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Ended up holding for the divi.
Ex-divi drop was to be expected, plus the whole market is taking a beating again today.
As the yield is currently over 7%,
added some more today at 635 to lower my trade exit target price further.
Hope the knife dosen't cut too deeply !
Mark,
my recent BP buys/sell:
Buy at 313 (7 July)
Buy at 308 (7 July)
Target exit sell at that point was 335.
SP continued to drop.
Buy at 289 (averaged down) (31 July)
Average now 301.
Target exit sell was now 313.
But sold the lot at 310 (10 Aug).
Not currently holding BP.
May consider a new trade if the range pattern comes into play next week.
Thanks NSS.
To be fair the BP price has again followed pretty much textbook TA moves this week,
and is now sitting between Fib support at 304 and 306 (depending where you draw your Fib plots).
The RSI has dipped a little bit today,
but I'm going to remain optimistic and suggest we may see a period of sidways range trading
between about 302 and 313 (as occured previously in May).
In which case my guess for next Friday close is midish range at 308.
As always DYOR.
All the best, have a good weekend.
Have held these for a trade at 674 since June.
Should really have sold on the 2 days since then that the SP hit 700.
But didn't as the TA hinted it might stretch up to 720 at some point.
Added at 666 today to double my holding.
Now hoping for a suitable (lower) trade exit next week before ex-divi.
But wouldn't be suprised to see a quick dip to circa 656 on Monday.
Yield is circa 7% at this low price,
so not the end of the world if left holding for the divi.
Good luck next week holders and traders.
Support at circa 2650 has held for 4 days now,
but will it last?
If you draw a trend line from the Oct 20 low,
through the Feb 21 low,
and extend it into Aug-Sept 21,
it suggests a possible low of circa 2570 towards late Aug.
For now I'm still waiting in case support breaks and SP continues downwards.
Ex-divi at the end of Sept.
Always DYOR.
Some take the view that buy-backs lift the price by absorbing the sells.
Others (including me) suspect that a ceiling (acceptable highest SP) is set for the buy-backs
and the II responsible for processing the buy-backs then churns over the sells and buys
to keep the price below the ceiling whilst the buy-back is completed.
Maybe I'm just an old cynic!
Mark,
yes have now sold BP to lock in the gain rather than chance it slipping away again!
There are lots of differing opinions on buy-backs,
some people some like buy-backs, some people hate buy-backs.
Personally, I don't like the way they artificially effect the normal share price action.
Was hoping for another push up this week leading to ex-divi and a suitable trade exit.
But it looks like the share buy backs have set a ceiling (301-302) and are holding the SP down / back.
Have seen this so many times with buy backs, but never learn my lesson!
In hindsight I should have sold at 310 last week for a tidy profit.
gilteddge,
S&P 500 long term:
https://www.investopedia.com/articles/investing/030916/buffetts-bet-hedge-funds-year-eight-brka-brkb.asp
However,
to me the S&P 500 currently looks to be way above its normal long term average trend on the chart.
I'm waiting for a decent sized downward correction to occur.
The ESG effect weighed heavily on BATS over the past few years,
but it does seem to have found a more stable trading level for the time being.
The II's who were divesting due to ESG seem to have finished parting ways with BATS,
to hopefully be replaced with major shareholders who have profit and returns as their primary focus.
There is some useful information regarding major shareholders
in the latest BATS company accounts (up to 31 Dec 2020) filled here:
https://find-and-update.company-information.service.gov.uk/company/03407696/filing-history
Share holder info begins on page 326 of the accounts report.
UK shareholder register 31st Dec 2020.
36648 shareholders of 100% of UK ordinary share capital.
307 shareholders held over 500,000 shares each.
307 shareholders held 85% of UK ordinary share capital.
Major holders of issued share capital included:
The Capital Group Companies Inc
BlackRock Inc
Spring Mountain Investments Ltd
Some further BATS info here:
https://www.marketscreener.com/quote/stock/BRITISH-AMERICAN-TOBACCO-4001163/company/
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Always DYOR.
Evening MrA,
yes, as RIO seemed to have topped out at 6300 this week, slightly lower and earlier (before the 6400 GAP) than I had hoped from the TA,
I adjusted my BARC auto sell down to 184 in case the market was getting jittery and losing momentum.
Came withing touching distance of it today!
The other reason for the downward adjustment being the 170 - 172 GAP (28th July) on the BARC TA chart.
DLG gapped up on Monday (302-304), peaked on Tuesday (319), and retraced (302) to fill the GAP today.
Previous TA behaviour suggests BARC may also retrace to 170 to fill the GAP.
Hence aiming to sell at 183 (hoping on Monday) and possibly buy back if the GAP does get filled.
Always DYOR.
Yep,
looks like its being walked down.
How low will it be taken is the big question?
RSI continues to fall.
Its not unusual for BATS if you look back over the TA chart.
I'm watching and waiting for a suitable entry for a trade.
Based on the previous circa 8% SP rise seen from earnings date (26 Apr 21) at SP 291 to divi date (5 May 21) at SP 318,
I've doubled my holding this afternoon to lower my average SP and exit target price to within that range.
Some times you just have to roll the dice and hope!
# Not financial advice !!!
Goodluck next week everyone.
MrA,
SP gapped up this morning on opening,
would prefer to see a slight retrace to fill the GAP before lift off.
Previous examples:
23 Oct 20 - Gap up on open.
28 Oct 20 - retrace Gap filled.
3 Nov 20 - move up begins.
15 Feb 21 - Gap up in open.
18 Feb 21 - retrace Gap filled.
23 Feb 21 - move up begins.
My auto sell exit is set at 189.