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Surprised at the drop.
Did not expect much of a rise, but I did expect the sp to be a tad up due to the update stating, 'trading as in line with board expectations'.
Its clear that Q1 has suffered, due to the current Covid situation, but even clearer that momentum returned in Q2, plus with a further £2 million in the bank over a full year, and little debt of £1.01 million things are looking good.
Hi Bootsox,
Agree re charting and many other indicators that apply too AIM stocks.
After investing for 30 plus years, mainly in small cap stocks, I have found that charts, graphs, projection modelling plus many other technical tools, count for very little in regard to calculating where the future is headed for such shares, as they can be struggling along the bottom for months/years when with 1 ground breaking RNS, the sp can multiply 10 fold, whereas you see with big cap companies such RNS's can result in just a nudge up of their sp.
Also with many more millions invested, the big cap companies shares tend to follow patterns, making technical markers more relevant.
Seen several small caps move over up 100% with just 1 RNS, never seen a big cap FTSE 100 move more than 10% up.
Monday 19th is the 33rd anniversary of the 1987 October stock market crash.
Hello Bootsox,
Thank you for your comment - it is very welcome.
I agree with you on all the positive points you have made about the company. It was for those reason why I bought into ECK.
I agree with you in general on the point about chart analysis not working on small, lightly traded stocks, but I think it has worked on ECK. A while ago I was commenting on this board about a double bottom reversal, and later a rising channel, and they both played out as expected. That double bottom reversal was why I loaded up so heavily with ECK shares.
Perhaps those situations, i.e. recognisable chart patterns, were oddities and, overall, the ECK chart defies analysis, as it is doing right now (for me at least).
Today there have been some huge trades. Somebody knows something, and I think what you say - "All the average investor can do is wait" is going to pay off.
Hi Noel, I can chat if you want but I don't do charts as I believe charting for small, lightly traded, stocks is just pure mumbo-jumbo.
ECK is a small IT stock and, unlike many other UK companies that are drowning in debt, they have cash in the bank, are mainly Covid impact free and have exposure to UK and US markets. Also, unlike much of the basket case AIM market, they pay a modest but steady dividend.
ECK have been growing fairly organically for a number of years. They might carry on as they are (which is a long term bet), or might attract a bidder/private equity interest which will give a step change boost.
All the average investor can do is wait for:
a) a bid
b) progressively improving sets of results
Otherwise, my end, not much more to say I'm afraid
Come on people - let's have some views.
I confess that I am clueless as the chart is meaningless to me. It doesn't seem to be in any recognised pattern.
What did I say last week - "70p hasn't held. Severe danger."
Soon after I added few, I changed my mind and even though I like ECK and think it has a good future, the chart looks bad to me so I unloaded big time.
"Any opinion on why someone might buy £99.99k and £80k chunks? " - that was poorly phrased as it seems to say that it was the same person who made both trades. I didn't mean that.
This a chat board, but there's not a lot of chat going on.
Any opinion on the chart? Any opinion on why someone might buy £99.99k and £80k chunks?
That should have been -
Come on, there must somebody on here who does a bit of chart analysis \ TA.
This is baffling me now.
Come, there must somebody on here who does a bit of chart analysis \ TA.
Do you think that is a double top - see August 14th \ 17th and Sept 29th.
Now a £99.99K buy.
I had thought a double top was forming, and so a fall would happen, but these big buys have me wondering if my reading of the chart is wrong. Read up on double tops - they can be hard to judge. I followed the money and added a few.
Big £80K buy in the afternoon. Someone seems confident.
fairly light trading so far this week
yesterday: 15 trades amounting to £46k
today: 22 trades amounting to £180k
70p hasn't held. Severe danger. See the price chart - it's all there.
"or should that be crucial" - drat!
"Up to 350,000 London motorists are facing £12.50-A-DAY charge when Ultra Low Emission Zone is expanded in 12 months with some Ford Focus, Fiat Panda and Vauxhall Astra models among most polluting vehicles"
https://www.dailymail.co.uk/news/article-8803317/Up-350-000-London-motorists-facing-12-50-DAY-charge-Ultra-Low-Emission-Zone-expanded.html
As we know, ECK's software runs the charging system.
Also - keep an eye on the sp. 70p is now critical, or should be crucial
"Companies are now hiring 'directors of remote working' to manage new armies of staff who never see the office"
https://www.dailymail.co.uk/news/article-8793387/Companies-hiring-directors-remote-working-manage-staff-never-office.html
If you know a Director of Remote Working, let them know about ECK.
Will the ECK sp stand up against the October stock market crash that is going to make 1929 look like a non-event.
"Michael Gove tells workers 'stay HOME if you can"
https://www.dailymail.co.uk/news/article-8759111/Michael-Gove-confirms-Government-U-turn-work-drive.html
What is going on in Britain is very sad and worrying. I'm more afraid of what they are planning than I am of the virus.
With so much gloom around, any good news is most welcome. ECK should make money out of working from home and we will make money from a rising share price and increasing dividends.
I expect some of you might say, "How can you gloat about making money when people will die". Tell that to the companies that will make billions from vaccines (that aren't needed because hydroxychloroquine is a tried and tested cure), to all the companies selling PPE, to those selling watches to coronaviruses so they know when it's 10 o'clock so they can start infecting people in pubs and so on.
ECK's share price holding up well on a day when the whole market is down. That should be expected when there is a new move back to working from home and ECK has Call Guard Remote and other systems to facilitate home working, WFH.
The recent moves on the chart (the long sideways period then the small spikes up and down) had me totally baffled, but yesterday I was looking some old share price charts from 2014 and 2015 - not ECK, but that doesn't matter, it's TA \ chart analysis I'm talking about, and I thought that two of the charts had similarities to ECK's chart of recent months - and the breakout move was upwards. Note - it took weeks for the up move to happen.
I had hoped to watch the video conference call, but couldn't find it on the Eckoh website.
I found this - "contact the Company Secretary by 6:00 p.m. on 14 September 2020 at InvestorRelations@eckoh.com in order to request video conference dial-in details".
That was in a pdf on their site, and I'm sure that wasn't in any RNS. Does anyone know if they will release a video of the AGM. Thanks.
Good to see due to the resilience of the company during the current difficult period, the div has been re-instated.
Hopefully a trading statement will not be too long coming.
The 0837 LT 52k recorded as a sell, is definitely a buy as the ask price both pre and post deal was 65p, so the buyer was paying a premium to the ask price of 2p for going over the market size.
As with previous AGM's, I expect at least a few repeat/new contracts.
This company tends to walk the walk, whereas many low mkt cap companies are all talk, no action.
Hope I am not jinxing anything.
Nice to see the sp ticking up. Good news expected at tomorrow's AGM.
A bit of dreaming from me - to be announced tomorrow - booming business, lots of new contracts in in the US, massive revenues from Call Guard Remote and a huge special dividend - then the sp jumps to 85p.