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The share price of CPI is going on a parallel downtrend from 01-Mar-2021, based on pure technicals and my opinion is it is just the market momentum and no major flaw in the company or the revenue. It is pure market momentum.
All we need is BREAK ABOVE the parallel downtrend, in particular 41p and above is going to be a major Bullish trend that could push up all the way to 60p. In terms of short, it is less than 1% at the moment. So UPWARD MOMENTUM anytime! Just Patience Needed.
Wrongky thought that friday was a breakout of that top trend.
We are still on a falling wedge pattern indeed similar to March.
@eatstocks, I don't which pattern you are looking into.
The daily trend shows "descending channel pattern" from 01-Mar-2021 and not wedge. Generally descending channel patterns are short term bearish which pulls the stock to lower levels, but a long term uptrend continuation is most expected after descending channel pattern. We have to break above the upper trendline of the descending channel, as we speak breaking above 41p this or next week show a bullish long run.
Let us see how it goes.
Waiting for upward movement is key, but if risk more risk appetite why not grab some before it starts moving steady up. In my opinion, 75p to 90p is most feasible in 2021. Just a bit of mass BUY momentum needed here.
https://ibb.co/wrkrcY1
I imagine the blue dashed line is the bottom of the channel you mentioned.
The 2 yellow dashed line is the falling wedge also bullish
Eats "Wrongky thought that friday was a breakout of that top trend.
We are still on a falling wedge pattern indeed similar to March"
Case in point, you never get anything right.... Amateur
Laurenti and PassmoreS have trolled this BB since June this year (oddly joined on the exact same day). I have traded CPI successfully since last year's summer. CPI is close second biggest profit I have made in the last 2 years.
@PassmoreS, I gave the detailed information because eatstocks mentioned in his post of "falling wedge pattern", which is not the real case.
Currently Capita is captive in the hands of daily margin players and short terms. When the upper trend line of the descending channel gets broken and clears through 41p let us wait the situation. Note, we are moreover at the share price that we saw between last May 2021 to August 2021. That shows major upward breakthrough is due.
Hope the best for all Capita holders and whoever is going to jump in on massive potential realisation.
Tradeguru's no one in their right mind takes eats analysis seriously. He can't even read his own charts correctly.
Any break you mention is hugely reliant on a mass buy momentum. Unfortunately the red sp trumps all of that at the moment
29-Mar to 31-Mar is just an extension, so I just exclude / ignore...
I consider the continuous and most hit ones as the solid trend/pattern.
Opinions differ, who know you may be very well correct too :)
"29-Mar to 31-Mar is just an extension, so I just exclude / ignore..."
That was my opinion too at first, here's my last assessment before today's pullback https://ibb.co/mqpmWrS
Thursday Friday seemed like a confirmation of breakout, however was hoping for a further rise but daily candle did close and open over the trend. The pullback Monday often happens on wedge breakout where price comes back to hit the trend line before continuing. Clearly did not happen here.
Which leads to conclude there was no breakout and we are now confirming the bottom trend line of the wedge pattern.
Another True and Real fact is....
We need more buyers in CPI than just chatters :D
I hope no one can disagree with me on this ;)
Castle I was similar with Stagecoach however got in at .44p after positive news and it dropped 20% in a matter of days. Ignored the trolls etc and doubled my investment. I hope to do similar here but only time will tell !!
Hopefully it's had a nice reset/kickstart today. My guess is that it fell enough to clear out some sells and trigger some buy orders.
Yes I'm not a day trader anyway I tried that a number of years ago and lost a fortune !! We will see how it plays out fingers crossed for all holders there is a few quid to be made.
Sold BT - £29k of shares - sold £53k. Bought at bottom. Looking to buy others now. Capita seems pretty solid and looking at Just share... this seems to be better IMO.
Bought £10k.
Good luck, I genuinely believe this will turn . And is turning, the upside is far to great than the downside.
Good updates and business keeping contracts.... worth a punt in my opinion.
Exactly, just remember, when a company renews contract, they do due diligence, whether they have resources and funds to full fill the contract, so the Royal navy contract worth 1.3 billion, capita would not have won it, if they were due to fail. So royal navy couldav chose serco etc etc. So they trust capita to deliver hence one if the biggest contracts won
Every day the same. I expect there will be a turnaround, but loads more constant downside before. If it breaks below 37, who knows where it will stop?
Inflation+CPI=complete loss. Hat happened with ess?
Next entrance point?
Its been weakening all week. Divvy1 posted and it was guaranteed to slip further today. :-(