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A good turn around fellow investors.
The news of the new buys will circulate and hopefully quell the negative outlook somewhat.
If we can breach the resistance then maybe we will see 400 soon.
Keep the faith.
https://ibb.co/FYDVjyR
Yep..next one 380 ...bring it on ., maybe Frasers with the next director buy !!!! its not an if but when , when the battle starts , i think Camelot has sent a message to Frasers with their 2
huge buys.....and I suspect more to come......
Touching that resistance now. Hopefully we can close above it today
If it was not for the fact that this has been kept at these low levels for so long now, I would wonder if it was due to a fear that they may take it private and stiff small holders, like a few outfits have done recently?
At least three names come to mind, and only one in a similar space to ASOS.
The one you will all be aware of never even had short interest as high as this, nor for that matter, anything like the level of inside buying, involving more than just one party, as we have seen here. Not to mention, a clearly failed business model, which IMO, ASOS simply does not have.
As I keep saying, it is a real mind-f*** (put the censorship in myself, to save the algo here, lol).
@orgazoid you are indeed correct, and that would be the next resistance level after the more recent wedge I mentioned has been breached.
https://ibb.co/9WKvsyg
It's extraordinary but is it surprising with so many 'big boys' involved clamouring for their positions? Before the turnaround fully takes hold. Not suggesting these markets are bent of course lol.
Meanwhile Barker has bought 709,500 shares in the past couple months roughly 2 and half million pounds worth give or take. No small top up. That's good enough for me. He knows the ins and outs of the business. He isn't buying for tomorrow but what is to come.. it also takes another nice chunk off the market.. free float can't be big here.
Yes it is extraordinary.
Perhaps Barker's motives are questioned and thus do little to mitigate the perception of risk.
It does tell us that no take out discussions are taking place, otherwise barker, as an insider, wouldn't be able to buy. Also, tells us Barker remains convinced there's a bargain to be had here - even if the market refuses to recognise the value.
DYOR/GLA
IMO, absolutely yes it would. Although I remain somewhat baffled that the continued large purchases of other insiders has kept this one in the low trading range it is in.
It is quite frankly extraordinary.
I am remaining disciplined (for now!) and holding fire, based on the chart technicals, but I would rather be long than short at this price, given all the 'known knowns', I really would.
Certainly do not see a good risk/reward ratio for fresh shorts in the sub 4 quid level, but I am no stock market guru, and time will tell. Anyway, GLA in the meantime.
Large director buy doesn't move the price at all.
I wonder if Jose bought whether the market would react differently - even though Barker will be looking at exactly the same figures etc...
To me looks like that wedge can be traced back to 21st December. Not quite as steep as in your screenshot. Very good chance I'm wrong but from a chart perspective it looks like we might have a bit longer before something happens (for better or worse)
There's always the resistance posed by the wedge that has formed.
https://ibb.co/b7ykfj1
Make a break through the diagonal and this would be another positive sign.
Neither am I but I would agree with the 360 mark.
That's where the two previous highs resist.
I'm no Chartist but the resistance line looks around 360. So needs to clear that to break the downtrend that's been in play since January.
Cheers Jamess :)