Travis Perkins Share Discussion Threads

[smoketrader] 06/7/2003 09:41

I notice it showed strength again on Friday, although I would say it may in fact be backtesting a rising wedge, a pretty subjective interpretation though. It also looks to be forming the right shoulder of a h&s pattern on what could loosely be described as declining volume. Obviously it needs to break below 1160 for this to be confirmed.

For the last couple of months the trend looks to have been losing strength (declining ADX) and it\'s been rising on relatively low volume, highlighed by the acc/dis graph which is currently showing a bearish divergence. The same divergence can be seen on RSI and MACD.

The Bollingers may be cause for concern for anybody short since they appear to show volatility is now increasing, which could signal more upside to come.

A decisive break above 1200 could change the technical picture completely.

All IMHO

[smoketrader] 03/7/2003 23:57

Decision time soon for this stock. 1160 is support.

[toffeeman] 03/7/2003 14:43

Now marked up again - so I guess a close at 1180 with a gap down tomorrow would be a good signal - probably carry on up now and then we'll be calling double tops!!

cheers

[toffeeman] 03/7/2003 14:26

There she goes Smoke 1175.5 buying at 1180 is this the Right (or is it the left) shoulder forming.

Target 1130?

[smoketrader] 03/7/2003 14:05

Yes, and they make you place the stop so far away too. TPK will probably be in the FTSE 100 before it hits my stop :-)

[toffeeman] 03/7/2003 13:35

Hi Smoke

Think it could retest 1180 and even 1200 but yes 1160 looks pretty critical and I was going to wait for a close below - trouble is the buddy IG CR spread is so wide.... we shall see.

[8para] 26/6/2003 09:59

LONDON (AFX) - Shares in Hanson PLC, the FTSE 100 listed building materials
group, fell 6 pct as the company warned on trading, increased its asbestos and
pensions provisions and said it had made little dent in its debt mountain.
The news immediately sent analysts scurrying for their calculators and red
pens as they reassessed their full-year earnings calculations.
It also prompted Merrill Lynch to downgrade its stance on the stock to
'sell' from 'neutral'.
"The factors which are depressing trading, which include budget deficits
hitting public spending and office vacancies hitting commercial building, well,
neither of those things seem likely to improve the short to medium term,"
analyst Ken Rumph told AFX News.
"(On asbestos) I still think they are under provided. The fact they'd
understated the previous backlog of claims is a surprise as is the rise of the
cost of settling them."
At 9.55 am, shares were 345-1/2 pence, down 23.
Earlier Hanson said there are now 120,000 people who may take legal action
against it, up from 81,500 forecast at the year end, and as a result it is
bumping up its reserves.
The firm said it expected to book a "non-cash exceptional charge" of 320 mln
usd at the half year results, up from 215 mln, though that latter figure hadn't
be previously disclosed.
In the past Hanson has claimed to have enough cash and insurance cover to
see it up until 2010.
"On the micro-level, as it is impacting on Hanson real time, this is new and
worse news," said Teather & Greenwood analyst David Taylor.
ijl/kl

[toffeeman] 18/6/2003 14:43

Short control risk @ 1180 for Sep. stop has to be above the all time high for IG spread so we shall see!

[toffeeman] 15/6/2003 09:21

Point of info - I have traded it twice - one unsuccessfully and onece successfully. I watch it a lot though.

[nirvs] 13/6/2003 16:09

Toffeeman - I know you trade this share alot. I like this as a short, but agree that it needs to show a turn first. ie a fall thru the 20 sma. This almost always falls on macd divergence, and with a nice upthrust at the top.

We shall see....

[toffeeman] 13/6/2003 14:29

I'm watching but not shorting yet it could quite easily breach new highs before dropping MACD rsi and adx all look bullish to me.

[dondee] 13/6/2003 12:59

Double top (almost a triple top if the later 2002 one is counted). Approching a drop? Especially if interest rates go up later this year.

[flindian] 09/5/2003 07:58

Mulligatawny,
So what if the director needs some cash for his family. Doesn't mean a thing. Look at Saxby, chairman of ARM, sold millions of shares, and the price still went up.
The fact is this is a growing business in a growing industry, so there is plenty of room left for upside.

[mulligatawny] 08/5/2003 21:19

Short from a limit sell at 1154 today little if any upside left for a while..

Travis Perkins plc ("the Company") has been notified that Mr. C. M. Fisher, a
Non-Executive Director of the Company, yesterday sold 25,000 ordinary shares of
10p each in the Company beneficially owned by him at a price of 1140p per share.
In addition, the trustees of a settlement for the benefit of Mr. Fisher's minor
children sold a total of 30,000 ordinary shares of 10p each at a price of 1140p
per share. As a result of these dealings, Mr Fisher now has a beneficial
interest in 503,944 ordinary shares of 10p each in the Company, representing
0.44% of the issued share capital.

[toffeeman] 29/4/2003 13:08

It's bang on resistance - the down trend from last May through end October which also looks to coincide with horizontal resistance at 1100ish - if it breaks above I suggest it would be bullish - otoh it could be a great short-entry point. Chart indicators are not too clear to me - so I am watching and waiting - and either way I will wish I had acted sooner!

[harleymaxwell] 29/4/2003 10:02

any vies on this - all short talk seems to have been zapped by the rise

[benson] 04/4/2003 23:19

Short at 1042. Resistance at 1050, looks overbought.

[thedickster] 12/3/2003 08:16

Smoke, lol, i use CMC, so even with a poxy 500 quid pos, i'm down 150 when i open. Sounds like the same for you, this really does make me think about pos size! But short from Mon so looking good

[smoketrader] 12/3/2003 00:38

...that was the sound of me arguing.

Took a small short position, controlled risk spread is enough to make your eyes water!

[8para] 11/3/2003 23:09

some big guys running for the door today
this one is a no-brainer

[boram] 09/3/2003 14:06

Travis Perkins, Finals are out on Monday 10th.
Travis Perkins is expected to report a rise in profits for the year on Monday, in line with market expectations of between £140m and £146m. However, analysts are warning that its rapid growth through acquisitions is only a limited option, and new avenues will have to be explored soon.

[tricky] 06/3/2003 14:06

For those that follow him, EK is now short of TPK. (it must be said he is also short most of the market!)

[czb] 31/1/2003 19:40

TPK looking very bearish.

mickconn11 - we are moving to your target of 900p, but I think we might even test the 2001 lows of 800p.

[tricky] 28/1/2003 00:33

Breaking down imho, with plenty of meat on the bone for those with a fondness for shorts