Commiserations indeed, first time back since my last post and the decision to chase Barc at the expense of GKN has to be worst ever. Nevermind, I'm finally starting to take another look at this stock as the SP is finally retracing to back-test that rising support of an old ascending channel. In fact if you run a set of parallel lines from 07may09 to 11jan11 and 09mar09 to 25May10 you have a new wider ascending channel with the 50% line between the two almost defining the old ascending resitance line. %0% is actually 196, my old R line would be at 192. lets see how she bounces but I am now targetting 185ish, approx. the 38.2% Fib channel retracement, as my entry. ATB to all
Well I took profit at 55 as I have no idea whether this merger is a good or bad deal. I also suspect that we will get gap fill which may then encourage me back in.
Hi Guys, I think I may put in a lucky dip for 395. Not checked this BB since July and it looks like I too nearly snoozed away a buying opportunity. Don't normally do insurance but I agree this looks like a dream trade by TA and nice to see ascending support successfully tested!! It must be fate that made me look in. Thanks lwsd for the original heads-up. ATB PS. I still have no idea on the fundamentals of this company, must look into as a matter of urgency.
Wishing you all the best and I would certainly be interested in where you go next. In all seriousness I expect GKN to retest 160 if not 155 in the coming months. At that point I will be back in. If I had the courage of my convictions I would short although as a rule, I never short. So perhaps I will make sure I always have cash available to buy back in. But knowing my luck, this SP will simply sail away from me and be the one that got away. ATB
Congrats on holding out for 180 -did you keep the sell order or are you still holding? I wished I had better learnt the art of patience but I have also learnt the painful lesson of taking profit when its there for the taking. ATB
Been back for over a week now and I'm impressed with how this SP has been holding up. I'm still sitting out, I guess for two reasons. The first is I jumped into BARC at 308 for what was x4 the size of CFD I normally take only to then see the SP slip so I now need to cover my backside bigtime. The other is that GKN has now just crossed over and above a long standing upper trend line for a channel that has been running since early last year (soory no graph to show). Daily Stoch is over the 80% percentile, volume is getting incredibly thin, RSI is 75% and momentum may just be turning. This could still fly higher but I'm nervous it could also turn for the worse. I've had a good run making over a 100 points on this SP but I might now take a wait and see approach. Looks like you may be thinking the same!! ATB
I hope it does keep rising if for no other reason than to see where it gets to. Unfortunately for me I pulled out first thing this morn at 172, just before it dived before recovering. I'll look to get back in on any retrace. ATB
Nice to see that german car manufacturers hey have just had their best Q on record (or was it since 2008). Regardless, got to be good news again for GKN. ATB
I hadn't seen the article. Currently on holiday in NZ and have limited download capacity so I have had to curtail my internet browsing. Its good to see GKN back in the FTSE100 and as you pointed out earlier, hopefully this will now improve its SP which I still consider to be significantly undervalued. AT
and will look to double up at 160. Come on 203!!!
I'm kicking myself today after being tripped out last Friday and then waiting for a good re-entry price. I thought 160 would do only to watch this run-away to the 170's. I didn't mind coming out last Friday on both my CFDs thinking BARC could provide a better short-term gain this week. Its early days but it sure looks like I got that one wrong. Oh well, here's hoping it will retest 160 for support in the coming weeks which is when I hope to get back onboard! ATB&GLA
I sold one CFD last minute on Friday and the other first thing yesterday. I then picked up two more when she fell back to 158. Do you have any idea where this SP is heading -we seem to be in uncharted territory!! I'm thinking 190-200!! ATB
Its one of the technical drawing elements I have available on my CFD account from PureDeal (Ig Markets) which can also be got using ProRealTime. PRT charting is free with end of day data.
I ain't complaining and I took the 140.5 CFD off the table. Too many times I have held out for more only to find the next day the SP gaps down and I lose my profits!! ATB
I bought two CFDs at 140.5 and 145 but cashed them both out last week at 151 and banked the profit. I then got back in this week at 150 and today at 155. ATB
Hi Guys. I reckon she has breached and tested 154.8, my upper resistance line. I've piled in for another CFD hoping this now acts as support. Lets hope she has put the 140s behind her. ATB&GLA
Looks like the americans are back filling the gap on their indices from last Friday's opening, esp the S&P500. Once this is complete I will then get back in as I expect the indices to then rise and gap fill the fall from yesterdays opening regardless of whether GKN gap fills. I'm now in NZ visiting family and friends and I was watching an aussie equivalent of gloomberg and they were predicting there is going to be a rush back into the equity markets before the year is out and that they see Sept as potentially being the best month on record for gains. I cGLA&ATB
I'm still hoping for gap fill back at 144 but if she breaks and holds 153.5 I may need to reappraise when I get back in as i don't want to get left behind!
Yes, a good day and I jumped out on both my CFDs to take profit expecting this to now gap fill from this mornings open. I'm a little worried I may have jumped too early but got out at 146 and 151. I see GKN is like BARC, gaps are nearly always filled but my biggest problem has always been patience!!
I must confess I rarely look at the iii site but I would not argue with those numbers. I have GKN in an ascending channel with 170 as the upper limit and rising. 239 or thereabouts is also the 50% Fib retracement from high to low and I think that is quite achievable by early next year. The truth is IMHO, any price under 180-200 is a steal for this if you are looking to hold long term. I am currently only carrying 2xCFDs on GKN with stops in at 130. As soon as this clears and holds 143, I'm moving my stops and loading up with more CFDs. This is a very dependable and predictable SP and I have high expectations!! GLA&ATB