Member Info for E_AL

It's significantly oversold on the technical chart and is very likely to rebound soon. Technical traders are aware of this......so as the Frasers Group ;)

It looks like we have seller here !

09:53:49 133.073 413,326 £550.02k

09:53:34 133.00 500,000 £665.00k

Two chunky buys just gone through , which explains the manipulation of the share price.........

09:16:16 27.37 250,000 £68.42k

09:15:21 27.37 250,000 £68.42k

Wood Group turned down a £1.52 billion takeover offer 2 months ago from Sidara, valuing the company at 220p per share, stating that it "significantly undervalues" the group and its future potential.

Currently, the share price is at 120p, nearly half of the rejected bid. The overall market downturn has exaggerated this drop, rather than the news of the takeover rejection.

The technical chart indicates an RSI of 11.88%, the lowest since March 2020, signaling a heavily oversold condition. The company just reaffirmed their confidence in their strategic direction and future prospects, focusing on unlocking Wood Group's potential, including generating significant free cash flow next year.

At this price, there is a substantial trading value so I decided to buy in!

Monday 05.08.24

Jefferies raises John Wood Group price target to 230 (210) pence - 'buy

Nice chunky buy !

16:02:41 29.341 500,000 £146.71k

@NMW1969

I bet this one wasnt yours ha

14:45:50 29.00 BUY 180,000 £52.20k

Someone seems to be bagging 50K blocks of shares !

3.5 x times the available daily volume caused today’s drop .

Stocks were flying across the pond this evening, Im expecting to see recovery tomorrow

Sea*

See of Blue at the moment on L2. It looks like this is the turning point

"Shell plans to invest $10-$15 billion across 2023-2025 to support the development of low-carbon energy solutions including e-mobility, low-carbon fuels, renewable power generation, hydrogen, and carbon capture and storage. In total, Shell invested $5.6 billion in low-carbon solutions in 2023, which was 23% of its capital spending.

The capital investment related to REFHYNE II will be absorbed within Shell’s cash capital expenditure guidance, and this project exceeds the internal rate of return (IRR) hurdle rate for Shell’s Renewables & Energy Solutions business as outlined during Capital Markets Day 2023.

Key project partners for REFHYNE II are ITM Power (Trading) Ltd, ITM Power Germany GmbH, Linde GmbH, TECNALIA, ETM, SINTEF AS, and CONCAWE.

Shell expects that, once operational, hydrogen produced from REFHYNE II will meet the requirements for renewable fuels of non-biological origin (RFNBO) in accordance with current EU legislation.

This investment delivers on Shell’s strategy to repurpose its Energy and Chemicals Parks to provide lower carbon molecules to customers.

In the Netherlands, Shell is currently constructing Holland Hydrogen I with a capacity of 200 megawatts, one of Europe’s largest renewable hydrogen plants under construction."

https://www.shell.com/news-and-insights/newsroom/news-and-media-releases/2024/shell-to-build-100-megawatt-renewable-hydrogen-electrolyser-in-germany.html

Results will be published tomorrow, so they're trying to shake out weak hands to load up on the cheap while they still can. We'll see recovery tomorrow!

The ASK is weak on L 2 which is a good sign and I noticed large blocks of shares were bagged in the last hour. The technical chart also indicates imminent rebound !

Results next week, right?

ROCKETVI, we should expect to see a TR1 soon or the closure of a short position. The purchases which SharetrackerA quoted representing 0.21% of the company's shares, are followed by additional purchases counts for 0.24%

12-Jul-24 14:45:57 429.00 32,422 Unknown* 427.00 431.00 £139.09k

12-Jul-24 14:45:57 429.43 32,422 Unknown* 427.00 431.00 £139.23k

12-Jul-24 14:45:57 429.00 68,841 Unknown* 427.00 431.00 £295.33k

12-Jul-24 14:45:57 429.43 68,841 Unknown* 427.00 431.00 £295.62k

12-Jul-24 14:45:57 429.43 72,672 Unknown* 427.00 431.00 £312.08k

Significant purchases just went through—someone acquired 0.1% of the company's shares!

11:54:33 429.00 30,000 £128.70k

11:54:33 429.00 30,000 £128.70k

11:54:24 429.00 60,373 £259.00k

I've been monitoring Level 2 data, and it looks like someone is capping the share price to accumulate shares on the cheap while the price is on its knees . The technical chart looks like a compressed spring ready for an upward surge !

On Tuesday, JPMorgan adjusted its stance on ITM Power PLC (LSE:ITM) (OTC:ITMPF), downgrading the stock from Overweight to Neutral and reducing the price target to £0.90 from the previous £1.30.

The firm anticipates that the company's financial year 2025 (FY25) revenue guidance might prompt a downward adjustment in market expectations, potentially leading to a negative reaction in the stock's performance.

The downgrade follows a period of significant developments for ITM Power, including a successful 12-month turnaround program completed in January 2024 under CEO Dennis Schulz.

Since then, ITM Power has secured several orders and large capacity reservations, which JPMorgan acknowledges as indicators of the company's robust long-term market position. Despite these positive developments, the firm predicts that revenue from ITM Power's larger orders will likely be deferred to FY26 and beyond.

JPMorgan's revenue projections for ITM Power are substantially lower than the current Bloomberg consensus, with a forecast of approximately £24 million for FY25, which is 50% below the consensus estimate of around £48 million. For FY26, the firm's expectations are also 26% lower than the consensus.

These revised forecasts have led to the reduced price target and the decision to place ITM Power on Negative Catalyst Watch ahead of the FY24 results announcement scheduled for August 15.

While JPMorgan has lowered its short-term expectations for ITM Power, it still sees potential for the company's value to increase in the longer term. The firm suggests that there might be a more favorable opportunity to invest in ITM Power once market expectations align more closely with JPMorgan's estimates. In comparison to its industry peer, Nel ASA, which also holds a Neutral rating, JPMorgan continues to show a preference for ITM Power in the long run.

https://www.investing.com/news/company-news/jpmorgan-downgrades-itm-power-stock-to-neutral-amid-lower-revenue-projections-93CH-3511215

How did you managed to buy ? IG doesnt offer me any volume to top up but I can sell all my position if I want .....strange !

It broke the 8 days moving average on the technical chart, which is a bullish sign that the SP trend is reversing !

Another chunky buy from earlier this morning has just appeared.....

08:11:55 412.85 169,370 £699.24k