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Greggs: the awesome power of a vegan butty


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@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.

at quite a point here  - there was a lot of interest here earlier in the year

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It's moving up from and 'oversold' condition.  :D

Wonder if it has any further to fall.  The 200 day SMA is approaching.  Directional Movement?

147936789_GreggsPLC_20190819_11_11.thumb.png.f67d704c600f5e63928aa2f7834b8a2a.png

 

 

Edited by dmedin
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Maybe time to think about going long, perhaps on a future contract.

UBS upped its rating on shares of bakery chain Greggs to 'buy' from 'neutral' on Wednesday, lifting the price target to 2,300p from 1,880p as it pointed to "significant" growth opportunity.

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Let's see if we can get a couple hundred points off this long.  A pick-up in volume along with crossing above RSI >30 and price is above 10-day SMA.

Surely people will want their vegan sausage rolls even when all hell breaks loose in Euroland.

1827789454_GreggsPLC_20190830_09_48.thumb.png.7a856ad3fcdae67476cee0431a6b58a5.png

Edited by dmedin
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A lower high or just sideways action, my bonnie bairns?  🤔  I had my stop set just above the most recent high, but I panicked at the prospect of it going even higher and covered my short at a big loss.  :(

2019-09-06_19-40-28.thumb.jpg.5c717c698a1cc201f4753701924ce5fd.jpg

 

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  • 4 weeks later...
Just now, nit2wynit said:

Did you go Long on a Sausage roll? 😮

hahahaha I actually shorted it and chickened out last month, if I had held my nerve I would have made hundreds of quid.  🙈

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13 minutes ago, dmedin said:

The UBS upgrade and the subsequent jump in share price made me lose my nerve.  B'tards!

ha.  Well, it's Winter now..........Convenience eating and winter walks with a Pastie and a Peach Melba...When Brexit detroys the Pain au chocolate inmorts and Croissant, Greggs will become the staple for Middle Class Brekkie.  lol.

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  • 3 weeks later...
  • 2 weeks later...

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

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Greggs reported that total sales rose 12.4% for the six weeks to 9 November, and it now expects 2019 pre-tax profit to be above previous estimate

 

Maybe UBS was right, couple of months back?  Or could it turn out to be another good chance to go short on the vegan butty 🤣

GRG-Daily.thumb.png.fb26fef9b96bb4901d1919a0ae2ccf6f.png

Edited by dmedin
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