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Greggs: the awesome power of a vegan butty

dmedin

By dmedin,
in Shares and ETFs

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phillo Respected Contributor

phillo

Posted
Posted
On ‎05‎/‎11‎/‎2019 at 09:31, elle said:

there was a lot of interest in this one between Mid Feb & Mid May, those holders must still be there, so they may take some shaking out. 1700 must hold for them. I think they'll hold on for a while, unless there's some sort of market shock

 

Capture grg.PNG

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phillo
phillo
Nelsy-Boy
Nelsy-Boy

@dmedin I know this is too late as the market is now closed but looking at your RSI indicator, this afternoon did look like a good time to short ready for next week.

dmedin
dmedin

So, how far will Greggs drop?

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CharlotteIG Respected Contributor

CharlotteIG

Posted
Posted
3 hours ago, dmedin said:

Nice chart from IG ...

504072448_GreggsPLC_20191111_10_51.thumb.png.60d0e96f5b4cbaf2a2100f249d8d1e7f.png

Hey @dmedin,

Is that on the cash or forward chart for Greggs? I've tried to replicate the same layout on my phone and desktop but it's not showing that issue you're having. If it's on your desktop as part of your layout, can you remove the chart then re-add it and see if it's still not working. 

Let me know

 

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dmedin Super Contributor

dmedin

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Posted (edited)

The entire FTSE 250 is boosted by a stronger pound, so I doubt the wisdom of picking out individual stocks (a rising tide lifts all boats).  Then again it's cheaper to get leverage on Greggs than the entire FTSE 250 index.  But yes, buy and hold.  Only way to avoid these horrible 'sudden swings'.  Or buy call options, if you can.

Edited by dmedin
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dmedin Super Contributor

dmedin

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Apropos of which, I must stop in by a Greggs at some point and try one of these.  I wonder if meat substitutes have any of the good things about meat (protein, vitamins and other essential minerals)?  If not, then what's the point - except for the purposes of virtue-signalling? 🤨

https://uk.reuters.com/article/uk-greggs-vegan/greggs-follows-vegan-sausage-roll-success-with-meatless-steak-bake-idUKKBN1Z10QX

 

The spread on Greggs is still really big (16 seems to be the minimum, so if you want to SB on Greggs you pay IG £16 for the privilege - you pay less in commission if you just buy the shares outright) and it costs too much to bet on the FTSE 250.  It ain't great :(

 

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dmedin Super Contributor

dmedin

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I'm very undecided when I look at charts for shares.  It seems like the only way to trade is to put in a nice big stop (usually beneath large/gapping up green candles) and leave it to run it course (future-dated contract).  I can't see any other sensible way of doing it, considering short-term gaps and in this case the astronomical spread.  Even then it might just be better to buy some of the shares for real, where they are relatively cheap.

greggs.thumb.png.bff6d57a82c3861a4f15045ba34acf41.png

 

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dmedin Super Contributor

dmedin

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Will it fall back to one of these (possible incorrect because I drew them) support levels and present a good opportunity to buy back in? 🤔🥩  2120 would be ideal as you can see there was heavy buying up to that level, so it will probably hold up at that point.

1312749333_GreggsPLC_20200121_17_05.thumb.png.55446b2b5ba673af0006da990ccc9c35.png

Edited by dmedin
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