the last few days...... uninspiring.
Including/today due to “ok” results.
I’ve been with Eve for way over a year now.... seen the highs (hindsight as ever to grab and run) and joined in the lowish lows.
This still has another year to play out I reckon so on that note I’m done for now. This is close, if not at, the current high, which, compared to previous highs is pretty low and I’m exhausted by it. Such a shame too as I had high hopes this would easily reach 10’s. Seems as though the market still has an issue with eve.
Money is money and having to practical for once..... see you back here sub 3’s. If you look at longer trend lines you know what I’m saying.....short term mini boost to then drizzle out again over the next few months until they turn that pinnacle corner.... H2 ‘22. Gutted as I am. Had such high hopes for Eve..... but reality has hit home and the market just doesn’t want to allow it yet.
Gl all whatever you decide.. I’m out and done and watching from the sidelines.
Side note.... if anyone thinks I’m trying to downbeat..... just look at my history.... I’ve always been upbeat or working with TA as a gauge, I’ve even emailed Eve with my own suggestions of product, so I’ve been right behind Eve till this last.... uninspiring TU
To anyone new ( even old) ... look at the long term history and charts.... it’s getting there but still a while to go..... easy to get over keen.... my goodness I know that one. Dare I suggest it.... but grab, go and then watch for a better re-entry
Penultimate words to DG.... you’re a lovely genuine guy from what I can muster but wool can be pulled over your eyes.... just be mindful of that and make sure you’re not “easily” swayed.
Final words to Wyn.... I have no issue with you..... you’ve played the game. Fair do’s. I’ve just seen through you for a long while now... we’re all here to make money, right?
Jeeez Wyndrum, if it were not for our other shared investment (XSG) I would break out the Baileys. As it happens I was also expecting far more from EVE today as no doubt were other investors here. None the less I will wait with patience for your forecast 4-4.5p. Take care.
Surfie... we are up to 3.8p!!! Ta da!!!
In another few months, when we are comfortably in 4p-4.5p range, how we look back and laugh at 3.8p! :0))