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Don't worry about nationalisation of the bus companies it will never happen. At the moment only one or two garages can go on strike at a time as they all have different contracts and terms and conditions. Us drivers would love to be government owned again, one garage out every garage out, our pay would increase our working hours decrease managers not ever having to worry about tenders and all paid for by the tax payer, lovely.
No point in trying to second guess bottom SPs in current markets but IMO this will double as we exit this horrible year and go into next... and when dividends return that will be another nice bonus! Im buying as much as I can!
Would you buy more now or do you think there is a chance they will come down again ?
yes, in at just under 47p.... which explains why it has now fallen to 43/44p region, because i initially had 45p as my target buy in point, and adjusted it because of the support that seemed present just above that level, should have known better, i always get burned on these things one way or another, didn't move my target on AVCT and that's now 50% up on where i could have bought in.
anyway, I agree this should recover, i have this pegged as a mid to long term hold, depending on a couple of things, we'll see how things pan out, rest of my portfolio is doing horrendously, so if this does pick up like i think it will in the next couple of months i may have to off load it just to get some money coming back in, but i'd like to keep it, as i think it'll 2 bag from this level, and it'll be interesting to see what they do with future dividend plans, as this was a nice producer in that respect, and if it goes back to a similar strategy, we could be sitting pretty from these levels.
If it continues to fall, i may put a little more in, but that'll leave me short to average down elsewhere that I desperately need to.
"looks like we're about to hit my limit buy price of 47p"
CrystalBB, I assume your all over this now?!
What is going on here, Good Public transport operators can surely not continue to perform this bad? Bus pax numbers increasing weekly, continued funding from Govt, decent annual results yet SP continues to plummet, doesn't make sense even with COVID spikes...
We are currently at the "new recovery price" this is the price to which this share will rise to after the next "bloodbath" takes it down. When it is back to 50p it could rise quite quickly to 80p on the hope vaccine treatments could allow numberd using buses to rise to somewhat normal levels.
"Yes it was for "today" However the new bottom will be 25p"
you missed the point of my post entirely, look at the time stamp. I was getting at the pattern that it had built up over the last few days, of recovering in the afternoon, from early in the day falls.
The irony of this is that today it didn't recover, and triggered my limit buy, which slightly surprised me because I thought that probably wouldn't happen until nearly next week.
Yes it was for "today" However the new bottom will be 25p
.... 47.50 was our bottom point for today
At the moment, whoever mentioned travel sector, yeah it's shaky, but i am considering a little dabble in IAG because they are trading at one h3ll of a discount right now, and with poor results expected friday, there could be some bargain entry points circa 170 (ish) opportunities
DJ futures falling off 1.15%. USA 2nd quarter results out at 8.30 ET- could add to the fall- if not factored in already by market.
Seems you spoke too soon and we are due another test at this level!
i am avoiding those, but how low can the likes of TUI and CCL go, a bit more i think and i don't think recovery until next year, or if this virus goes away. I'm sure the MM will play them and suck people in. But this seems like a good bet, i not invested yet but nearly purchased today and people need withing country transport. Same as NEX but the recent placement adding more shares always puts me off.
I totally agree, it's at it's lowest and a important transport company, for people who need and depend on it, to get around. I just don't understand why airlines like IAG and travel company TUI go up when quarantine being introduced. Maybe market trapping people before they tank it.
no, bottomed at 47.16 or there abouts.
If i'd hit the buy manaully i'd have probably got 47p flat, but had to go out, so just left the limit buy in place, have to admit, i was a little surprised it didn't trigger, H&L limit buy is a bit cut and dried, it won't even attempt the buy until the Ask hit the price, which any of you with a H&L account knows, especially if your talking shares under the penny is pretty inaccurate, as it only deals to 2 decimal places.
but whatever, I left it in place and it didn't trigger, such is life, will see how it plays out, buying does look strong right now, and that might have been the bottom for the time being. Not the first share i've not bought into when i should have done, did the same with AVST and that's now flying.
with all the buys. Gog well up on the day. Is the bottom in now for SGC ? Yes I think so
Did your order get filled? Seems support may have been found, we will see what the weekly chart looks like if this holds!
