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End of day chart analysis:
The price is a bit weak but so is quite a few other companies like dark, fres, JD. I’m more leaning towards idea of printing double bottom or even 100p if we go for a retest of the long running downtrend line… unless we make a sharp jump tomorrow (slim chance).
Then there is next week which worries me a bit more with CPI in the US on Tuesday likely being worse than expected due to Red Sea debacle. That might drag everything down in the U.K. 🧐
I’m going to get some popcorn 🍿 and watch these 2 argue 🤣
JW bashed me in October for saying 100p is possible but everyone is entitled to their opinion and no one needs to agree with.
Anyway.. 140p reclaimed this morning.. let’s hope for the best (but expect the worst)
The chart starts looking really good again. I would still carefully maintain my position that 140 is the bottom as retracement from 157. We should start seeing some algo buys going through to push the price above 160. As of today, 160 is very important moving average level that has not been broken for since Feb 2023
We had great rights issue in September which devalued shareholders by 90%. It has some potential now though.. I wouldn’t bet on 1000p but 400p is reasonable price target by end of this year. Not financial advice.
Good finish for the day today around 145. Local bottom at 140 might be in
I think it’s too early to confirm but the price bounced off the 140 level. I did some calcs today again and if I loaded another £60k at 120p, that would lower my average to 155p. Yes, it is 20% back to 186 but risk to reward at this point is questionable. It doesn’t feel the same as getting average down from 930 to 480 or 350 with little effort. At certain point the total invested becomes unmanageable
There are quite a few good opportunities in the market right now. But the market is weak right now. I’m giving myself a cooling down time for about 2 weeks as I had a heavy buying exercise last week. Let’s see whether 140 will hold here. One of the scenarios I’m looking at is return to previous bottom at 118. I might consider adding at that point as buying right now wouldn’t move my average much. As long as my average is below RI price, I’m okish with that