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this share is sooooooo boring! If it doesnt reach 62p by fri morning im out of this one.
It's starting to look that way. I really was expecting a greater range today to confirm the movement back upwards. There will be some who bought in yesterday looking for it to take off who might now be having second thoughts and sell for a quick profit at 60p which might yet drag the price downwards a tad but I think lows of 58 are now more likely than the 56 I am hoping for!
An indifferent day as I have no investments on the go at all at the moment, I was pining my hopes on getting FP for 56p but this looks unlikely at the moment. Will have to see what this afternoon brings though. I can only see a DEFINITE quick profit in this share if I get in at that sort of price and out again at 60p which would now appear to be very easily achievable sale price. For me the risks are still too high above that level in the very short term.
Aviva has catapulted upwards today (close to £3 now) and Pru have risen a lot this morning as well but they don't seem to bedragging FP up with them at the same rate of knots. As I've said before this share is either way undervalued or the runt of the litter.
In the food sector Asda and Morrisons are growing market share at the expense of Tesco. Tesco and Sainsburys are already way over £3 so that rules me out on them (see my last post) and Asda is owned by Walmart in the US. Hence my interest in Morrisons - Buy at £2.40 and sell at £2.55 is my current thinking on them (a very slow but almost inevitable £500 profit IMO).
same here. Especially that dow futures are up. Should hit 63p today
I generally invest up to £10,000 at any one time and look for quick £500 - £1,000 profits. I'm quite risk adverse so only look at blue chip FTSE100 companies and the share price has to be less than £2.50 for me to get the volumes I need to make these quick returns. That narrows the field quite a bit. I still won't touch the banks at the moment but I'm getting less scared of them now than I used to be since Barclays took off but lets see what the US stress tests and the first round of UK bank reporting brings. So my natural focus has been the insurance sector as I see a lot of potential in these shares. I keep toying with Morrisons but its normally a very steady share and you have to judge the big leaps and drops it encounters. It seems good value to me for a long term investment during the downturn but theres more money to be made from short term deals in the insurance sector. LGEN is good for day trading but I don't feel overly confident putting money in there above 48p because they haven't been above 50p that much until recently and in my analysis of the lows in the insurance sector they seem very highly priced in comparison for risking holding onto them.
looking good :-)
If you look at a candlestick chart for this share immediately after Easter, there was sideways movement while it traded between 65 and 70p with a lot of indecision about where the share was heading. There was a little of this before Easter as well but not quite so pronounced. The break was then downwards followed by a small recovery. Because of the announcement yesterday I think we will see a similar pattern of indecision and sideways movement for a few days until it breaks out again. So I expect it to oscillate predominantly in the 55 to 60p band thereby testing the high and lows. There does seem to be some resistance at 60p but is support starting to form around 58p now?
Panmure Gordon downgraded FP from a Buy to Hold yesterday but gave a price target of 80p. Don't know how much weight you can put into their rating as 5 out of the last 10 ratings on this share in the last 6 months have come from them! It might be having an effect this morning though??
Yeh lets hope so. There are a lot of buys this morning and sone of those are quite big.
ive noticed that all insurers apart from Old mutual are follow a similiar chart pattern this morning.
morning guys! Looks abit dull at the moment. Should of got barcs yesterday at 222p, i was that close. Oh well!
Live price 59.1 Opened slightly down and early trades don't yet suggest it will rocket nor for that matter plummet again and there's an average sort of volume at the moment, could turn into a rather dull day, lets hope not.
I've been tracking the insurance sector for a few months now and have made all of my profit so far this tax year from Standard Life trades. I always compare the lows of the day for each main insurance share with the lows of 6th March when they all hit rock bottom together thanks to Aviva's dividend debacle. Today's comparison shows the following % growth (of the lows) since that time: LGEN +114%, PRU +82%, AV +68%, SL +42%, FP +8% and the FTSE +16%. Based on this LGEN and PRU are high risk (overpriced) to me but certainly still good for day trading and FP is either way undervalued or the runt of the litter and that's what has made me focus on them lately. AV and SL seem to hold the middle ground and seem to move within fairly predictable ranges and when they fall heavily they tend to bounce straight back whereas FP seems to struggle to do the same of late.
Today's range was 6.2p which is towards the top end of what this share typically swings between, its more usually 3 to 5p, but I think there will be an even bigger range (7p) tomorrow and my prediction is it will swing between 55.7p (low) and 62.7p (high) so I'm still hopeful of getting in at 56p. Only time will tell. Good luck to everyone anyway, I've enjoyed the input from you guys as well today.
i doubt you will see 55p now. Very unlikely!
Not much chance of it falling back to 55p in the next 10 mins but I reckon my prediction of a 58.5p close will be pretty near. I agree with qatari1 that it will be a big day for this share tomorrow. Not just the upside viewpoint though, I think it could trade for a while tomorrow morning at 55p again, in which case I'll be in like a flash.
All insurers have followed a similiar pattern today, which clearly shows the news of FP has not really affected the SP. However from tomorrow it will rise and if all goes well with the other insurers on thur/fri this will hit 70p. If not it will hit 70p end of following week. I put my life on it :-)
qatari1, I wasn't doubting your motives I was just making a few topical jokes in one post. Pendulum seems to be swing back the other way now. Live price back to 58.5p yet Dow has recovered...........very strange.
And there I was thinking qatari1 was trying to make a silk purse out of a sows ear! I don't want to make any rash(er) decisions today as it's me who is responsible for bringing home the bacon.
dow has totally took me by surprise. Looks like the yanks dnt mind a swine here or there
Just hit 61p - Looks like I've missed the boat and misread it today !
Aviva seems to be recovering as well at the moment but Standard Life (my prefered share) is still suffering quite a bit, probably because they have yet to show their hand (Thursday morning). Seems to be some resistance at 60p today (not surprised).