Focusrite Share Price (TUNE)

Calling a long term bottom here. A very large trade cleared yesterday and it seems the seller who has consistently been selling every morning has finally gone. Large volume candles usually mark the bottom and the fact that the large sell yesterday was absorbed by the market is in itself bullish. Looking to pick up some more, but I notice MMs also widened the spread on my broker, buy price is 190, sell 180... I have very large resting bids in the 180s, in the hope that we have a bit of time around this level before moving up, but will market buy if we start to move without my fills!

The AGM Statement duly arrived. I'd describe it as short, not terribly sweet, but by no means dreadful. However, the market has lost faith for now.

I've held the share for 11 months and am down a third. Not my best. To top-up or not to top-up? I think not. I'm trying v hard to be super-selective in additions to my existing shares and I'm not sure this one is a 'no-brainer' as one or two of my others have been. Equally, I've seen nothing from a company perspective that makes me want to bail down here.

Still getting over the covid boom it seems...

AGM statement in a couple of weeks. Expecting Christmas trading both for its retail and events businesses and the ceasefire agreement in the middle east (reducing logistics costs/risks) to be positive catalysts from these ridiculous levels.

Analysing the numbers is the easy bit (and what everyone does). Edge in the market comes from an understanding of positioning and sentiment. I respect your opinion though. Mine's that this is very oversold, a huge amount of negativity is priced into what is fundamentally a very well put together business and offers very good risk/reward at this level.

At the end of August, I mentioned that I had written my capital in this investment off. The share price has declined further and, I too have reviewed my holdings in case I need to have a closer look at this company. Unlike mfdoom and Overtrader, I do not see a compelling reason to chuck any more cash at this company until the next set of numbers come out over which I can run a slide rule.

I extend the hope for a prosperous New Year to all investors.