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Friday 14 May
TheWorks.co.uk PLC Trading Statement
Sigma1 Thank you squire.
Thanks Rox, yes I've also been that way in the past.
Using TA has helped me let go of chasing the bottom and top,
and instead focus on indentifying a tradable SP range to achieve a ROI I'll be happy with.
These days I aim to plan a trade, and then trade the plan, and resist tinkering once placed, unless the SP goes very bad!
For WRKS I ran the TA, it looked good, so selected both my buy and sell SP at that point based on the TA.
Once bought, I set my auto sell order SP and left the share, the company, and market to do it's work.
In this instance, it worked out well, but dosen't always!
Purple,
I should also mention Fib extensions:
https://www.investopedia.com/terms/f/fibonacciextensions.asp
I use 2 point Fib retrace to identify where a SP might find support when its falling/retracing,
and then resistance when it begins to climb / rise back up again.
As a guide to where the SP might go once it passes the previous high,
I use 3 point Fib extension to indentify where the SP might find resistance and support in new higher SP ranges.
GAP indentifying and trading is usefull, as they have a habit of being filled eventually:
https://www.investopedia.com/articles/trading/05/playinggaps.asp
It is all very speculative though, and for every TA user you'll find a dozen others who say its all rubbish.
Best we can all do is find a trading/investing method we a personally happy with and not worry about the noise.
Thank you Sigma1 for the detailed write up.
Much appreciated.
I do use Trading View and have the basic free access but will probably look at upgrading my package. I do look at the RSI
But will now factor in the Fibonacci retracements and the Bollinger bands
I am with H&L and they provide some research material but the internet is brilliant for news on companies, competitors and the environment it operates in.
Thank you so much. All the best.
PurpleInvestor
Knowing when to sell is extremely difficult and very few of us time it right.
If I am honest when I sell out of a Company ideally I would like it to crash and burn 10 minutes after I sell or at least go down for a few weeks, not continue on a meteoric rise like has happened so many times to me ffs ha ha
Good luck Sigma and don’t be a stranger.
Thanks Rogue and Purple.
Purple,
Investopedia is a good reference point for TA, and other styles of investing/trading:
https://www.investopedia.com/technical-analysis-4689657
For TA charting I use a free account at:
https://uk.tradingview.com/
The main TA indicators I use are:
Bollinger bands with 20 moving average (MA) paired with 50 MA
https://www.investopedia.com/terms/b/bollingerbands.asp
https://www.investopedia.com/terms/m/movingaverage.asp
Relative strength index (RSI) as an indicator for oversold and overbought conditions
https://www.investopedia.com/terms/r/rsi.asp
Fibonacci retracements as an indicator for potential SP support and resistance levels
https://www.investopedia.com/ask/answers/05/fibonacciretracement.asp
Do lots of back testing, applying TA to old SP charts, it helps highlight how SP oftens follows the TA patterns.
Most likely because so many traders are using the same TA, as do the big hedges, MM, II ects.
I like to keep my TA simple and consistent.
Its not a magic formula,
its not always correct,
but it helps me make more informed trading decisions,
rather than just buying blindly.
Goodluck.
All the best Sigma1 - thank you for your TA with regards to WRKS.
I still feel this has some way to go and looking at the £1+ price point
Can I ask as someone who is interested in learning more on GAPs and Charts what's the best product, software or tool to use to gain an understanding as that interests me as I start my journey in trading. There seems to be a mountain of options but don't want to take the wrong option.
Hope ur back here time to time to see how things are going
See you on the BP Board
I hate it when it does that! :)
Fair play Sigma, posted like a gentleman.
I think a few probaly got out today, but i'm gonna aim for your middle gap there.
Good luck fella!
It popped sooner than I expected!
What a great day for the SP and long term holders,
with the SP visiting the top of the SP 57-76 GAP.
I'm now out of WRKS as my SP target sell order kicked in this morning.
In at 44 out at 72,
after costs 61% ROI,
very happy with that trade.
There a still some GAPS in the TA chart above the current SP:
Sept 2018 GAP SP162-168
May 2019 GAP SP 100-118
Aug 2019 GAP SP 86-89
Always DYOR.
All the best to Rox and fellow holders,
hopefully Friday's trading update will have further positive effects on the SP for you all.
Yup looks good, I am with Hargreaves and Lan. early last week when I bought majority of my works shares they had a bigger spread between the sell and buy price, at the latter end of the week the spread was reduced to a couple of pennies and now its back up to a 4p gap. Its all based on volume I guess but I got stung by paying a couple of pennies more early last week
Further high street share recovery action seen again today,
as Greggs SP moved up 10% after a positive trading update was released.
