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So bored, not finding anything much to trade. So this might just be a bad move based on lack of action, but I've entered here again at 114. The more I look at the chart, the less convincing it looks, but at some point I think 135 + and 148 + are feasible.
We're getting a lower low now, which means in all probability that I have jumped the gun. I do have 'some' support to suggest it will close above 111, but it's not that great.
We've had a pop back up that could very well just be a technical thing. I'm still in, but suspect the drop isn't finished. If it looks as if this little rise off the low is a real rejection of the 106/107 area then I'll consider increasing. For the moment I'm very cautious.
This stock is super volatile and has only ever gone down and down since it was floated. I am just hoping to eventually break even
I got out with a small profit around 117 (from memory). Interesting that you say shorts have gone up. Trading update due Mar 30th.
Well back in not much below that 117. Smaller position. Results end of this month so I'm hoping I'm safe (ish) to take advantage of what looks to be a break to the upside (2h chart, descending TL from Feb 2 until today, when it looks to be breaking up.)
shorts now 3.95%, someone doesn't share your optimism.
true lotok and that is on my mind. Worth noting though that many shorts lose and even when they are successful, it sometimes takes a while for the drop to come. I'll be well out by the time results are publsihed.
I've reduced my stake slightly today, just trying to take out some gains from previous lower buys. Still way down overall though. Hoping we can push to near £2 this year but i think that is wishful thinking.
Remember shorts only make a material difference aligned to $hit RNS updates etc. If the RNS updates are positive their short is crushed.
I.e Asos had a significant short position and the SP rose by 100% in a month recently.
Also all shorts hedge.....they take out a significant long position against the short to cover themselves....dark arts!
All PI's need to focus on is the key fundamentals and RNS updates and that drives the SP ultimately.
SP has now been below 112 so it hit my 111-112 range. Closer inspection of the chart suggests another potential downside risk (gaps in the data) to between 109-110 and then even as low as 103-104. These are very small gaps that I'd not previously noticed, but they are visible on the 2h chart. I'm not suggesting that closing these gaps would act as support. Just that it's something to be aware of. I'll only continue buying back if we see evidence of a turnaround in the SP
SP now been below 109. It's a very interesting business this. The shorts remain at 5.3% (suggesting some are looking for downside), but the recent RNS was upbeat. As previously stated, if I see evidence the SP is turning around, I'll add and if we get to the 103-104 area I might add speculatively. Happy to have dropped out at 129
Fascinating, thanks Stumpy!
The SP just ticked up but failed to break out of it's descending channel. Seems there are buyers, but not enough momentum. If the price drops back to 108.3 or below. I will start to accumulate. We're almost there at 108.7.
Let me modify that, the price is now 107.9 so it's achieved the small drop I hoped for. This could repesent an entry point. I'll wait for a signal that it does, before adding.
Cool story Stumpy, don't overlook the fact that the market will head very south again quite soon. Will Moonpig then buck the trend with all of the short positions in play - I very much doubt it.
I won't touch these until between 90p -100p
Charts only give you a small part of the story....!
Yes agreed NKG, I'm pencilling that in for after June rightly or wrongly and I think that it would be good to be shot of most equities at that point. I'll aim to do exactly that.
It’s bouncing around between 1.10 and 1.25
Will wait for an entry at 1.10 and look for a quick 10% with a £5k purchase. That seems to be the trick with this
The bounces appear to be getting smaller though.
I have yesterdays price action as suggestive of a logical target at 122-123. That co-incidese with closure of a tiny gap on the 2h chart, but that's insignificant in my view. It would seem more likely that we'd see 124-125 before any decision on further price movement.