Jump to content
Sign in to follow this  

Greggs: the awesome power of a vegan butty

Recommended Posts

Apparently this is all driven by sales of a vegetarian sandwich.

1216998094_GreggsPLC_20190712_14_06.thumb.png.e7760acbccd24c93e473e05b1887e1b9.png

Share this post


Link to post

Will be a good opportunity to short at some point.  :D

 

Share this post


Link to post
Posted (edited)

16 point spread on the IG platform.

Must be one of those 'too good to miss' BUYS.  The only way is up!  (Till the next flash crash stops you out and takes your money before carrying on ...)

2802 is the 161% target and might be worth a shot with a stop beneath the 100% level (2400) :)

Edited by dmedin

Share this post


Link to post
Posted (edited)

Could be the beginning of a good short brewing if we get a daily close beneath 2402.  Going to have to redraw the Fibonacci so that it 'snaps' with the high at around 2500.

1138201886_GreggsPLC_20190718_10_46.thumb.png.579ada28d0a04c0b8fcd70adb7534b80.png

Edited by dmedin

Share this post


Link to post

A nice little 33 - 50% correction would be awesome, if 2495 is not broken in the next few days 😎

1758707193_GreggsPLC_20190718_10_52.thumb.png.06633b5894c823b7494921125b77ec80.png

Share this post


Link to post

We are girding up our loins to fight the goodly fight for a second attempt at 2500 and if we fail, could be a good time for a short with a stop just above 2500! 😺

898180610_GreggsPLC_20190719_09_14.thumb.png.75a437da2bdcb2356643a49a2e30ea0c.png

Share this post


Link to post

@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.

  • Thought provoking 1

Share this post


Link to post
Posted (edited)
On 19/07/2019 at 17:42, Nelsy-Boy said:

@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.

 

It has been said that one should only use overbought readings in an uptrend as an excuse to liquidate existing long positions (take profit), not to initiate new shorts.  However ... it's also been said that big long bull markets are often followed by a 33 - 50% correction and I think Greggs is done for one of those.

Edited by dmedin

Share this post


Link to post
48 minutes ago, dmedin said:

So, how far will Greggs drop?

1089319926_GreggsPLC_20190723_09_21.thumb.png.7d4b037f2b87601d69b3202ae66d0dca.png

Looks like the bulls are trying get a bounce up off the recent low after the gap down around 2416 which is a 50% retracement from that last impulse move, though by the last white volume candle they are having to fight for it.

696432498_GreggsPLC_20190723_10_14.thumb.png.6f4e36a92f662a78800c3b6507d4402c.png

 

  • Great! 1

Share this post


Link to post

I seem to have been fortunate and caught a wave down.  There isn't much volume so it could gap up, so I've a stop near 2500.  Even a shallow retracement (23.8%) will give a REALLY nice R:R payoff.

GRG-Weekly.thumb.png.f1b66ad3234baf8f0b1216972dc897b2.png

GRG-Daily.thumb.png.e17308023ef0092cf5f1ca6b03d51273.png

 

Share this post


Link to post
45 minutes ago, dmedin said:

I seem to have been fortunate and caught a wave down.  There isn't much volume so it could gap up, so I've a stop near 2500.  Even a shallow retracement (23.8%) will give a REALLY nice R:R payoff.

@dmedin

Here's my H1 if it helps. 👿

 

GRG-1-hour.png

  • Great! 1

Share this post


Link to post

Crikey, Greggs reports earnings next week.  Seems like just yesterday when it last reported its earnings.  I still think it's on a wave down but I should probably get out asap until after the earnings are reported. 

 

GRG-4-hours.png

Share this post


Link to post

I had to close out at a small loss, can't bear the thought of keeping a position open when earnings is released.  But hopefully it will be clear which way to go at about 9am tomorrow 🤓

Share this post


Link to post

Company reports good earnings, share price drops precipitously.  :D

Share this post


Link to post
6 minutes ago, dmedin said:

Company reports good earnings, share price drops precipitously.  :D

but were they as good as expectations? it''s expectations that get price into the market and if the data disappoints bets come off. 

