Member Info for Velo

" Master Magician Elon Musk appears to have found such a doorway, how else do you explain Tesla's valuation? "

---------------

Tesla has never , ever, made a profit in its entire existence
- nothing but loss after loss, year after year!

How do you explain the high valuation?

Well, hold your breath but Tesla is due to announce its very first-ever net Profit for the year just ended at Dec 31st and will announce their Q4 at the end of this week or similar in Feb, to BT.

It's forecast to be a little higher than BT's net profit - for last year, not the lower BT net profit forecast for this year ending in March.

The forecast for Tesla next year is a lot higher net profit - greater than any net profit BT has ever produced!

First we need to see if the results match the forecasts. And first up is their Q4 in a few days maybe - it's separate from the full year announcement which will come a month or so later.

Recent trading update from Musk on the Tesla site where Musk says all on course to meet guidance forecasts, so looking good for the forecasts - but as ever, let's see what they do deliver in net profits first.

Just knocked out some guidelines for tomorrow, and a bit taken aback
- every single support is below triple figures. So need the SP to show some strength tomorrow. It usually does when faced with such a unified set of bearish pivot points.

Should some really strong buying descend tomorrow then the upside resistances bear no relation to the supports and are quite impressive; that's if the SP turns in a strong performance and heads back up into Overbought area.

Hey Caution, yes it depends on the size of your holding - if large then you'll notice a substantial drain £££'s-wise. It's just plain old zig-zagging at this stage. I do have a second concern over mean reversion - but I don't think that's due just yet, so I think you know yourself that you'll get over this.

If this goes deeper, you might go ouch; others like myself might go in for a topping-up opportunity :)

A lot of bearishness in general throughout UK markets today, it's not just SLP alone - Anyone recommend any brill chip makers worth investing in? :)
Either US or UK based?

" Please tell me that after today we are now out of "Overbought" territory Velo. "

--------------------

- Yeah, you've got it Craig.
No messing about now. No algo's changing the charts behind my back. The SP has defo dropped out and below Overbought condition, but could just as easily re-enter with the trading update imminent :)

It's in the upper deciles of bullish Relative Strength, so a bit of overhead room been cleared for further progress - but I'd like to see a bit more before the update drops into the RNS box.

Potentially high 90's as a support, if it's a mind to IMO
- but will calculate some pivot points before turning in for the night and post if relevant and see what potentially might or might not be on the cards specifically for tomorrow in isolation.

" I only see this on repeat of the "seasonal" movements that Velo alludes to through January and February which has held true for the majority of the years I've been in here. "

-----------------

Thanks for that Stoodio. It pays benefits for there to be longer term holders of many a year to be present to counter any assertions we make that may be erroneous and can be countered with : "I don't remember it like that" etc., as there were several retraces over the years that with hindsight looked like excellent topping up points - and when applied forward - but what's needed is someone who was present back then to reveal the investor despair or suchlike that affects sentiment during those retraces and makes investors rue passing up on an opportunity.

So it may be possible to multiply forward some of those occasions but sentiment when faced with say a major crisis, affects all, and it's only with hindsight we realise a golden topping-up opportunity has passed us by and was not a crash in a particular stock or market. Rambling now so I'll finish here. :)

" So the softening in the price has nothing to do with global car manufacturing lines being closed down due to a chip shortage that is not expected to be resolved quickly."

-------------------

Reason/reasons are not the issue. Overbought is a "greed" condition where investor exuberance propelles the SP upwards at a FASTER rate, than would otherwise be the case, and usually stings a little when the SP exits that condition.

SLP has been in and out of Overboughts left right and centre without injury. So I held back from mentioning them.
But eventually one will sting, needs to, as it usually promotes a more healthy sustainable advance thereafter, but a hot stock or say successful disruptve stocks are always in and out of overbought on a regular basis, usually without much ado happening.

