Sabmiller Share Discussion Threads

[skirbell] 19/12/2002 11:09

I'm short on this one. The graph looks bearish to me with a penant formation fairly clear to see. Volume has gradually been declining which would confirm the penant. If support in the 420 to 430 area is breached, I'd expect the price to fall to around 340.

Looking at the 2 year chart, there is a possibility that there is a large head and shoulders forming with the neckline at 420, head at 590 and the shoulders around 490. If this is confirmed, and I'm going to stick my neck out here, we could see an eventual fall to 250.

Stu.

[dmhzx] 19/12/2002 10:00

I suspect it's just had the price raised by MMs who have seen it heavily tipped in one of the tip sheets.
The tip sheet seems very confident, but don't they always.
One of them tipped Ingenta at £1.35 in August, and is still making buy recommendations today at 8p. (having lost over 90% in 4 months)

[johndee] 18/12/2002 10:47

Its rising today. £5 soon maybe. Is it worth buying?

[lady mary hinge] 30/6/2001 00:49

Too early to call IMHO. Trend looks up doesn't it now ??

[teeps] 30/6/2001 00:47

Is anyone interested in commenting on this?

[teeps] 29/6/2001 16:43

JT thanks for that. Subject to what happens in the auction period I thik this share will be going very south next week for reasons above. Chart is looking good for a short given the confirmed bear engulfing candle on the weekly chart. Target is 480p which would complete a double top pattern.

Good luck to those who are short.

[jamietrade] 29/6/2001 15:00

Dresdner Kleinwort Wasserstein downgraded the stock to 'hold' from 'add' today

[teeps] 29/6/2001 13:56

SAB ow under attack from the bears

[teeps] 29/6/2001 13:14

LMH - looking at the weekly candles chart, a close today below 545-546p would complete a bear engulfing candle. Given it's location in the chart this would be a strong sell signal and a possible reversal indicator.

The double top is merely icing on the cake but the chart and indicators (trending south) would suggest that a visit to the 480p support level is more likely than going up given 2 failures to peirce the 570p resistance barrier.

IMHO and thanks again for posting the charts.

[teeps] 28/6/2001 13:56

Looking at the SAB chart, weekly basis (candles) it appears an engulfing bear is forming this week so long as the stock remains below 5.46 ish. This suggests further downside next week but could be the beginning of a major down leg. Why?

Looking back thru' the year it appears that the second peak of a double top could have formed at the 570p level (2-3 weeks ago) with the valley being around 480p. If the 480p level were to be breached then there could be some significant downside.

Would appreciate comments on this, especially from Bird if around, as to whether this stock would fullfil the requirements of a bear club short i.e. potential for 50% downside etc even though the pattern hasn't formed yet. I guess we are all aware of the dangers of calling a pattern before the sell signal is sent.

Thoughts welcome and anyone who knows how to post charts would be appreciated to facilitate discussion.