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Looks like a descending triangle? This share tends to drift down halfway after earnings in the past - are at that point now? Reasonable volume of sales today. If there is no news on Monday, I'm thinking of selling out. Thoughts?
I have the same dilemma and we know that this is AIM and anything can happen.
To me, the chart looks awful from a technical viewpoint - worse than the huge drops in Oct and Nov (which I held in - please don't remind me). The difference in this case is that the price closed right near the low of the day's range and, on lower timeframes (say, 3 mins), there are lower highs into support, meaning there are less buyers willing to pay higher prices. As I suspect, support will break, leading to further drops next week, I am thinking of selling out and buying back in on the bounce. However, that will crystallise a 40% loss from my top-up in Feb, coupled with a classic failure to take profits at £12.
Can any chartist make a case for talking me out of this?
I agree that NCYT's communication needs to be much better. Information in the RNS is far too ambiguous and investor relations just saying that 'all publicly available information at this time has been disclosed in the announcement'. Just not good enough... although I appreciate that they have limited resources.
That said, I still believe in their world-class R+D and acquisition record to date. Following on from that, a dividend or share buyback would make no sense to me whatsoever at this stage. We need to have faith that management can continue to put that cash to good use and generate future cashflows post COVID, or sell out.
The chart tells you what investors/traders think of the share though... according to Mr O'Neill anyway. Removing my trading hat for a moment, I know of no better share than PLUS when it comes to profitability (ROIC, CROIC, ROA, or however you want to measure it). Opening a stockbroking business will reduce the cyclicality of revenues - AJB and HL are hugely profitable too. And I am enthusiastic about the new leadership. Looking forward to the update.
Unfortunately, I was right that a big move was coming but in the undesired direction.
I am confused about which contract is being disputed and how much? Is it the 'second supply contract'? Or the extension of this? Or PROmate supply (probably not)?
I've topped up twice too. Mark Minervini suggests that this low volatility is a good sign and usually predicts a big move. See 8 Sept 2020 and 11 Jan 2021 when volatility contracted... Let's just hope it is a big move up rather than down!
Is this a cup with handle pattern for a breakout? Looking for PLUS to rally like CMCX and IGG prior to update next week.
Perhaps... but I won't be lining up to take the vaccine unless it is proven to be safe:
https://www.bmj.com/content/371/bmj.m4042?utm_source=etoc&utm_medium=email&utm_campaign=tbmj&utm_content=weekly&utm_term=20201023
https://www.bmj.com/content/371/bmj.m4037?utm_source=etoc&utm_medium=email&utm_campaign=tbmj&utm_content=weekly&utm_term=20201023
Could also be the Boots test, but most likely institutional buy-in IMO.