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And another rise today, all backed up by good trading volumes. This is the perfect breakout a trader should be looking for. Last week was a huge bullish candle from 51p to 66p indicating a change in the trend. It easily went past 59p, the last swing-high/resistance, and is on its way to 83p after the 70p target has been hit. At the moment it is looking oversold, but a short pullback will address that. It's to be expected.
Gulf Marine Services PLC with EPIC/TICKER LON:GMS had its stock rating noted as ‘Reiterates’ with the recommendation being set at ‘BUY’ today by analysts at Canaccord Genuity. Gulf Marine Services PLC are listed in the Oil & Gas sector within UK Main Market. Canaccord Genuity have set a target price of 70 GBX on its stock. This would indicate that the analyst believes there is a potential upside of 13.8% from today’s opening price of 61.5 GBX. Over the last 30 and 90 trading days the company share price has increased 12.5 points and increased 14.5 points respectively.
Today's rise makes the breakout even more convincing. It's also backed by a lot of volume in the last few days. Next target 70p and then 82p. GLA Other factors: Must have a pullback as RSI on the daily is 87, but that's not material to its overall prospects. Formed a rough H&S reversal pattern which is being confirmed now.
A comfortable break out closing above its 200 EMA in the last 3 days. Also nicely over the last swing high of 55p in October. #bullish
I realise that I'm on the GMS forum board, but further to my last post, I notice that Seacor Holdings have also been given the all clear on Nov 18th to take over International Shipholding Corp. Another indicator of things are going to move in this sector. There will be further shake outs of other companies on their last legs and the (hopefully) a recovery in the offshore. My own thoughts are to buy in across a spectrum of offshore assets that are at rock-bottom values. GMS is already on the move.....
It looks as if the market has bottomed re the offshore sector. Various companies gone under, others re scheduled debt and avoided chapter 11. Seacor Holdings up from around $46 to $61 in past month, and offered to buy/merge with different companies (Gulf Mark)as well as buying vessels at rock bottom prices (11 vsls from Pacific Richfield Marine Pte Ltd). Similar strategy that it used in late 80's early 90's when it merged/bought multiple companies and vessels at low prices. HTG on a bit of a roll. Oil price heading up. Looks as if buying-in now will give a long term reasonable profit
to be moving up along with oil price. The offshore industry has already bottomed so the next move will be up....though may take another few months to gather some pace.
Kinda guessed this would happen with the CEO selling off a big chunk at 50p. Waiting for low 40s or 30s before I buy back a small position. Still can't quite believe the speed at which the original shares I bought for 33p rose to 49p! Still very cheap by all accounts but need to take into consideration the considerable leverage this business has.
I'm out, 50% profit cant be sniffed at.
Also losing a few quid here but not too worried, believe GMS to be a good solid company who's share price will head North when offshore activities improve along with the oil price over the next couple of years.
no news. Losing a lot of money already. I will keep the shares. It won't hurt
Any news on the rise, has information been leaked in the market? A big �10K buy has just come through
Buy just gone through 11.13 LEVEL2 , hopefully more of a rise to come
Took a few. Lets see where she goes from here..
I have recently bought these shares at 38p, I would be really interested to know what people's thoughts are in the stock?
Bought at below 50p a share today, been watching the sp for a longtime and know the company well. This seems way to cheap for a quality run company.
I had bought more in the 40s to bring my average down. I bought at £1.00 in December and expected a steady rise,still seems very cheap. What do you think is happening here, cant see any news due.
About time!
nice share price movement
Please when will this slide stop :-(.. it is beginning to hurt.
Ok thank you for that not too bad considering the size of the company last years results and market cap etc. ive seen a target sp of 74p so hopefully I will easily break even and maybe even see a small prof.
You will be given dividend of 1.2P per share today, not sure why this share keep declining though no bad news..
Any ideas when that is pal? I've been in since last month at 71p and it's just been slowly declining