Meggitt Share Discussion Threads

[lurgy] 11/9/2006 14:02

Isn't that the best news of all if it bounces off it's break-out level? The second chance that 'proves' our view first time round? .. well, I suppose it hasn't actually done it yet...

[ruffjp] 08/9/2006 14:17

cheers alan, now you tell me!

[jezboy1] 06/9/2006 17:01

may be a little bit more of a drop tomorrow - if the market decides
to carrying on giving itself a kicking...

but not much more, expect this to do well in the coming weeks -
so much so, that I am off on hols tomorrow, so will be checking
back in 2 weeks time :-)

bye bye!

[machoolahan] 06/9/2006 16:29

It's done the trick, alan - MMs back-pedalling in panic! The magic touch.... :)

Edit: 303.25 close - nice one.

[alan@bj] 06/9/2006 15:50

Pull back looks seriously overdone to me. Been following MGGT for 18 months. Just bought in at 299.75. A sure sign of a further drop! DYOR.

[jezboy1] 06/9/2006 11:28

ta mach - see u are back in too. :-)

Note that UBS (blinkin' swiss) - gave a 'neutral' broker's view
today (EVO was a positive BUY 350 target) - apparently on
the back of valuation grounds. But that was presumably on an
SP much higher than today!

Never listen to those swiss brokers.... and who
thinks a 5.5% drop is justified on the back of a 'neutral' comment anyway?

[machoolahan] 06/9/2006 11:08

Nice trading jezboy1!

[jezboy1] 06/9/2006 11:08

Sold out yesterday at 324 - back in today at 301.25

this is a fun share! Seems like a classic bear attack/profit taking
pattern to me - however, if it falls through 300, then maybe something
more serious.

But on the back of basic fundamentals - price seems reasonable to me.

Comments?

[machoolahan] 06/9/2006 10:55

Back in - 1794 @ 301.5p

[machoolahan] 06/9/2006 10:18

Hmm didn't quite see it dropping back to 300p-ish :S

Still, should be able to re-buy much cheaper than I thought - which is pure luck rather than any skill.

Any theories about the fall? Director cashing in his options a big factor do you think?

[churchtower] 05/9/2006 08:46

Good solid results. Happy to continue to hold for the longer term. The break above 324, if it is maintained, is encouraging. CH.

[danny murphy] 05/9/2006 07:57

Results are strong. The share price must surely fly in a few minutes!!!

[machoolahan] 04/9/2006 23:51

Hmm don't think you will be disappointed medium term, looks good for an uptrend over the next few months.

However, technicals-wise today looked like a bit of a shooting-star, not sure, but felt like it i.e. short term reversal due. Jumped out and bought AHT anyway (results tmw too) - no doubt this will prove totally wrong! Back shortly either way....

[danny murphy] 04/9/2006 16:38

320.5p Guess it all happens tomorrow then. I hope I'm not disappointed as I'm expecting a big push northwards with a sparkling set of interims.

[danny murphy] 01/9/2006 15:29

321p. with the interim results due on Tuesday and providing that they live up to their expectations then I do not see why the price would not be trading around the 350p mark during the middle of next week!!!

At that point I would anticipate that I would substantially reduce my holding.

[churchtower] 01/9/2006 15:22

machoolahan - on this occasion it is as simple as investors who watched the intraday high on 30/6/06 of 324 fall away, may now wish to take profits on this return to that area. I may be wrong as I have on many previous occasions but technically in the short term it is now looking a little overstretched. A break above 324 on heavy volume would be very bullish and could herald strong further upward movement. Regards CH.

[machoolahan] 01/9/2006 15:09

Interesting you think that churchtower, is it for the same reasons as I posted above (rising channel limit)?

[churchtower] 01/9/2006 15:00

Should encounter some resistance shortly but as I am in for the longer term would welcome some retracement or consolidation before moving on again.. CH.

[machoolahan] 01/9/2006 12:53

Interesting how different the lines are when you use inter-day "extrema" rather than intra-day. On my chart the falling line "causes" the resistance in late May, on yours the same line causes a resistance at the start of July!

On balance I tend to favour the intra-day case purely because it seems to work slighlty more often for me that way. In practice it's probably always worth drawing both and picking the "worst case" for safety!

[chrisg] 01/9/2006 09:12

Thanks so much for the instructions. That's the first time I've tried that!

Anyway, that is the triple support which turned into resistance. As you will see, its a basic line chart. I think I did say before that my charting was a little basic and rudimentary (or something like that)!! :-)

Cheers.

[machoolahan] 31/8/2006 21:18

Hi Chris, gone a wee bit beserk with the lines here, but here are some "thoughts"....



Can't quite see the trend line you were discussing though - have plotted a falling one that did act as resistance in one instance.

The rising channel suggests a period of consolidation for a few days, maybe until results day? Can't see the overhead resistance being terribly significant but plotted it anyway. After that it's blue sky really :)

All quite speculative I must add.

Chris not sure if this is only available to premium accounts, but if you go to Charts and choose "Live" Daily charts you can plot the lines, save the picture using the "camera" button and then find a paste-able link for your creation on the "Chart Grabber" link at the top.

O/T but also looking at a couple of other "triangulators" BFC and AHT. Given the way the last three months have panned out in the market there are probably hods more too.

[chrisg] 31/8/2006 17:32

Interesting that we seem to have overcome the potential resistance quite easily.

This is more interesting in that I wonder whether the resistance was actually rather stronger than portrayed in the post above.

I don't know how to post a chart, but using a standard line chart, it is possible to draw a support line through the three bottoms at end-March, mid-April and early May. That line then became a successful resistance at 320p at end-June. Extending that line became a further resistance point this last week at, fascinatingly, the same 309p as machoolahan's resistance point in his post above.

The fact that we appear to have so easily passed through such strong resistance must auger very well for the future.

FWIW, after my previous post, I did buy some more on Tuesday morning, and jolly pleased I did!

[machoolahan] 29/8/2006 13:56

Potential resistance line here which needs to be overcome....