Charts are suggesting there is quite a lot of support around the 304-305p level
RSI of 20 = oversold
A jump up from here sees next resistance around 347p
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Just been doing some analysis and I see the next support level at 718p
697p and then 660p-670p is the extreme bearish view.
Next resistance level is at 765p btw.
You have not explained where you got your 660p from?
It has not been at these levels for many, many years so where are you getting support at 660p from??
Also if the company released an update on the £450M investment that caused this drop it would render your charts irrelevant would it not?
Perhaps you can enlighten us where you are getting this magic figure of 660p from?
I have also looked at the charts and this share has not been this low for 4 years and not been in a slide like this since 2008 when the SP bottomed at 220p. So lets get really silly and say support is at 220p which means P/E = 3 (!!)
I can see there has been support at 740p in the past not 660p.
Nothing wrong with the results IMO
Yes growth has slowed but this was never priced as a growth share and certainly has not been in recent months. Revenue and profits are stable/flat giving a P/E of 14 and a dividend yield of close to 9% (!)
Historic P/E here has been closer to 18.
Goes ex-dividend on 4th May.
I maintain a more realistic and fair price here is ~ 300p.
Brokers are targeting 400p.
Watching the Technicals on Shares of Berendsen PLC (BRSN.L)
Checking on current RSI levels on shares of Berendsen PLC (BRSN.L), the 14-day RSI is currently standing at 33.58, the 7-day is at 27.77, and the 3-day is resting at 16.96. Relative Strength Index (RSI) is a frequently used technical analysis tool. RSI helps measure changes in price movement of a specific equity. RSI is a momentum oscillator that moves in a range from 0 to 100. RSI is generally used to interpret whether a stock is overbought or oversold. As a general rule, an RSI over 70 may indicate an overbought situation.
On the other end of the spectrum, a reading under 30 may indicate an oversold situation.
http://bvnewsjournal.com/watching-the-technicals-on-shares-of-berendsen-plc-brsn-l/31272/
It is not just this site where I check such things.
A margin of error of >200K is large don't you think! Highly worrying for the 'regulated market'.
Also I firmly believe there were more buys than sells as most people believe this is highly undervalued with brokers also targeting 400p+ and results due Tues. I know plenty who were buying and no one that was selling.
RE: 23p Divi, goes ex divi on 6th April24 Mar 2017 22:30
Answer = there is nothing logical about the stock market & the UK market in particular seems to be poorly regulated from my experience.
Over on the Card Factory board I have posted how the buys today outweighed sells by a ratio of 3:1
Volume shows 300K buys vs 100K sales and the SP closed DOWN by 2% (!)
Buys and sells are not always reported correctly but a 200K difference is not even close.
Explain please.
I doubt anyone can and the bigger question is what this says about the UK stock market and the FCA. Shocking.
Absolute madness that the SP finished down today and tells us all we need to know about how 'regulate' the market is.
Trades
663
Volume sold
88,201
Volume BOUGHT
303,941
Buys are 4x the sells and the SP closes down 2%.
FCA pull your ****** finger out!