Yup, I think this is still only simmering and for the life of me can't understand why there is not many investors looking into this.
I had a lot of money in BP for the past 10 weeks and just got tired of the fact that its stuck in a bandwidth of around £3 so have diversified and Wrks is one of my big holds. I bought Wrks but only a couple of grand's worth a few months ago, wish I had bought more of that than BP... Anyways I feel safe with this stock. I think you are also big on SAGA which was another that interested me, as the Travel arm of theirs is so strong whilst travel is on hold, but I opted to buy more Wrks instead as see a better 12 months ahead than travel stocks... Just bought another £7k of Wrks whilst typing this ...lol
I have been in and out of Card and only sold out (recently) to invest more £ into The Works because I think it has the most potential upside. What swayed me was the founder of Card Dean Hoyle did likewise to become the Chairman of Wrks.
If it’s good enough for him it’s good enough for me.
Follow the money as they say.
Not expecting fireworks next week with the results. On line sales will be good but overall bad because of the number of weeks the shops have been closed.
Fast forward 12 months though and that will be a different story. £1+ in my opinion.
I know the business between the two are different and there's apparently more profit made in selling cards (remembering my days working at my uncle's newsagents) but the market cap ratio between Card and Works is 8:1. I believe Card has around 1000 shops in the UK and Ireland - but Wrks has at least 500. Card Market Cap 320M, Works 40M and the WORKS has already stated that it has cash to ride the rough seas for a while. Am hoping for a bigger jump with Wrks once results are out next week.
Promisingly,
the SP of another hight street favourite,
CARD,
had a nice 22% rise (SP 79 - 96) following their recent positive trading update on 30th April.
SP has been making good progress in the SP 57-76 GAP.
It looks as though someone hit their target today and excited.
WRKS trading update due next Friday (14th May 2021)
https://www.theworksplc.co.uk/investors/financial-calendar
"Footfall in England up by almost 200% as Covid controls ease":
https://www.theguardian.com/business/2021/apr/19/footfall-in-england-up-by-almost-200-per-cent-as-covid-controls-ease
Stores in Scotland also now open and trading, along with England and Wales:
https://www.theworks.co.uk/page/covid.html
"Book sales jump a third in first week of bookshops reopening in England and Wales":
https://www.theguardian.com/books/2021/apr/21/book-sales-jump-a-third-in-first-week-of-bookshops-reopening-in-england-and-wales
Touching the void !
SP paid a visit to the SP 57-76 GAP this morning.
https://www.investopedia.com/articles/trading/05/playinggaps.asp
not worrying so much, just waiting for this to get dumped like it always does when I buy in. think this one is golden though till £1.50. good luck
A good end to the first week of shops being fully open and trading again,
SP ticking up nicely.
"UK shoppers flock back to the stores as bumper retail weekend looms"
"Visitors to high streets, retail parks and shopping malls rose by 90% from Monday to Thursday compared with the same days in the previous week"
https://www.theguardian.com/business/2021/apr/16/uk-shoppers-flock-back-to-the-stores-as-bumper-retail-weekend-looms
Ashden - its not worth worrying about things you can't control,
time is precious and finite,
best to use it for positive gains.
"All of our stores across England and Wales are now out of hibernation and
open and trading as normal."
https://www.theworks.co.uk/page/covid.html
BBC News "High Street sales tipped to surge 50% on 12 April"
https://www.bbc.co.uk/news/business-56667980
There's probably quite a few like me who bought in last summer and just happy to let it quietly move up, I just look in on days like today when there seems to be a bit of activity. Happy to let it run for now
So quiet here it has been worrying me as well. I got in at 44p and figure there has to be a strong chance of a rise into the 12 Apr openings. I don't think people will surge back but I do think there will be an immediate positive response to openings and the sp will reflect that. IMO theWorks is still a shop that will draw custom and will not be lost to the internet providers.
GLA DYOR
RbH - all in good time.
The GAP traders will likely be watching and waiting for a positive RNS to land.
The spread in the SP is still large, but everytime WRKS gets a buy it spikes up.
It has hit SP 51 this morning.
When the FOMO volume arrives this could become fun.
Looks to be a lot of big GAPS higher up of the TA chart waiting to be filled,
Sept 2018 GAP SP162-168
May 2019 GAP SP 100-118
Aug 2019 GAP SP 86-89
Nov 2019 GAP SP 57-76
Always DYOR