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LONDON, July 29 (Reuters) - The owners of British cable group Virgin Media have joined forces with an investment firm to plough around 4.5 billion pounds ($5.5 billion)into a new fibre broadband joint venture that will pass 7 million premises, in direct competition with BT.
Wood has secured a new multi-million-dollar front-end engineering design (FEED) contract by ****stan Refinery Limited (PRL) for its planned Refinery Expansion and Upgrade Project (REUP) in Karachi.
https://www.woodplc.com/news/latest-press-releases/2022/wood-to-strengthen-energy-security-through-prl-refinery-expansion-and-upgrade-project
Acuba, I'm as blind as you are when it comes to understanding why prices go down when there are more buys than sells (and visa versa).
My take is this: we all think more buys will push the price up and more sells will push the price down.
But if there is a large buy order or sell order by a big holder/institution, it works the other way.
For example, if a big holder want's to buy 500,000 shares. Other holders have to sell 500,000 shares.
For that reason, the price is pushed up to encourage holders to sell. So it looks like there are more sells than buys but the price goes up. Same goes on the way down.
A big holder want's to sell buy 500,000 shares. Other holders have to buy 500,000 shares. For that reason, the price is pushed down to encourage holders to buy. So it looks like there are more buys than sells but the price goes down.
That's my uneducated take.
I always look at the uncrossing trade at the end of the day as that does usually balance things out.
But today with Wood, the uncrossing trade was about 500,000 sells but that was included in the figure I mentioned before:
Vol Sold: = 1,185,019
Vol Bought: = 1,931,780
I'm down but a happy holder because I don't expect to be in profit all the time.
What matters is the price when I want/need to sell.
As sure as I can be if I go by the statistics on this website.
Look here: https://www.lse.co.uk/share-fundamentals.asp?shareprice=WG.&share=Wood-Group-J
Vol Sold: = 1,185,019
Vol Bought: = 1,931,780
It was a buy. If someone is happy to buy that amount now, that shows that someone is happy to invest £1,000,000 in Wood right now.
I was holding when Wood hit 152p and my average was 204p.
I've managed to bring my average down to 172p since then.
Wood awarded owner’s engineer contract for Cameron LNG expansion project
https://www.woodplc.com/news/latest-press-releases/2022/wood-awarded-owners-engineer-contract-for-cameron-lng-expansion-project
Aucuba, don't take comments on here personally. We are all but a username on a screen.
Anyway. When Wood hit the last low on the 7th April @ just above 150p, my break even was just over 204p.
Today my break even is jut under 172p.
We can complain about a stock or we can trade.
Complaining will do us no favour.
Trading on the other can help us take advantage of volatility.
There are times to sit and hold. Volatile times is not one of those times.
I think the price could rebound after the conf call.
I was unhappy when I first started reading the update but that's before I realised the year end numbers remain unchanged.
If they lead by the fact that everything is on track, then the numbers would not have made me feel as bad as me just reading all the negative numbers at the start of the update.
A lot of people may have just read the first few lines and panic sold.
These are not poor results. They are F**##@@g S#@# results.
I'm tempted to top up
I was looking at the drop yesterday and noticed some decent automated buys each time the price got close to 190p.
I jumped back in with an average in the mid 190s.
Yes it could go lower but a decent contract would have to lift wood back up.
There is a good chance the AGM next week could result in a big move up or down.
Pulled the trigger yesterday so will be hoping for a move up.
Now you have more than double the money to put into another stock for your long term divi.
National Express are expected to pay a divi next year.