RE: Magnolia Petrolium8 Jan 2021 18:41
Lethal,
I saw an exert from an old trading book today, the first and last 8ths are the most expensive. One has to judge whether the extra few percentage points makes the difference if you are in for many multiples. Arguing over pennies when you are hoping for Β£s. This is of course does not mean you shouldn't plan an entry, just that some entries have reasons they don't pull back tooooo far. Someone on here bought 98k the other day (good timing!) when it was on the rise well off the 6p area....why? Well they see 20, 30, 40, 50p and beyond as more than possible, so rather be in than hope for that pullback and if it does pullback they won't worry they are down because they are more than confident of the future direction.
So your dilemma now is to wonder what reason will it pullback for, how far? Is it worth trying against a future price your research should say way beyond here. It hit resistence today due to the price and historical highs so naturally there ws sel;ling, it would be odd if there had not. These people may have been in from 1.5, 2, or 3 and they want some off the table. They have had their run and by no means it won't go higher. Some may even buy in if it pulls back, who knows. All I do know is you won't be buying at this price when the finance drops..... PEEL unrisked is 33p