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What are your thoughts on the lack of buyback take up? I assumed we would see a daily update of buybacks buy it seems to have petered off lately and I am not entirely sure why. Fibanacci ha ha that is complicated, I just base a rough 50% retrace when I am looking at wave pullbacks.

hi oldboys, support is resistance and vice versa in effect: it's based on previous points whereby price has peaked or bounced back from. Charts generally tend to follow a relative pattern, it is not exact all the time but it provides a way of building up a picture, alongside fundamentals and macro environment, to give you (in my opinion), a safer investment choice to buy or sell. Try this site as it is pretty basic and easy to understand the basics of technical analysis/ charting, although you should always bear in mind it takes a fair amount of time to get a feel for it and it should never be substituted for other important company research. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis all the best

I bailed at 319.5 to lock in profit and looking for a backtest of 310 for another ride up, well that's the plan... good to see the charts playing ball though

Can it break above 310 today? sat on the 20 day sma and moving up imo.

https://www.bloomberg.com/gadfly/articles/2016-08-25/mike-ashleys-spot-of-house-cleaning Interesting article

I suppose it would come down to whether MA wants to take a back seat and do other things, he could have an advisory role which would appease the city but he tends to like a fight so it is unlikely he would concede the seat. Saying that, if he wants a more reflective share price then he could certainly sort the working condition mess with haste and allow for some positive news to feed through and bump up the price. Have a good weekend all.

The 20day sma has just crossed the 50 day sma and I fully expect this to be an upward movement for some time, short to mid-term and tidd is correct in hopefully all of the bad news is out of the way. If it fell much below rough 300 support I would be very surprised.

Yes I stand corrected it couldn't break and hold above 309 yesterday other than the anomaly buy at the end to close at 310 but always looked rather weak. Good foundations to build upon though.

Expect the board will be sweating on the price improving a great deal prior to agm and facing some of the large investors in the q & a.

Apologies for the jargonised comments, just chart reading really. For me it adds a good idea with which to base my investments on and then I look at fundamentals and newsflows plus director buys, sector trend and market trend. For example, the FT100 & 250 for me look toppy if you look at the historical chart and factor in the lack of depth in Brexit affect on overall economy. However, even when it is toppy, there are plenty of sectors and companies that have not followed in line with the overall recovery price in immediate aftermath of Brexit. Sports Direct is one of them and although it has other factors that reflect a certain negative side, I cannot see this hanging around at this price for much longer as it looks entirely oversold on all factors I consider. Having said that, it is entirely my own opinion and not to be used as guidance for investment. As always, dyor and gino if you want to read about technical charts - here is a site I use quite often for a quick an easy reference... http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis

Morning all, TA for this is looking fabulous, 20day sma about to break through 50 day sma, rsi at 60 showing a strongish up trend signifier, stoch shooting up. I think we may be testing 320 resistance by end of this week, if it can break through and hold, next target is 334 rough area. Assuming there is no further negative news, the technical side is looking rather rosy short-term at least imho, dyor.

good spot tidd, i did have a look around but couldn't find what you were able to, seems reasonable. Should see a fair increase in volume then over next few weeks. Buyback will be at cheapest price they can get I suppose, but the intent is to address the fall in price so rather a paradox i suppose. Can see it rising imho: the main reason for the drop as i see it - bad press (partially deserved) due to workers pay and conditions, brexit, and fall from pound vs dollar which effects profits. However, either the £8 per share was someone's wet dream, or this is oversold in a major way. Time will tell I suppose...

As far as I can see, they aren't any rules regarding % of daily volume limits on buybacks.

Less shares on open market added to buying pressure volume, in my opinion that can only equate to a price increase, from experience but we shall see.

If it is in an RNS then it will happen. It is whether Citigroup will buy in bulk nearer the time or a general drip drip buying policy.

Had a brief calculation of the share buyback. Approx 29mil shares to be bought and held in trust by SPD up to 7th Sept AGM. Current buyback sits at 1.75mil leaving remainder 27.25mil unbought. Assuming there are roughly 13/14 trading days until the AGM, per day buy volume (solely buyback) would be 2mil per day. Average daily buy and sell volume is currently just over 2mil. Therefore, it is safe to say, there will be a great deal of buying pressure which should affect the price in a positive manner - added to the fact for each share bought and held in trust, there are less available on open market and by proxy should also provide a price boost. Either way next few weeks should be very interesting. All imho, dyor etc

The RSI currently sits in the 60s which suggest a relatively strong trend (anything that remains above 50 is generally considered to be, amongst other indicators). However, other indicators suggest the trend topping out i.e. very high stoch and macd. Resistance imho seems to sit around (minor) 320 and again at 335 (major). On the interesting side of things, the share buyback until the end of August should keep holding up the price and then see what the meeting in September brings with regards to further buybacks - imho, dyor.