Meggitt Share Discussion Threads

[danny murphy] 29/8/2006 13:53

309.5p. Like you said there is more to come!!!

[churchtower] 29/8/2006 12:24

This continuing break above 300, if maintained, should take us to 325/330 in the short term. CH.

[danny murphy] 29/8/2006 10:57

304p now. Just one week to the interims!!!

All looking good!!!

[bigbertie] 27/8/2006 06:14

I'm in too. Like the charts & headlines, but personally I don't like fundamentals on the thread, BBs should be hot news only - otherwise I waste time paging down to find one new post! Just my personal preference.

[chrisg] 26/8/2006 11:34

Macca - thanks for your welcome on the other thread.

You make a comment about brown-trousers investments. Got a few AIM bits myself, but also a core portfolio of sleep-well-at-night investments. This is part of the core portfolio. Might even add a few more on Tuesday. The circumstances here remind me of SCTN, when I got in at 379p nearly two years ago on a combination of fundamentals and an extremely atttractive chart and the share never looked back.

:-)

[machoolahan] 25/8/2006 20:55

BTW I'm tempted to start a new thread unless NKSharpe is still with us, get a chart and news etc up. Fancy?

Edit - damn it, thought I'd do it anyway. Please join me!



If anyone has some "fundamentals" related commentary to post as part of the header I'll gladly paste it up. Mind you, I rather like its Zen-ness at the moment.

[machoolahan] 25/8/2006 20:42

Arggh! churchtower, release the dogs!

Hi Chris glad you are in this with us. I'm a fairly amateur chart-bod myself, but this one looks like a classic downtrend breakout - after bouncing off a very well-defined, multi-year uptrend line around 280p.

Seems very liquid and slow moving - I am used to the more brown-trousers-end of the AIM market which is quite the opposite! It all feels quite chilled at the mo. Not sure on a price target at the moment - will let it run for the time being and see if any interesting kinks and bends appear in the chart for clues (Questor had a buy rec. on it around 360p though, which is encouraging).

Best of luck,

Macca

[chrisg] 25/8/2006 19:49

Good evening!

I hope you don't think of me as the great unwashed, even if I am new on this thread. Been doing a bit of homework on MGGT since the FATS announcement, and liked what I saw, especially with the chart as it is, although I'll admit to being a very amateurish chartist. Fortunately, I got in before today's rise, so its a good start. (Wish all my investments performed like this on the first day!)

Looking forward to the interims.

[danny murphy] 25/8/2006 13:39

With interims due on 5 Sept all looks good now!!!

[machoolahan] 25/8/2006 13:28

Yep - through 300p. L2 offer side is looking quite compressed at the moment - wonder if a jump of a few p at once is on the cards shortly.

[churchtower] 25/8/2006 12:16

Breakout very close now. Chart looking increasingly strong. CH.

[churchtower] 25/8/2006 11:00

machoolahan - Not sure whether any Telegraph reader would wish to be regarded as the 'great unwashed' but I do agree that many of the threads here are inhabited by those worthy of that description. I think we are fairly safe here with Meggitt. As regards John J Murphy, I have not read his book but shall look for it and see if it would help. I have five books I tend to rely on - Charters on Charting by David Charters ISBN 0-948035- 21- 8, Guide to Charting by Alistair Blair ISBN 0-273-62520-9, Technical Analysis from A to Z by Steven Achelis ISBN 1-55738-816-4, The Handbook of Technical Analysis by Darrell Jobman ISBN 1-55738-597-1 and Candlestick Charting Explained by Gregory Morris ISBN 1-55738-891-1. I hasten to add that I do not consider myself a chartist but merely use technical analysis to improve my selection of buying/selling points. Not always successfully. Regards CH.

[machoolahan] 25/8/2006 09:35

Good vote of confidence!



Wonder if it'll liven up the thread a bit? Or do we really want the great unwashed arriving do you think, churchtower? :)

Re charting above - I'm reading John J. Murphy's book at the moment, very very good intro for an amateur like me - have you encountered it?

[churchtower] 25/8/2006 07:53

Daily Telegraph Questor column recommends Meggitt as a buy today. CH.

[churchtower] 24/8/2006 16:15

macho - also in this one. Agree entirely, I always use candlestick charting and have found that intraday high and lows give a much better picture than using lines or bars. 300 is I believe the level to break and then we should see further upward movement. Regards CH.

[machoolahan] 24/8/2006 14:02

Quiet old thread, this one. Was surprised the share price was so static this morning, given a quite significant bit of news - in the end have decided its a mix of positive reaction vs. the downward pressure of being near trend line.

Finally seems to be moving up a tad this avo. Anyone else in these?

[machoolahan] 24/8/2006 09:34

Hi Danny - intra day means where the price has got to during the day, and as a result shows a slightly more "extreme" range than the usual charts you see attached to threads here, which are based on closing mid-prices between days(i.e. inter). Intra is the "spindly" bit on candlesticks if you like.

I've found largely by trial and error that trend lines are best plotted using the intras - seems slightly more predictive.

[danny murphy] 24/8/2006 07:44

Can you explain what the difference is between intra and inter day basis ?

[danny murphy] 24/8/2006 07:42

Presumably with this acquisition the share price should break the 300p barrier today.

[machoolahan] 23/8/2006 15:43

Topped up @ 297p - out of the triangulation now, either viewed on an intra- (black) or inter- (blue) day basis.



Here's hoping for a nice rise.

[machoolahan] 23/8/2006 14:40

Hmmm, what do we reckon, 6 days later....

[machoolahan] 17/8/2006 19:17

Yes I would say it is, within the bounds of error of the method. Churchtower has it bang-on above IMO.

[lng] 17/8/2006 11:35

Is this still within the triangular formation?

[churchtower] 17/8/2006 09:22

Machhoolahan - Thanks for the chart. In my view it needs to break up through 300, which is today the value of the established downward resistance line, on strong volume, to end this downtrend which commenced on 7/3/06. This downward resistance line was tested on 11/5/06 and again on 29/6/06. We have however a triple bottom and this gives a strong base from which to challenge this resistance. I also fully agree that the long term support line will win the day. Regards CH.