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USA removing some tariffs on China which would be good news for markets. I think markets will keep rising for next 2 weeks.
U.S. Treasury Secretary Janet Yellen said on Sunday some tariffs on China inherited from the administration of former President Donald Trump served "no strategic purpose" and added that President Joe Biden was reviewing them as a way to bring down inflation.
U.S. mulling pausing federal gas tax as option to cut prices, energy secretary says
U.S. Energy Secretary Jennifer Granholm said on Sunday that the administration of U.S. President Joe Biden was evaluating a pause on federal gas tax as one of the options to bring down prices.
Venezuelan oil exports to Europe set to resume after two years
650,000-barrel-cargo of Venezuela's oil chartered by Italy's Eni (ENI.MI) is about to set sail carrying the first export of crude from the U.S.-sanctioned country to Europe in two years, Refinitiv Eikon data showed on Friday.
Jtan,
Let us be positive.
Not necessarily wizz should drop when indices/BP/shell keep dropping due to lower oil prices. Yesterday all these dropped but still wizz could rise 6%.
If oil prices drop wizz will certainly rise no matter what happens to indices!
Oil is also supporting. WTI printed $108.2 lowest price. Hopefully it will head towards $100 next week. So wizz will have better price for hedging. I think wizz will reach 30s in next couple of weeks.
Volume is high since last few days since price is dropping. I am assuming someone is accumulating at these bargain prices. For last 7 days volume is 1.2m, 1.3m, 0.7m, 0.7m, 0.8m, 1.5m, 1.4m
https://uk.finance.yahoo.com/quote/WIZZ.L/history?p=WIZZ.L
Also remember almost 80 % of wizz is owned by institutions and insiders.
This will certainly reverse soon. This is great company, good balance sheet, expecting good summer, in net cash position!
If you don’t need money urgently then there is no need to sell, but each to their own circumstances.
I am going to hold. Any positive news on war front will send this to 40-45 in couple of weeks. Also if entire airlines sector starts recovery, not sure why wizz will be held back.
I am down about 15%
Jtan,
Wizz dropped from 45 to 30s due to Ukraine war which it has about 20% revenue from Ukraine and Russia.
it was relatively stable trading around 30s since war started, so I don’t think it had much effect due to index crashing from their highs.
Also oil has remained high above 100 since war started, but wizz had not much effect due to oil to prices.
If you check crude oil chart, it might have made double top and got rejected at 120s, so it may start moving down towards 100-80 range in next few weeks.
Any good news of talk between Russia/Ukraine will send oil crashing to 60s and all the talks of inflation will disappear. This will send wizz towards 45-50 range!
Share price will be sluggish trading in 25-30 range.
Any positive news on war front and oil dropping below 100 would send this towards 40-50 range.
So good chance here to double the money for patient investor. But dyor
I don’t think there is much downside here for airlines.
With indices dropping, commodities (oil, metal)will start crashing. Lower oil price will be good for airlines.
With high demand for flying airlines will be making good money, this will help airlines shares to recover.
I would not be surprised if more directors start buying wizz.
Market would have taken wizz results positively as all numbers were as expected, so would have risen on results day, but not sure why they decided not to comment on future guidance even though they said demand for flights is through the roof and on 30th May they flown record number of flights!
WIZZ Holding well considering carnage in wider market after CPI numbers. Tide may be turning.
I will add further more at key levels once it starts rising. Looking for moderate target of 3000 in next couple of weeks.