The "reason" for each exit will always be given as this or that - but it's irrevlevant
to the condition
- It's the speedy, over exuberance of the SP, that needs calming down to a more sustainable level of progress, to prevent a bubble forming.

Thought there were more similar quotes (speed reading but no, turns out there wasn't) but just in case there's a wider audience holding similar sentiments.

Quotes from this forum:

" So the softening in the price "

" Ouch. ...that hurt. "

-----------------

- Couldn't disagree more!

Consider, the year (2020) closed at circa 87-ish, and that only after a mad rush from Christmas week from the high 70's up to 87 or so.

I had been optimistic of a great January and February and held back on posting of precise expectations for Jan until the opening day of January was in. The first day of Jan closed on 89p. And that was exciting - 89! But even at that giddy height I applied the expected increase for January's close and posted of expecting high 90's to end January.

How brill was that by the SP? High 70's Christmas week, then to year end of high 80's and yet expectations (at least on my part) were of high 90's by the end of January.

So what ouch that hurt? What softening?

As far as I'm concerned the SP has OVER delivered currently (yes, it's still under-valued compared to the industry).

To break 100 (which carries its own innate resistance as all fat number do: £1, £5, £10 etc.,)
So nearly posted of the SP needing several attempts to hold 100+ before moving clear - yet it whizzed past 100 without so much as a bye or leave. Bravo!

So if Jan closes below 100 in the high 90's it will be a most pleasing, successful performance by the SP.

If it holds on to triple figures even if it's only 100 itself - will be a joy to behold.

Balance required on the magnificent performance on where the SP has come from in such a short time ie., from 37/40's last July.

Now on to what I really wanted to look at/post (running out of time at this hour) and should any posts that follow sound downbeat from me - please refer back to my pleasure at the current achievement of the SP.

Had no problem viewing that link once everything before "bt" is deleted, to leave:

bt-group-plc-ord-5p---consensus-indicates-potential-110.9-upside/412955727

------------------------

Fleccy, without a shadow of a doubt you are a valuable resource for this site. Only a very few posters on only a few of these forums contains one poster who is a recognised expert in their field, and on BT telecoms engineering - that's you.

In any telecoms engineering debate my default decision is to support your view over others as it's proven worthwhile in the past, despite my not understanding a single word of FTTC/GPRS and the like, that goes right over my head. There are others, but your telecos engineering contributions are invaluable.

Having said that, The contents of the post you link to, are sheer rubbish, with only one, no, just two numbers correct - all the others are patently incorrect, and I regard the reporter as mathematically inept. It's what's known in that industry as a puff filler piece, and has not been fact checked before release. The first clue something is amiss is when the reporter offers the range of analysts SP valuations as between two points with the lower point being given as £2.35

235 - is the lowest broker SP forecast ??? C'mon. LOL!

Surely most remember Deutsche Bank and their £1 forecast, now uprated to £1.25? Just pop your head round the brokers ratings tab up above, and you'll be met with a slew of other brokers quoting LOWS of -

Credit Suisse: 185

Citygroup: 110

Deutsche Bank: 125

Barclays 115

Berenberg 139

(On screen I'm seeing the current average broker's forecast target as 158!)

And yet the reporter blithely states the lowest forecast by analysts is 235!
And produces an erroneous figure on a false premise. Wot a load o boll@cks!

(Also, it's well known that on balance sheet metrics, BT has been undervalued even against declining earnings. I have a lot higher valuation SP (way higher) than that rubbish report suggests, based on industry average P/E's compared to BT's, but formed on verifiable data not inaccurate quotes).

The rest including the number of brokers, is all numerically and factually incorrect, but to detail and explain the whole lot will make this post too long. If challenged and the time, I can deconstruct every single line and every figure down to that graphic mid way.

Fleccy, it undervalues you, in promoting a totally inaccurate puff filler piece for no other reason than confirmation bias, because you thought it was saying something nice about BT.

And now I've used up my time to study and unravel today's price action.

