Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Whatever happens to the SP on Friday,
remember that even Elon Musk acknowledges that there's still life left in the oil and gas game for some time:
"If there was a button I could press to stop all hydrocarbon usage today, I would not press it. ... It would cause human civilization to come to a halt." -- Elon Musk.
https://youtu.be/aiRLejymIn8?t=110
SP has been making good progress in the SP 57-76 GAP.
It looks as though someone hit their target today and excited.
WRKS trading update due next Friday (14th May 2021)
https://www.theworksplc.co.uk/investors/financial-calendar
For consideration and perspective:
SP has risen circa 113% from SP 89 (21 Sept 20) to SP 190 (29 April 21).
The current SP 170 is still circa 89% up.
SP remains within the overall upwards direction rising SP channel.
If this is wave 4 retrace of a 5 wave elliot pattern (see my prior post),
then will possibly see SP drop to the SP 160 - 165 range
on the lower support level of the rising channel.
RSI currently 35 (heading to oversold).
May possibly see further drops this week to reach oversold RSI and lower support level SP of the rising channel.
At that point I'll be looking for a breakout upwards of SP and RSI as a sign that wave 5 rise (impulse) may have begun
and consider buying in for a trade.
The above is NOT financial advice.
Always DYOR.
NSS - I'd long forgotten about RRL, yep got my fingers burnt on that one.
ECR and THR are a couple that are somehow still kicking around on AIM,
that at some point in the past I got sucked into the pump and dump of,
then subsequently diluted beyond recovery.
CT - I genuinely can't remember all of the AIM mistakes I've made,
there have been so many.
Earlier on in my investing journey,
when younger and far more impulsive,
I got sucked in far to many times into the "pump and dump" "get rich quick"
FOMO driven world of AIM, and was blinded by "gold fever".
Those times were an expensive, but valuable lessons for me.
I now avoid AIM and follow a technical analysis based "get rich slowly" approach to investing.
I'm also now a short term (weeks - months) trader, rather than long hold investor.
I have no emotional interest or attachment to shares or companies,
I view them the same as buying and selling second hand cars,
they are just a vehicle for making money,
to financially secure my future.
Those early morning RNS words that produce that instant gut wrenching oh fxxx feeling:
"Company (AIM:XXX) confirms that trading in the Company's ordinary shares on AIM has been suspended with effect from 7:30 a.m. UK time today."
and you know full well they are never coming back again.
Just like a "Dear John" letter, but worse!
Also had a lot of money built up over time in woodford's fund,
but kept getting the feeling something wasn't quite right,
finally gave into the irrational fear and pulled the lot out.
Not long after that the SHTF !
Lucky escape with that one.
RIO did well to overcome the continued selling,
which lead me to bail out way too early,
in the earlier stages of the latest rise
The SP pushed on nicely and has hit my original target at the SP 6117 - 6332 GAP.
But an exit with a smaller profit is still a positive gain, so can't really complain.
What next for the SP direction?
Can any one else see the head and shoulders pattern that is forming?
https://www.investopedia.com/terms/h/head-shoulders.asp
Thanks MrA.
The Barclays boss certainly seems bullish:
"Barclays boss predicts biggest economic boom since 1948"
https://www.bbc.co.uk/news/business-56940141
Hello MrA, Rookie, & co,
BARC has become interesting again from a TA point of view,
I may even make a trade entry if it pans out as the TA suggests.
As always, I appreciate not everyone is receptive to TA,
and its not a crystal ball,
but TA is used by the MM and II's to set out their game,
So I'll put it out here for consideration.
RSI had been on a decline since late March,
this week's SP drop has pushed the RSI down sharply to 40.
This decline (SP & RSI) may continue and indicate that
the SP may now have begun a wave 4 retrace of a 5 wave Elliot Wave pattern:
https://www.investopedia.com/terms/e/elliottwavetheory.asp
On the TA chart the BARC SP appears to have been in an ascending SP channel from Sept 20 - current.
