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Brutal yes, lost cause, no. A lot of the market is heading toward or even touching their March lows. The V shape recovery is turning into a double bottom. All the conversations of doom are just repeats of 5 moths ago, but at least this time with the chance for the business to operate and recover, which they didnt have 5 months ago.
Well.. a small crumb of comfort but it has dipped to oversold status on the RSI indicator today. Hopefully the trend now begins to reverse on its way back up
Its just the order flow
If I sell 100k shares, and two buyers want 50k each, that's 2 buys and 1 sell, probably not a great example, but you get the picture.
How over dramatic!
Melrose Industries at circa 100p, is the same bargain it was when it was last 100p.
It's a crap time in the market at the moment, but I'm happy to be back in, like I was the last time it was here.
From a technical perspective, its already close to oversold status, with a close to 30 rating in the RSI index so any significant drop will bounce back fairly quickly, imo of course.
Can't seem to put any kind of trend or momentum together, annoying!
What are our thoughts about final figures on Wednesday?
To put it into context
On the 25th of June, the share did around 4.7m volume in the day, and moved between 150 and 156
Yesterday was 3.75m with a -10% drop
Today around 1.82m (half of yesterday) with another 10% drop
Maybe there was a huge seller yesterday, and there is overhang? It's not the most traded on the exchange, by any means.
While it may not explain the drop, there is no significant high volume total in the last 2 days, which suggests to me an inbalance of sort, you would usually expect a huge selloff to be supported by a big volume number, likewise a big buying movement.
2 days of -10% for what is a relatively stable holding, in the current times, is very strange.
I thought it was a bargain at 70p
Ridiculously oversold
Someone give it a push! Its been threatening to move its ar$e for days.
It will come!
Not to mention that human psychology is such, that overly focusing on the losses doesn't allow you to remember that only 12 days ago it went upwards in even more of a % than it dropped today.
It's not for the faint hearted! The fundamentals haven't changed.
Well, nobody can deny Its gone right through its ar$ehole, that is done, positivity now is that it is a huge 'oversold' signal, and hopefully tomorrow begins the ascent back up again, enjoy the ride! I've certainly topped up today.
I don't think solid is a good word for Ceres, from 486 to 570, and currently around 520, in the space of a week! Nel has hit the buffers aswell.
There isn't much of a correlation between any of the players in the industry at the moment, where you can expect them to follow one another, let's see how it plays out.
You have to go with what you believe in! The only fools are the ones who act without giving themselves reason for doing so
I believe strongly in trends/technicals, and smiled at the growing panic when it hit the 275 range within what must have been the timeframe of an hour.
Some put their belief in the fundamentals, and laugh at me.
I guess im young enough that this could go back to 100p and I'd just top back up. Understand that may not be the situation for others
Whatever your situation, do your research and do it well