. . . Concludes >>>

. . . However, trying to predict prices is where I will come unstuck, following trends is serene and a more sane approach I have found, and so as the shorter term-only trend lines are bearish, my preferred state of mind is to accept the SP is in a short term bearish slide, and await the first signs of those trends expiring and only then join sides with any new trend.

Personally, I believe this current bearish trend is likely to be short term only, so maybe that leads on to the second query:

" Does this mean the next 2 weeks will be slow and similar to the week just gone?" is almost impossible to answer.

Trends and indicators are not yet offering hope of a recovery, and that's my default Trend Follower's opinion. Trouble starts when I deviate from the trends, and they are not yet showing signs of terminating this pullback.

However, allowing myself some personal bias as we all do either knowingly or unknowingly, I'm leaning towards, this current pullback as not having the legs to drop below the 130's.

Follow the trend until it bends.

The more intermediate/medium trends are bullish, the shorter term trends are bearish. Should the infection spread to the next layer up, I'd become concerned.
- My inner bias leads me towards thinking this pullback, will not progress below the 130's.

Kevin1977 @
"Does this mean the next 2 weeks will be slow and similar to the week just gone?
I noticed yesterday there were lots of buys, some big. Will this move the share price up on Monday?
Thanks for anything you can give."

==========

Hi Kevin,

Whilst I have the time, I'll start with the 2nd query first:

" I noticed yesterday there were lots of buys, some big. Will this move the share price up on Monday?"
- - - - - - - - - - - -

Whilst volume was lower in the days prior to Friday's volume, Friday's volume was still only nearer-to, the longer term average volumes and not higher than average - so no, IMO it doesn't necessarily follow that the SP will be up on Monday.

Volume was noticeably increasing from late October'20 to early December'20, in line with the bullish breakout in the SP, and thereafter, started falling below the average compared to that previously, and the fact that volume has fallen back somewhat even further in later January, leads me to believe that this pullback is modest and steady, and should volume remain under the longer term average, then I don't think this slide in the SP has the legs to develop into a full retrace.
But that's just IMO only :)

Additionally, just ran up some pivot points for Monday, and not one of the three tightly-packed supports is anywhere near to being below the 130's, so sticking my neck out a country mile, I'm leaning towards the conviction that for Monday alone, should the SP slide continue, it will defo not fall out below down into the 120's - for Monday, just Monday alone.

By the way, all resistance pivot points are in the 130's also
- So for Monday, the SP is looking locked-in to the 130's whatever happens.

And -

" Does this mean the next 2 weeks will be slow and similar to the week just gone?"
- - - - - - - - - - - -

Ha! The $64,000 question. Does anyone really 'know'?

I can offer opinions as to what seems a trend, and whether that trend appears to be terminating or still active and draw conclusions from that, but that's all - personal opinions.

It's true that the bearish slide of late in the SP, has infected the next stronger trend above it. (I have just added a trend line from the group above that to the short term trend and is suddenly alarmingly close to the SP at only 133, so there is a clear danger that the infection could spread, as all indicators are bearish, as are the lower trend line averages, so the SP is a bit unhappy looking, but even that next larger trend line is still in the 130's suggesting with the 'only average' volume that this pullback may dissipate away without ever leaving the 130's.

However, trying to predict prices is where I will come unstuck, following trends is serene and a more sane approach I have found, and so as the shorter term-only trend lines are bearish, my preferred state of mind is to accept the SP is in a short term bearish slide, and await the first signs of those trends expiring and only then join sid

Well, it was intraday, when I posted in this thread last Thursday, that the SP has now:

" Currently (mid afternoon) that's the SP now descended just a fractional smidgen out of overbought territory into the high bullish area of Relative Strength. Could do with a bit more."