Wave 1 = 21 Sept 20 - 25 Nov 20 (Impulse)
Wave 2 = 25 Nov 20 - 28 Jan 21 (Retrace)
Wave 3 = 28 Jan - 16 Mar 21 (Impulse)
Wave 4 = 16th Mar - ??? (Retrace)
If the SP continues to retrace over the next week or so, where will it settle?
SP 160 - 167 sits on the lower support level of the ascending SP channel.
If the SP hits this mark and breaks out upwards again,
that may be the start of the Wave 5 (Impulse) rise towards the upper level of ascending channel.
If Wave 5 rises at a similar trajectory and angle as Wave 2,
it would reach the SP 218-223 GAP where it reaches the ascending channel upper resistance level.
Convenience or coincidence?
Watching with interest to see if this pans out.
The above is NOT financial advice.
Always DYOR.
Based on the negative direction the DLG SP has recently moved ex-divi with on-going buy backs:
BP SP 279 next Friday
Fib 61.8 (1 day Fib retrace TA Feb low - March high)
Sigma1 £2.79
Seen_it_done_it £2.99
Android £3.05
stevebt £3.07
Toffeemen1975 £3.08
NSS £3.10
rjb92 £3.11
Procul60 £3.12
Cleverthoughts £3.13
Wheremymoneygone £3.1
4vince1 £3.15
Share be alright. 3.16
Cong £3.17
Touraco 3.19s
harefall £3.20
mojo7865 £3.25
Spights £3.40
Bought in today at SP 285 for a trade.
RSI is currently 29 (oversold).
SP is on the Fib 50 support line SP 284.
1 day Fib retrace TA (March 20 low - Jan 21 high).
SP has reached the lower support level of an ascending SP support channel (March 20 - current).
Yield at SP 285 is good at 7.7 %
There is also nice GAP above at SP 310 - SP 319 waiting to be filled.
However, I've only gone in with 50 % of what I would normally trade, and kept some in reserve, because:
As suggested by Bananaman, the SP appears to be being walked down in order to fill the buy-backs,
as evidenced by the trades list,
SP ticked down, auto-sells (stop loss), followed by the auto-buys (buy back).
The SP could therefore continue to walk down.
Also results due next week, which may not be well received, see recent events with BP and BARCS.
If support at SP 284 breaks, TA chart indicates next support levels could be at:
Fib 61.8 = SP 270
Fib 78.6 = SP 250
1 day Fib retrace TA (March 20 low - Jan 21 high).
Always DYOR
Quietly confident would sum up this chat board.
SP still ticking up nicely.
Busy boards are the domain of volatile share prices and over emotional gamblers,
who are neither traders or investors.
In contrast this board is a sea of calm tranquility.
"Footfall in England up by almost 200% as Covid controls ease":
https://www.theguardian.com/business/2021/apr/19/footfall-in-england-up-by-almost-200-per-cent-as-covid-controls-ease
Stores in Scotland also now open and trading, along with England and Wales:
https://www.theworks.co.uk/page/covid.html
"Book sales jump a third in first week of bookshops reopening in England and Wales":
https://www.theguardian.com/books/2021/apr/21/book-sales-jump-a-third-in-first-week-of-bookshops-reopening-in-england-and-wales
Touching the void !
SP paid a visit to the SP 57-76 GAP this morning.
https://www.investopedia.com/articles/trading/05/playinggaps.asp
A good end to the first week of shops being fully open and trading again,
SP ticking up nicely.
"UK shoppers flock back to the stores as bumper retail weekend looms"
"Visitors to high streets, retail parks and shopping malls rose by 90% from Monday to Thursday compared with the same days in the previous week"
https://www.theguardian.com/business/2021/apr/16/uk-shoppers-flock-back-to-the-stores-as-bumper-retail-weekend-looms
Ashden - its not worth worrying about things you can't control,
time is precious and finite,
best to use it for positive gains.
"All of our stores across England and Wales are now out of hibernation and
open and trading as normal."
https://www.theworks.co.uk/page/covid.html
BBC News "High Street sales tipped to surge 50% on 12 April"
https://www.bbc.co.uk/news/business-56667980