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Hi mcadder thanks for posting, was the source the mirror? If we forget the noise and focus on what the minister says, it is a huge positive and signal towards team resolute. I pointed this out as a section within the defence industrial strategy when it was released. I think these campaigners (including unions) who have stated they must be built British do not yet understand what team resolute has to offer for British jobs. Thanks for posting and thanks all for sharing chart info
Thanks Lottie123
There seems to be a lot of day traders and a supply of shares from ready sellers in this company.
Once we see a couple more significant contract wins I think it will change the dynamic
Disappointed over the SP retracing back to the 42p level. Firstly, I did not realise this contract was already in the pipeline when the Scottish Yard went under. Good it was re-born but its not all together a new deal. Looking at the make up of the consideration, I notice a chunk was in shares. I have not seen if a lock up clause was put on these but if not, that could explain the large supply of stock into the rally. I am relaxed about the pull back but should we close below the 42p level, I will be disappointed but not alarmed. A close below the ascending support, now around 38p, would make me far less ambivalent
however. Still in for the long run.
Campaigners demand built-in-Britain guarantee over £1.5bn naval supply ships
EXCLUSIVE: The long-running row over the Fleet Solid Support vessels has taken another twist following a written parliamentary answer from a Defence Minister
BY BEN GLAZE
21:00, 20 APR 2021
Campaigners tonight piled fresh pressure on ministers over a £1.5billion deal for three naval supply ships.
Defence Secretary Ben Wallace ruled last year that the Fleet Solid Support vessels would be warships – meaning the Government could award the bumper contract to a British yard without having to offer it to international rivals.
However, ministers are refusing to say the contract will be a “UK-tender only” – meaning foreign firms could be involved in building British warships.
In a written Parliamentary answer last week, Defence Minister Jeremy Quin signalled overseas companies could benefit from the deal.
“The detailed contract requirements are yet to be published but we would expect substantial UK involvement in any successful bid,” he said.
“We would encourage interested international partners to work with UK firms to bid”.
The revelation triggered fresh dismay among unions and MPs who believe British workers should benefit from the lucrative order.
Former Defence Minister Kevan Jones, who chairs Parliament's cross-party group on shipbuilding, told the Mirror: “For something as important as warship design and construction, the Government must ensure this is a UK-only tender.
“It is time for the Government to support UK shipbuilding and offer yards and supply chains the assurances they need to invest in skills and apprenticeships for the future.”
The 40,000-tonne Royal Fleet Auxiliary vessels will resupply Royal Navy warships, including the £6.2bn Queen Elizabeth-class aircraft carriers, with food, ammunition and explosives.
Thank you Si
It certainly seems like we are heading in the right direction
Hopefully the corporate news flow in the coming weeks will provide more solid support to take us higher.
I don’t “do” charts but can see we are creeping or trending up.
I’m hoping Mr Poots provides the Company with a consent to develop the storage project because that will surely unlock so much including work for the yard in Belfast.
FWIW, my view is it's just doing what it normaly does after news.
Filling the gap left from Fridays news and then slowly retracing until the next bit of news.
Here's my chart of the last 12 months with indication of various news items.
https://invst.ly/uj5q8
Also, keep an eye on the RSI at the bottom and see how once it gets up over 70 there's a natural fall off until its gets back down to the low 40's when it starts to slowly build back up. Rinse repeat until the next news event.
Long term, the 50ma is nicely above the 200ma. Short term ma's showing the pull back. But , meh!
And all way above the long term trend line. Which is nioce.
All, IMO. Si. :)
Over to you Lottie, for I'm sure, a much better interpretation.
Be good to get Lottie123 view on the recent share price movements please