Should have delayed until the day closed, as by day's end the SP had debateably travelled a minute amount back inside the doorstep of Overbought condition
- But Friday's performance confirmed SLP was very definitely back into Overbought condition, and such is the construction of the Relative Strength Index, it has erased all evidence of the SP ever stepping out temporarily of Overbought and that's what he history books are showing - it never stepped out of Overbought at all!
Period. End of!

Tsk!

Next week is the end of January. So, we'll see what's-what by Friday's close.

There does appear to be a contingent of investors, be they funds or large Pi's, who do, by their actions, give weight to the theory that SLP has shown in recent years to be a stock whose SP performance adhere's to the axiom:

Buy on the news - Sell on the results.

The original thread-poster has made a typo, you can't find it because there's a "d" missing from the title header.

It's poundf.

Here -

http://poundf.co.uk/bt-share-price-forecast

------------------

(It only contains half a dozen stocks, including Lloyds :)

That site comes up regularly on here.
It is constructed as suggested by others as:

". . . many of these forecasting sites run a simple statistical calculation based on price history and trend . . . "

- and is probably a combination of extending current trend lines well beyond their design limitations into the future - and into infinity if you want to, probably with an addition of 'seasonal' data for the average peak and troughs per month of the year.

It's not half bad up to a few weeks forward, but the 3 years or so ahead are no better than pure random opinion guesswork, taken from abusing averaging trend lines beyond their design limitations, and presented as if taken from some rare book of magic answers.

When the SP is in a nasty downtrend, poundf's future years dropped as low as the 60's for BT.
A bit of a rally and all that "future" gets wiped out like a dissolving photo in Marty McFly's hand, and they lift their forecasts up. So the future they predict only lasts if you have a Back To The Future, time machine, ready to take flight that day.
In essence, the future they predict is as volatile as today's price and is indeed, rooted in today's price.

For instance, as the SP is currently trending in a slightly bearish trend, poundf is showing the SP to continue dropping slightly until it closes Jan @ 129. And from then on back up into the 130's in February. So far, so not very arguable.

This year, 2021 (calendar end) they have closing on 118
2022 closing on 95
and Jan 2023 remaining in the 90's.

As I've posted in past years, it's a site for pure fun only.

PS. "Seasonality" charts for BT are showing the best months for this year to be (75% confidence) Oct, Nov and Dec (that was certainly true in 2020 :)

With the month of May (50% confidence) to be the single worst performing month of the year.

Also, Feb & March SP (only 25% confidence) performance looks quite desolate 'seasonally" but not as bad as May - seasonally speaking :)
As said; for fun only.

---------

And on that note, later on, I'm replying to a poster below, directly asking me, what to expect over the next fortnight, and to include this Monday too :)

As expected, the Ultra Short Term trend is bearish, and had threatened to do so, just as I posted the table below last time, which then, was bullish.

The Short Term Trend is also confirmed bearish after sticking its tongue out that way yesterday.
Neither of those two brearish trends are overly concerning just yet.
I fully expect the Long Term Trend to confirm bullish in approx a fortnight.

At the moment, I'm unconcerned about the downward slide (at the moment :)

But I am aware that the longest run of bullish Relative Strength in the SP since not only from Nov last year, but the longest in 5 years too, has dipped below the 50% mark and has entered the bearish half of the Relative Strength Index.
It's okay-ish - for the moment.

After the SP peaking at circa 146/7 back on the 7th January, the SP has had it's longest bearish slide since this bullish breakout commenced back near the end of the first week in November last year.

There are two previous breakout landmarks, that I am keen to see toppled for this bull run to continue - the first is completion of the SP staying north of the mighty 200 day trend line, which would then equal the second longest bull run in the last near-5 year descent and that, surprisingly, was the period around the general election.

Once that 3 month period is in the bag, and like Alf Ramsey telling the England world cup team back in 1966: "You've won it once now go out there and do it again". Which of course they did in extra time.

- And that's exactly the challenge awaiting all holders in BT, if you're asking yourself:
Is this breakout the real deal, or just like all the others that all failed?