  • Like 1

Share this post


Link to post

Looking at the daily chart since the beginning of July, the market started to pave the way for a drop. Quite a bit of divergence in both the RSI and Stochastic. Does anyone think the gap up in May is likely to be filled in the coming months?

Greggs PLC_20190730_20.08.png

  • Like 1

Share this post


Link to post

How low can the yummy non-bacon buttie go, Jo?

Share this post


Link to post

Will it pull back to the 200-day SMA (40 week)?

GRG-Weekly.thumb.png.4a674ea47efa7df1d7a7b6e6d08b8a19.png

Share this post


Link to post
Posted (edited)

Still got a bit further to drop, until it realizes its 'fundamental value'?  Notice my extremely poor timing here.

572778122_GreggsPLC_20190805_09_12.thumb.png.e4407fc2edd8e60f358fabd2b290571f.png

Edited by dmedin

Share this post


Link to post

I wonder how much further it has to fall.  The spread is still unusually (?) large (buy is 14 points more than sell)

1680671197_GreggsPLC_20190806_15_06.thumb.png.17dd5100246a221134bd90f77be02d10.png

Share this post


Link to post
Posted (edited)

I remain hopeful that it will fall further in order to 'converge' with its 200 day SMA (regression to the mean?)  At that point we will think about going long and holding 😺

 

Again my timing is pretty bad!

Greggs PLC_20190808_10.01.png

Edited by dmedin

Share this post


Link to post

@dmedin don't forget the gap on the daily chart around 1804. Looks like their is a good chance it will reach that. Least I hope it does.

  • Like 1

Share this post


Link to post

It's still snaking its way down.  When it bounces off (rather than breaking through) the short-term MAs then I feel better about being short; the 'proper' daily MAs still suggest it's coming down.

1198591314_GreggsPLC_20190809_12_22.thumb.png.bece7a3d54140bc89cd2f8ae9f65e8f9.png

 

The daily MAs also look like the price will fall a bit more - 10 is sharply negative and 50 is flattening out.  There is a wide gap between 50 and 200.

Also: the bid/offer spread is still enormous.

1502964462_GreggsPLC_20190809_12_23.thumb.png.1dc420aac4855bda553c2ef4bfd0ee15.png

Share this post


Link to post
41 minutes ago, dmedin said:

I think the drop could be coming to an end ...

1118883424_GreggsPLC_20190815_10_23.thumb.png.657be922df03cdcfda6125753c36b971.png

For a daily chart choose a higher level pivot, the monthly here is quite interesting.

1099366371_GreggsPLC_20190815_11_05.thumb.png.ade7ae70d1a5c3fe15912ae123c04ced.png

 

  • Like 1

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,444
    • Total Posts
      37,896
    • Total Members
      47,882
    Newest Member
    AnnaZ
    Joined 22/09/19 04:43
  • Posts

    • How do I switch my account from CFD trading to share trading?
    • That USDJPY turn looks to be confirmed with a break of a potential ending channel in confluence with the Fib 50% and failed retest of the previous Pennant formation.  A solid bearish move on the last two daily candles of the week in line with a late stocks drop is boding well for a sustained medium term bearish phase for this pair.  This may be at odds with other pairs for a few days or so but I expect USD to turn bearish sometime next week, in which case I see this pair dropping hard, which would be in line with the EWT set up of a wave 3 down.  A continued period of stocks weakness would add to the momentum on this pair.
    • Looks like we are getting that relief rallyvon Gold and Silver, which is in line with my A-B-C retrace bearish move road map.  If this continues according to the road map then the current rally is a wave B.  When it concludes there will be a strong wave C down and this is the point to Short if the mood take you.  This is coinciding with both a short term rally on USD (DX) and a late bearish move on stock indices on Friday.  I expect the bearish stocks move to continue for a bit, especially on non US large caps to complete their wave Bs.  We may see a correlation conclusion of these wave Bs between stocks and precious metals.  I also think USD DX will rally a bit further, with GBPUSD in particular putting in a strongish bear move in a 1-2 retrace.  All the main USD pairs except with the Yen are likely to be bearish vs USD.  
×
×