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Hoping we can breach the 40p mark with today’s budget. Go on Sunak!
I would be genuinely interested to hear what the Chartists have to say at this point. Is anybody prepared to comment, without prejudice.
Raleigh, I think you know my take on this....
Bullish divergence on the monthly/double bottom from march 2020 and jan 2009. Favours reversal
Weekly ascending triangle. Favours reversal
Daily we need to see where we close but it really is trying hard push that high from june 8th 2020. Decent volume well over the previous week or two daily average suggests this may break but that's famous last words and rishi might screw us all in half an hour.
Then just pick your target, depends largely how long you wish to hang around but I will let you into a little secret, mine is well well north of 50p, largely because prof recons this is worth £7.68!
And that 8th june resistance was only an intraday high and ages ago. We have broken the opening price which was 38.84 and the close which was 36.80 so for me the reversal continues (although we must expect retraces, often back to previous resistance)
Thanks, and for your previous, on which I got the drift. It was just that I had in mind 39p/40p was of interest from a technical perspective. That, I thought, might give some indication of where we may go after news - assuming as I do, it will be at least at follow content of the trading update.
Raleigh 40p is a round number which I'm sure you know always creates an artificial resistance point, coupled with the precious high in june but it was a while back now so less important. As you know the charts are only guides telling you what the crowd mentality is doing and can only suggest points you may wish to adjust your position, of course it only offers probability that the market may go one way or the other as we all found out a few months ago.
As you know I got that one wrong and it hurt!
Resistance Point 42.507
Resistance Point 40.753
moving now ,
SHI Bid:41.2p Offer:41.48p Change:3.82
Well I really wasn’t expecting to break 40p this convincingly!!! Happy days if we close over 40
I imagine this will peak at 42 purely down to volumes changing hands
Yes GC Newt. I tend to work in round numbers. Filling the car can be a frustrating experience for those present.
I'll put this to bed for now - hoping for a re-entry at 37p prior to announcement (which will be positive...hopefully)
Looks like more than you were thinking that. Just think, you may all be coming back together!
The budget was a disappointment for construction and particularly insulation...
Never mind, we have the trading update soon. It won't rise linearly this share.
Gla
I expected some kind of a remedy for this issue: https://www.openaccessgovernment.org/uks-green-homes/104560/
They tried it, didn't work, so they will need to re-launch and improve at some point. I thought the moment would be now... But no. News for this will come though.
The important thing here for those who noticed:
The slightest expectation for good news send SiG 20% up in the space of a week.
Imagine what will happen when the news about actual profits in 2021 come to the market...
25th of March.
No point in covering old ground, but CD and R investment and ours ( my view ) in Sig as a recovery share was not predicated on particular budget news. Economic growth through construction remains a key part of Govt., here and EU, plans. And the green agenda, recladding and insulation and all that stuff.
So, no particular budget news, if you view it that way, is not a setback, and the early signs are optimistic, that the recovery stock is.....recovering. What have we had, so far from the company, actually - recapitalisation, CD and R topping up, and a positive trading update.
Professor.
It is just possible we may see something you would have liked to see today within the next 3 months. This document, published today, page 105, Heat and Buildings Strategy.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/966176/Plan_for_Growth_Web_accessible.pdf
The industry, as you know, is clamouring for a working strategy. It is fundamental to net zero. I agree, it cannot be ditched as to hard to do.
Great find Raleigh! ?hanks for sharing.
This scheme is important because SiG would benefit massively from this. They're the biggest provider of insulation and this scheme is very specifically about insulation, for everyone, subsidised and so 2/3rds cheaper. In addition, early indications were that households were thrilled about subsidised insulation.
It was very clear in my head that some kind of solution/relaunch needed to be in the 2021 budget but I guess the government needed more time for this. They're getting criticism from Labour for not being green enough and as Kier's popularity rises (he's solid, for a change), they'll seek to do something to stop this arrow.
looks like SHI would close over 40p today
There is retrofitting going on anyway, leading to an 'extra' market, which may be of benefit to Sig. This sort of thing.
https://www.constructionenquirer.com/2021/03/04/vistry-sets-aside-20-9m-for-cladding-retrofits/
And this will all come down the tubes, anyway.
https://www.socialhousing.co.uk/news/has-approach-lenders-for-retrofit-carve-outs-69846
HAs are beginning to scope out the cost of decarbonising their stock by 2050, with a range of estimates on the potential costs of doing so. Consultancy Savills has estimated that £3.5bn will need to be invested annually by the sector. Meanwhile in Wales, one estimate places the total cost of decarbonising the sector’s current stock at £4.8bn.