And that is - you're 2 weeks away from matching the second longest bull run since 2016 meaning that will be a bullish 3 months completed!

So, now get out there and do it again (another 3 months) because the great bull run (the longest breakout ever, over the past 5 years) from May 2018 to November of that year - lasted 6 months!

Then, and only then, when this breakout has survived for a full 6 months, can you seriously begin to believe you're in with a chance for the championship win and the termination of this long, long, near-5 year bearish descent in the SP.

===========

BT currently -

200 day ma trend . . . . . . = (Gently 'lifting':) but not yet 'bullish')
Price to 200 day ma trend .= BULLISH
-
Ultra Long term trends . . . .= Bearish (Purposely designed to be insensitive).
Long term trends . . . . . . . . = Almost bullish; expect so by v early Feb.
Medium term trend . . . . . .= BULLISH
Intermediate trend . . . . . . = BULLISH
Short term trend . . . . . . . . = Bearish
Ultra-short term trend . . . = Bearish

(All IMO).

( Part 2, Concludes) . . .

. . . Net Profit, as in all previous updates does keep it's y-o-y cumulative increases, but this year they show no increase since the last update, despite showing an increase in this latest Q3 forecast update; ergo they intend hitting Q4 forecasts bearishly once Q3 is published and out of the way. They have £1.465b Net Profit for this full year (median+mean/2) but I am sticking with my personal belief that BT will come in with a minimum £1.5b+ meaning I'm expecting to see £400m+ in Q3 a week next Thursday - and not the paltry £300m+ the analysts show on this update.

I mean, BT has beat both Q1 & Q2 analyst forecasts - out of the park, and got nil reward in the market.

I'm quite prepared to be shown as way out of line to the analysts, but H1 showed how inaccurate they've been for this trading year, so my guesstimate is based on the actuals for Q1 and Q2 to be repeated.

Couple of things tonight, so maybe separate posts.
-------------------------------------------------------------

First, latest analysts consensus Q3 trading forecast update is out this very evening with today's date: 22nd Jan.

https://www.bt.com/bt-plc/assets/documents/investors/financial-reporting-and-news/latest-consensus/btgroup-consensus-22-jan-2021.pdf

- Also, the actual Q3 achieved, to be published by BT, is a bit later this year and will now be published on the 4th February, a week on from next Thursday morning.
Last 2 years it's been the end of January, but on this occasion, BT is taking the longest ever for Q3 publication of any of the past 5 years (Covid?)

- I've long had a suspicion that maybe the analysts involved get to see the consensus of all of them ahead of the market, and before you know it, the market is already heading in that consensus direction.
For instance, has the SP been drifting steadily downwards over the past several days or not?

Well you can have one guess only, as to which direction the consensus update has drifted since the last update.
So not optimistic of the downward drift in the SP to cease on Monday - if there was a positive in this update I'd say most definitely it would put an end to the drift on Monday, but there isn't, and in the absence of the market taking a lead from the consensus analysts latest thinking, the SP will have to sort itself out. (A bit about that in the next post).

In essence Q3 in isolation, they have Revenue & Net Profit showing tiny increases since the last update - BUT the full year Revenue they have down (by £9m) and Net Profit exactly the same as the last update - so what happened to the Q3 tiny increases under both headings? Clearly they've done the same again and are planning a nasty Q4 to eradicate the small increase in the Q3 top and bottom lines.

For the next 3 full years, Revenue goes on to disappoint (as now the Y-O-Y cumulative increases in the update before the last, was just a flash in the pan by them) as they now have year 2 (21/22) achieving less than this current year is forecast to come in with, and year 3 (22/23) as yo-yoing back up. So a V shape over 3 years. And all 3 years have been downgraded slightly to come in lower than their last update.

Not conducive to enabling the market to get enthusiastic like it did when for the first time they had the 3 years Revenue cumulatively increasing y-o-y and contributing to the bullish SP since the beginning of last November.

