Drop coming IMO - this is why2 Mar 2021 14:51
now that the date has been confirmed at 17 March, there is still over 2 weeks for the MMs to play this
They know there were a lot of PIs with sells at around 50p (I took 25% of my holding out today)
IIs will get a feeling for the results next week - if they want to top up, then the MMs will shake this like mad over next week
Either way, I cant see us being above 55p on 16/3 - if thats the case - 50-55p wont shake enough people so volume will be low - if they get all the 50p sell limits (49-51.5) then they wont want the 59-62p limits until they know the results
This leaves lower volume in the 52-54p range - for 2 weeks? They need trades to make their margins
I have now got my sales, as buys - down as low as 43.9p ( a wild 38p for 30 mins is possible according to Eats charts)
I would suggest all stop losses are cancelled for the time being
I always said, I would trade this through the 40s and Ive had a bit of success - but hope to get more soon
My average is starting to rise now (still low 39p) but next trades will take me above that (not bothered obviously as Ive taken good profit out already)
I have a 55p sell for 10% also
Ive always been convinced the results will be very good and should see us 60/65 by 19 March - but thats a long way away in CPI terms!
SO - my warning - dont be surprised where this goes for the next 10 days (38-55p possible) - but be careful of one major tree shake and check your stop losses.
GLA and DYOR