GVC25 Jan 2019 22:39
52 wk Range 623.5 - 1,184
2018: from Jan it has had a happy time, boucing above and below the 870 mark...that is my base value for the share. It continued to hold at, or above that level until 8 Nov .
UK govt action reduced betting stakes from £2, with effect 19 Dec, by which time share price had recovered from 629 (10 Dec) to 690 on 19 Dec....having digested the likely outcomes of govt action.
Share price continued to rise, 735 on 9 Jan 2019.
Charting on the 5 hour interval since 9 Jan, techs confirm the downward trend, with no great indication of reversal, albeit MACD and RSI indicate it is grossly oversold, with the gap between sma and ema closing since the crossover on 22 Jan that started the current drop from 702 to todays close of 652.
Likeliehood of reversal of trend is not great. US legislation has added to the problem in respect of contract with MGM
17 Jan... CEO statement :
We are materially outperforming the market and taking share in all of our major territories. As the Group carries this momentum forward into the new year, and starts to deliver the opportunities provided by both the Ladbrokes Coral integration and our sports-betting joint-venture in the US with MGM Resorts, the Board is confident that the Group is very well placed for a successful 2019.
That statement takes into consideration UK and US legislation.