Net Profit, as in all previous updates ...

(Continues > > >)

" will flatline around this or bit lower, before results i think "

------------------------

- Despite what I've posted below, I'm fully expecting February to be a truly bumper month SP-wise, so really need that flatline to happen and thus give plenty of head room for the February SP to push on, to flower further.

(Won't be surprised if it leads to a third overbought condition, in relatively quick succession:)
The past several years have had Overbought Conditions around the February area, as SLP is no stranger to publishing positive trading updates - and achieving them.

Currently (mid afternoon) that's the SP now descended just a fractional smidgen out of overbought territory into the high bullish area of Relative Strength. Could do with a bit more.

But so far, so good.

So is fast removing concern No:1 of mine.
(Although not far enough out of overbought condition, or stayed long enough out of it, to recommence progress, as it did in early January).

Now that the SP is seeking out new lands to conquer in the triple digits arena, it's a case of recalibrating % movements but in larger pence strides. Looking at SP larger movements alone, can be misleading, as now less meaningful.

You may not have noticed the last descent out of overbought condition (the 7th/8th/9th of January).
Then, I was expecting the first overnight stop to be in the v high 80's, but instead the SP visited 87 intraday-only and didn't close the day on it
(virtually for minutes only :) and finished that day decently back up in the 90's. And then went back up re-entering into the current 2nd Overbought Condition that it now appears to want to leave more convincingly.
That's why back then-ish, I'd posted of my not taking much notice of SLP's Overboughts, because of the monstrous strength of the SP.

If there's more descent to come rather than just a slowing of progress, then I'd be on the outlook for high/mid 90's, but that's presupposing the SP is not going to make a move on my concern No:2, (Mean reversion to correct the 200 day disparity) I'm expecting similar to previous overbought occasions since Aug of last year to date - and that's not much ado to write home about in descending out of overbought conditions.

I've been trying to guesstimate when concern No:2 might trigger and have come up with either a natural reversion to the mean during spring of next year, or preferably a more sedate response by the SP from March to end of June for a more painless completion of that reversion to the mean, by the SP allowing the 200 day trend to catch up, the more painless way.

- The all-powerful 200 day average is mathematically (IMO) out of kilter with the SP.

Either the SP slows it's pace of advance or at some point, it gets pulled down by the Star Trek-like Black Hole vortex as it did on the last such occasion in July of last year - but at different prices of course. It will happen; I just prefer the more sedate approach of the SP for a more painless method.

(Check out how the SP for the last 5 or 6 years has mostly kept a decent distance from the major 200 day trend to the now huge [repeat HUGE] disparity of difference it's developed to currently.

I'm keen for the sedateness approach of the SP this spring to mid-summer rather than the pullback visit to the 200 day trend line as witnessed back in July last year.

(IMO)

After expecting to see circa v high 90's for Jan close I reappraised after seeing the v high 90's last Thurs, but delayed posting until earlier this week and a mid month update suggested that a Jan month end of 103/104 was now more likely.

Thing is, since last summer, the SP has outperformed all expectations of mine, leaving "averages" as dust in its rear view mirror.

Having now almost completed a year since first buying in to SLP, the triple figure benchmark of 100 appears to have been disposed of with ease. In fact the expectation of mid to high 120's for end of Feb, is now dust too, (IMO) should Jan close no less than 117.

Not 130's for end of Feb, but IF January does indeed close no less than 117 (currently 118's as I post) then my updated expectation, is now for 140's by end of Feb!

Doesn't seem possible that quickly, but bear in mind, every single average that I've touted as an expectation has been comprehensively outperfomed by the SP.

140's by end of Feb is nothing more than "averages" - so the only question is: will the SP continue to outperform every single expectation of mine as it has done since last summer?

