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Looking at l2 I'd say it will do a quick run up
I would say it's on breakout now, superb volume
One way to look at it is all those major blue chip company are clients of rcn then they have somthing that everybody wants so it must be on takeover radar
A little resistance, sellers still clearing but upward pressure looks to be building. Those cautious PI's sat on the sidelines will wait to see a little more upward movement to confirm the trend reversal and then will buy pushing the price higher and thus establishing the new trend IMO.
Impressive that rcn has added 38 new clients and growing
Is there news MXC paid a higher average than 59.68 then as per their RNS?
Just a thought, all bad news released early which wasn't that bad to be honest and now I'm expecting only good news along the results otherwise they would of released all at once
Topped up another 3k at 72.5p. Should be back at 90p soon enough once market digests recent activity and dividend hunters have moved on. I'm calling the bottom...haven't got one right yet. If MXC thought £5000000 was a good investment at 69p then 72p will do me
L2 looking very nice
Looks like it is starting to move. Gap up this morning showing signs of where the SP is heading. RSI has turned and is moving up across the 30 line on the hourly. A steady finish today will set up a strong run for next week with results possibly being released then or the week after.
Close 72.75 pretty close to 73p not bad
Over 5 million shares, they must be going to someone and current share price is getting really boring and silly
One thing is for sure, if anyone was considering a takeover before then the proposition has got a whole lot better in terms of being enable to acquire the same client base but for less than half the price. Yes there is more debt but I can't see how the misstated figures in this specific example can knock 60% off the SP from its 3 month high. Additionally multiple brokers thought that the share was under valued when it was at 185p with a reiteration of Buy, and a target price between 220-245p, we are at 30% of that target price, I am not saying that the share will get close to this price in the short term as that would be unrealistic but as long as the house is now in order, which it looks like it is, there should be no reason that RCN can't continue it's growth with new contracts in the pipeline.
i think an offer is on the way......the bidder definitely must have ordered a forensic audit. data centre business is good even with zero profit. RCN would be trading 5 times higher if it was in america.
Looks to me as if we have hit the bottom, with higher highs and higher lows, still some resistance as the SP keeps trying to move up, suggests further sellers need clearing before it will fly but looks like the reversal is starting, all be it quite gently, a 73p finish today and a steady move back up to 75p tomorrow would be a satisfactory end to an eventful week.
Just topped up again. Still may do more if there are any further drops. But way TR-1's are going won't be much left for us PI's soon. Can't believe that the RNS has created a further fall in the SP, but at least gives us mere mortals an opportunity of making some money. GL all
2 x TR1's you certainly called that right mate..... I bought in when price was @60p so happy to sit on this one and play the waiting game. GLA
Company still turning out profit of near £20 million a year and increasing with customers base, blue chip, this fall really is over done
Looking at this one longer term so sp drop does not trouble me, can't go much lower, surely. Hope it all comes good for the people who are in at a much higher price. This defo looks good to come back to previous highs, may take a year but, its going to get there. :)
A good buy. There is support at 70p so if the SP drops further today, I can't see it going past 70p before it then bounces. Once we get some upward movement I really believe it will start to climb strongly.
This looks like a steal to me, looking forward to making some decent cash on this one longer term. Having researched I can see this going places and, they have done everything right since they discovered 'the problem'. Could not ask anymore IMHO. GLA.
Some large delayed trades yesterday some big buys. Many of the sells look to be smaller PI's possibly. The overhang will clear and the SP will start to move North but not sure if it will be this week or as the results are released. Either way you can expect some price movement in the next couple of weeks and then what can only be a strong start 2017 IMO.