Well the write down due to the loss of the rail franchise is something that cant happen again or the appeal court case that followed. Much of the bad news behind us now.
fair points, although devils advocate could argue all main exchange shares could be subject to the same pressures of volatility.
Looks like for now there is support./resistance at the 47.5 mark, I adjusted my 45p limit buy to 47 over the weekend, and have left it alone, part of me thinks i should move it back to 45, as whenever i let limit buys trigger, the SP always seems to dip below to where i was thinking anyway !! that said, 47p isn't that bad an entry point, albeit at the top end of that potential range you suggested,
Couple of things. Lots being said on here about the company itself, effects of the bug etc- and rightly so. However this share has a high beta level (1.16 or so I think?). Basically its highly sensitive to market moves in general- as opposed to news specific to itself. My main concern in these weeks is not so much whats happening with public transport values- or even covid - or the lack of "feel good" factor in the UK- but rather I'm very concerned at the high levels of the USA markets - its just too high. A serious adjustment (say 5%??) on the dow in these coming weeks would have a big hit on any UK shares- and more so on volatile ones like SGC.
We are in extraordinary times- regarding the SP level. However- just recall that these points HAVE been passed before- in 2002-2003 there was a twelve month period of in the 20-50p range- before a strong recovery- and that was not a time when the world was in a pandemic. This week (30th) will see the release of GDP results for the USA 2nd quarter. They should be desperate figures. Has the dow already figured them in to its value ?- no one knows. My overview for SGC is optimistic caution (and disregard all brokers opinions on this stock) and I'm a buyer. Until a time when the US markets have adjusted- it may be wise to assume a strong possibility of a 20-to-50p price range for a lengthy period- and not to see that as a valuation on the company itself- or on public transport. Appreciate comments. Tim
looks like we're about to hit my limit buy price of 47p
question i have now is whether to cancel and monitor it manually and see what happens or just let it trigger!
Not really fussed, everything stagecoach is doing at present is positive. footfall is slowly increasing... Next week my depot will restart its annual summer excursions to Skegness... megabus is now back up and running.... yes more redundancies are coming, but not for those on the frontline such as drivers.....though some drivers are just leaving for natural retirement... I think come September only then will we have a better idea of where we’re heading with the return of schooling... but I do believe it’s going to a slow long haul back to normality, probably a year plus.... those drivers still on furlough are gradually being brought back.... drivers are also being encouraged to do spot cleaning on touch points on their buses, to give passengers confidence that buses are safe to travel on... there’s lots to be positive about with stagecoach at present especially as it has the backing of government funding.....
In its annual results, the company reported income was down from £1.878bn to £1.417bn, with pre-tax profits falling form £133m to £91m. The figures were affected by both the lockdown and by the loss of its West Coast rail franchise from December.
thanks, as you can see from my previous posts i've got an eye to buying into this one as I think the potential over the longer term for a healthy recovery price makes this level look very tempting, i held off going into the expected results, only for the shareprice to do EXACTLY the opposite of what i thought might happen, I was expecting a drop of about 10% followed by a bounce back to this level, not a rise of 10% followed by a beat down back to original level! I still have my limit buy set at 45p while I consider my options, and won't be too upset if that triggers, unless, as you allude to, in that by hitting that level it will be by way of passing through it too a much lower level, i'd rather not start on the back foot so to speak!
@CrystalBallBroke Purely on a long term technical perspective of price levels and on the shorter term descending triangle which means a break to the downside could be nasty. On a more bullish note, bullish divergence on the daily and weekly RSI could point to a rally in the short term.
On a pure value play this is very undervalued.