RE: Is an average of £2.85 too high and worth averaging down at these levels?18 Sep 2020 07:07
Hello Lodan,
You are right in saying that one ought to stick to your convictions with trading. I got in at 2.80 with similar sentiments to yours, however looking at the latest developments, particularly the northern lock downs, increasing case loads, demand for jet fuel, an apprehension for people to go out, I think the near term outlook is gloomy. Market is often driven by sentiment and the sentiment will take a while to pick up (Brexit, Trump & Vaccine).
The fundamentals have not changed as you said, but I feel that there is a case to come out now, and get in closer to a trend shaping period, which I think is November.