Hi Stoodio,

Did want to post on Friday, but as the price closed on one of the points of my intended post (previously from v high 90's to now 103/104 by end of Jan) I'd be posting after the fact so left it, but that was a side issue as really wanted to concur with your forecast of 125 by close of February (In fact slightly higher now, IMO).

Firstly, all trends and all indicators, are monstrously bullish; and therein lies a concern which I'll circle back to by end of this post.

Wanted to re-evaluate mid month, as January has met and exceeded my most bullish expectations; ergo your 125 in a previous thread to this, is now on, and now is at least the 'minimum' expectation for Feb close:)

In fact mid month, signs are, that far from Jan/Feb being the 2nd best period to leaders July/Aug over the past 5 years, the latest expectations show Jan/Feb being on course to moving up to equal or better than the prime July/Aug period!

Can only conclude that as the average % SP increases in SLP are repeating their highest performances both in July&Aug and Jan&Feb, because besides bullish trading updates and results, there must be some macro event whereby SLP's customers hedge foreign exchange rates/and rising commodity prices, that coincide annually in those time frames of the year, or somesuch.

Further to thinking your 125 for FEB close is looking on the money - the latest for the next month - February, based on likely close by end of Jan - is suggesting to not be surprised by a February close of circa v high 120's. Dependent on the Jan close SP price, taking today's 109 as a base figure only as an example.

(111 as I type - but all depends on the month-end actual close, so 130's then if Jan closes in 111 area???)

All in all, since the summer of 2020, the SP performance right through to currently, has exceeded all the longer term averages.
So "averages" may never be seen, as actual performance is increasing the averages all the time.

Concern 1:
The SP is extremely Overbought at present. But as said in previous posts, hot stocks like SLP are proving to be the exception that proves the rule, and any pullback from overbought since summer of 2020 have been so small as to be barely noticeable - not the case in run of the mill, well established stocks, in general.

Concern 2:
Longer term, the now perpendicular rocket ship climb of the SP (since July 2020) gives me the heebie jeebies - but a more sedate performance, I believe, may be seen from March onwards (with June to be the bad-boy joker in the pack?)

Was expecting the consensus forecasts to be released this coming weekend, but seeing a mention of it on here, checked and it was out on the 8th January.

So it was out last weekend!

That surely means there'll be a final consensus sneaked in just days before the Q3 actual results are published by BT.

Here they are -
https://www.bt.com/bt-plc/assets/documents/investors/financial-reporting-and-news/latest-consensus/btgroup-consensus-8-jan-21.pdf

In summary, revenue is in a cull de sac for 3 years, going nowhere - according to the analysts. (ie., This year will be similar to year 3).
Dissapointing.

Net Profit:
However, they do continue to show cumulative increases y-o-y for Net Profit with year 3 virtually restoring last years net profit almost in full. Progress!

( Q3 net profit is 100% identical to the last update, so you'd expect the full year's net profit it to be identical to the last update too. But they're showing a slight increase in this year's full net profit against the previous forecast suggesting that the analysts see a decent recovery in their unpublished Q4 net profit which was disastrous last year. So removes concerns somewhat, of that infamous "shocking" Q4 of last year.

Again they go for £1.4b for Net Profit for the full year. Sticking to my guns and based on the past two quarters actual performance I'm expecting a minimum of £1.5b maybe even £1.6b. But first Q3 to get over, when BT publishes the actuals in a couple of weeks.

===========

BT currently -

200 day ma trend . . . . . . = Curling round to the upside; on trend to almost being be called "Bullish; rising".
Price to 200 day ma trend .= BULLISH
-
Ultra Long term trends . . . .= Bearish (deliberately takes ages to change trend).
Long term trends . . . . . . . . = Virtually bullish, probably by the end of this month to metamorphose into bullish.
Medium term trend . . . . . .= BULLISH
Intermediate trend . . . . . . = BULLISH
Short term trend . . . . . . . . = BULLISH
Ultra-short term trend . . . = BULLISH

(All IMO).