Phoenix Share Discussion Threads

[bluemango] 21/5/2020 15:01

It's true that the pennant developed after a downturn. So the normal prediction would be breakout continuing that trend. But ...

1. We're looking at an 8% yield here, where all around dividends are being suspended or cut. Either the company and others have got it surprisingly wrong on the sustainability of their cash generation, or PHNX is looking remarkably undervalued - and a rarity in the current economic climate; a reliable dividend payer.
2. The dramatic fall was because it got caught up in the general market slide rather than anything company specific.
3. The narrowing price oscillations do demonstrate a market tussle between bears and bulls which will probably be resolved in a new trend.

[cassini] 21/5/2020 14:36

It comes down to that line from Dirty Harry then - do you feel lucky?

PRU had a lop-sided pennant that was biased upwards. It broke out upwards but the move wasn't spectacular and it has oscillated around in a range after that.

The TA function in Interactive Investor has noted the triangle and on the 13th of May it called it a bearish sign because (a) triangles are 'continuation patterns' (that is, the price dropped to get to the triangle pattern so the breakout from the triangle will be down too) and (b) on the 13th the price broke out below the triangle the software had pencilled in. Of course it didn't really drop after that - presumably the software will draw in new triangle boundaries at some point to take that into account. Oh, it also said triangles are associated with declining volume (tick) and on breakout with increased volume (tbd).

[thamestrader] 21/5/2020 13:41

Pennant-wise, it's make your mind up time, isn't it?
It can't get any narrower.

Not a chartist - asking for a friend. LOL.

[bluemango] 21/5/2020 13:17

I promise to stop going on about pennants soon. But amusingly, a glance at the header shows even the intraday chart is currently following the pennant theme ...

[bluemango] 21/5/2020 11:51

Indeed. Just need to exhaust the current pesky seller.

Then I do think for various factors, this has the potential to take off quite sharply. Unless the company (and others) have completely misjudged the business resilience and assuredness of cash generation.

[bluemango] 21/5/2020 10:36

A key section in 7th May RNS was this:

"-- We have not accessed any government support schemes and our employees are all receiving full pay with none furloughed"

So, unusually in the sector, there will be no moral obligation to suspend dividends now or in the future which for other businesses will have been indirectly funded via Govt scheme.

[bluemango] 20/5/2020 17:23

free stock charts from uk.advfn.com

[aleman] 20/5/2020 16:13

Poorer hospital care? Worse food? (I find good quality meat and fish more expensive and harder to find.) Older people using tech more/exercising less?

[spcecks] 20/5/2020 11:20

Also happy to reinvest the dividend.

[panshanger1] 20/5/2020 10:28

Happy to reinvest dividend at these levels

[bluemango] 20/5/2020 10:13

A real bear/bull tussle.

See those oscillations on the three month chart getting ever tighter, smaller in magnitude.

[bluemango] 19/5/2020 20:02

Too tempting with chart and safe looking 7.91% yield - sold 11k worth of Astrazeneca today and put proceeds here into Phoenix.

AZN has had a very good run but now looking toppy and yield had dropped to 2.43% with the share price rise.

[bluemango] 19/5/2020 10:38

Interesting pennant you can see in 6 month/1/2year charts. (See header). Given all the circumstances, safe dividend etc, would expect resulting breakout to be upwards.

[williamcooper104] 18/5/2020 17:27

But won't cry if we get to £8

[williamcooper104] 18/5/2020 17:27

More than happy to keep the current share price and yield for reinvestment :)

[netcurtains] 18/5/2020 17:26

Its a long way back to 800p but we're on the right road!

[rik shaw] 18/5/2020 10:50

The difference of opinions reported in the Times relating to LGEN was with UK Shareholders Association not the FCA.

[panshanger1] 18/5/2020 10:34

On LGEN board

[edmundshaw] 18/5/2020 09:55

There was a spat over the weekend? Do you have a link?

[panshanger1] 18/5/2020 08:44

Dividend paid tomorrow Interesting to see spat between LGEN and FCA over the payment of their dividend carried on over the weekend LGEN sticking to their guns

[actybod] 16/5/2020 21:42

Thanks for link.

[lauders] 16/5/2020 04:04

Great to know rik shaw. Thanks. Also nice to see the two presentations on the company's website here:

The "cash, resilience, growth" one reiterates the long term plan to pay dividends as a key goal. Slides 3, 5, 10 and 18 make this point clear.

[rik shaw] 15/5/2020 13:02

Dividend approved today at AGM, payable 19/5.

[williamcooper104] 14/5/2020 16:11

A very respectable mild drop on the day relative to other financials