Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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it is on!!!!
Woweee!!!
what a start to the day
Prefer to see a retest 512 area and a period of consolidation , before a retest and move higher .
I have noted a massive demand tail on the monthly chart for July linked to the drop off in monthly volume since the accumulation sub 300p.
Also noted that the point and figure weekly chart with standard 3 point reversal gives a 670-690 price, which was the recent high set in FEB 2020 .
All this suggests a takeover at 550p would be giving it away .
GLA
decent volume last few days but price moving higher on that than it should. often thats the pattern pre takeover annoucements. im not privy to anything but any bid should be 550p or higher.
Looks like it could be on
cable is about 2% lower than early may when bid talk was at its peak and the shares were close to 5 quid. i added yesterday and will be prepared to add by tech support in 325/375 region if seen.
I'm hoping this is on someone's radar after the recent speculation that a bidder was circling and cheaper still now after the latest falls.
Have topped up today as we are likely to see a Trading Update in early July. Will review then.
Having previously been over 700 I expect this to go to at least 550 once air travel starts to rebound. DYOR
reaction by end of day now key to near term direction. if they can managed to finish flat or higher, this should move higher in coming days. if they move below the gap 462 price, then more weakness due.
Seems to be some coverage in the Times but I don't have a subscription. Expecting an RNS in the morning either way.
'That would be nice, but that's almost 1 75% premium over last night's close (460p), which I think is not likely.'
I've bought a few below £4.60 because the company is worth much more than the current valuation. Do you think I'm going to be selling for peanuts? Can afford to sit and wait till the skies open up. It is not as if all revenues have dried up. There is the Defence division. The US are flying internally now. Other flights are taking place, some aircraft have been stripped down to carry a full load of freight, which used to be shipped on passenger flights. There is also the Energy division. Meggitt will be trimming their operating costs and getting by. Do you imagine the BoD were thinking yesterday that's all we are worth? They will not be accepting any offers that substantially undervalue the company, as they do not need to sell.
and yet another one to bite the dust,and another one,and another one
Good point about Capital Group. I think they're positive to have onboard in a takeover scenario because they're super long-term investors and hopefully won't be thinking about a quick buck - should be helpful in making sure that, if she goes, it's at a fair price.
Re "Imho would have to be over 800p to be even considered.". That would be nice, but that's almost 1 75% premium over last night's close (460p), which I think is not likely.
I Dont think this is a takeover trade , however capital group is building a huge position.
Imho would have to be over 800p to be even considered.
The supply was tested around 450, no supply left so price moved up to find a level that people are happy to sell at.
Shows that a large interest is holding / building a position . If you do a point and figure count on the first accumulation area it shows you where this is going.
GLA
This is why.. Huge if true. I would expect bid needs to be well over 650p to stand a chance :
Meggitt shares surged on Friday following a report that US-based Woodward Inc is could be looking to buy the London-listed aerospace engineer.
According to Dealreporter, Woodward is working with an investment bank as it considers potential deals and Meggitt is in the frame.
No news or announcements I can see. Strange but not complaining ??
What's happening here then?
Yes see this going to£5 and then £7 in fairly quick order . Buckle in , Meggitt make the buckles .
On a march here and much more to come from Meggitt. They seem to have weathered the storm without any additional funding required...plenty of upside to go here.
Can’t say the results weren’t as expected, but still in a great position for a solid recovery albeit a little more delayed than I’d previously anticipated. Dividend guidance a bit open ended (upon stabilisation of aerospace sector), but hopefully 2H21/1H22........thoughts anyone?
There were a couple of 100k buys show up just after the close so fingers crossed they know something :-)
They may elude to it in the results tomorrow