Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Nice shooting star today. Trend line providing good support, making me more positiver about sp.
IMO the sp drop in the last two days provides a fantastic entry point. I'm tempted to wait a little bit more and see if 295p provides a stronger support though.
After a technical rebound, the stock is showing signs of weaknesses near to the GBp 2833 resistance. Regarding a fundamental viewpoint, analysts have recently revised downward the earning per share which is often the results of recent activity weakness. Moreover, the earning per share in 2014 has been published at GBp 44 per share which correspond to a decrease of 9% compared to 2013. This decrease can be explained by margin degradation. Graphically, the stock went through a period of rebound in recent sessions towards the GBp 2833 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the GBp 2260 support area which will be the first bearish objective. Therefore, the most offensive investors can benefit from the technical configuration to take a short position. The objective will be fixed near to the GBp 2260 support. Only the breakdown of this level would open up new bearish targets toward GBp 2000. The stop loss will be set above GBp 2833.
Duncan Anderson, Chief Executive Officer of GMS, said: "As we discussed in our Interim Results, demand for our SESVs across the MENA region is excellent and the market for our assets in Europe also remains strong with our entire fleet of ten SESVs currently chartered. Our backlog has increased by nearly 50% since August with recent contract wins. Our clients are responding to the low-cost benefits that our SESV solution provides them, which is increasingly relevant in the current oil price environment. The outlook, driven by our core brownfield (opex-focused) oil and gas client base, underpins our expectation of continued strong demand going forward. This, together with our ongoing new build programme, will help to maximise opportunities with existing and new clients."
Obviously it didn't (just touched 1833 and headed back again). Let's see how it goes tomorrow. Betting on a re-trace back to 2260p.
ASC has had a good run over last 3 weeks. Now approaching an important resistance level at 2833. Hopefully it will smash through this line.
Good lift today. Looking at the chart there is more to come tomorrow. 148p is the new target.
JP Morgan closed more of their shorts this week, and now are close to falling below the 0.5% reporting threshold. Bears are slowly giving in. http://shorttracker.co.uk/company/GB0030927254/all
Ditto! Quality info.
I genuinely feel RGS is a good share and I've made money with it last year around the same time (and may even buy again soon). But note that in his 24/09 update the NT said he picked up some at ~220, and following that, the sp continued sliding down to 193. So, probably needs patience. Sp may or may not achieve the 250/300 level any time soon.
""The market in Europe for our flexible assets continues to be strong and we are seeing an increasing demand for our sophisticated self-elevating support vessels for shallow water brownfield maintenance to extend asset life and production, well intervention and enhanced recovery," Anderson added." "It said its current backlog, including firm and extension options, is USD547 million." http://www.4-traders.com/GULF-MARINE-SERVICES-PLC-16023308/news/Gulf-Marine-Services--Wins-New-Large-Class-Vessel-Contract-In-North-Sea-19302895/
I remain cautiously optimistic. Hedge Funds are slowly reducing their short bets (JP Morgan and AQR). Sp approaching an important resistance level at ~2500p. If it can clear this level I'd be looking to add to my current holding.
Maybe this (UT)? http://www.jargon-free.com/auction-and-ut-trades/68/
FXI have not paid a maiden dividend yet, have they? I think that will help, because everything else looks good.
When is PIC likely to update the markets next? Any idea?
Although I personally agree with the arguments, I also note that hedge funds have closed some of their shorts in last few days. Tiny movement I agree, but give me hope... http://shorttracker.co.uk/company/GB0030927254/all
There does not seem to be much resistance now before we get back to the 293p level the sp was about a week ago. Hopefully it will smash through that and hit new highs.
Nicandro Durante, Chief Executive, commented: 'The trading environment remains challenging due to continuing pressure on consumer disposable income worldwide and the slow economic recovery in Western Europe.'
I've not read the full report this morning, but from the first bit, fells like there is more reason to think the sp will continue sliding for the foreseeable future. Margins and consequently profits are shrinking and at best they expect the profit to be the same next year (which they had advised previously).
Wed, 22/10.