Jump to content

Greggs: the awesome power of a vegan butty


Recommended Posts

  • Replies 118
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

@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

Posted Images

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
Link to post

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.

Link to post

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
Link to post

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

 

Link to post
  • 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.  🙈

Link to post
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.

  • Like 1
Link to post
  • 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

  • Like 1
Link to post
Quote

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
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
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.


  • General Statistics

    • Total Topics
      15,406
    • Total Posts
      73,923
    • Total Members
      62,313
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    stefskis
    Joined 15/06/21 18:36
  • Posts

    • You need to get hung up on them, because they happen - I know for a fact that during 2007-09 bear market you could have traded long and made money, because I did it, but the easiest route was shorting and down Get a chart WEEKLY of any forex market or commodity - go back as far as poss and notice the big turns/swings - much more volatile than the SP500 - there's a reason for that  I always say anyone who's making a packet from trading or Investing on SP500 etc go have a crack at the forex or commodity markets - the stock markets natural direction is UPWARDS - especially buy and holders, fund managers would get ripped apart on the forex + comm markets OK - Its totally Impossible to know EXACTLY what the SP500 is going to do on a daily/weekly basis, but it WAS possible to know that a) 2007-09 was going to be a bear market before 2007 even arrived and b) that the market would stop around the level it did.  But this is ultra advanced and very few people are bothered about it I've written a thread on Time Cycles on here - it covers what the SP500 is doing in terms of TIME - if you understand it and think about it, it will put you ahead of 99.99999% of traders out there, because these really big corrections and crashes do not happen out of the blue - they are predictable and forecastable with high reliability years in advance  Look at the chart below - think about what I'm saying: In 1909 WD Gann said that markets always seek their gravity centre, the half way point - that's the 50% level to you and I Traders go on about fib levels - the 50% level is clearly much more important a level  What if you KNEW 1974, 2003 and 2009 should be low points? What an opportunity both long and short! This is why I researched and spent hundreds of hours on Time and Time Cycles for - I missed 2000-2009 because I didn't know what I know now, but I know when the next ones are and I have no plans of missing them These are key once in a lifetime turn points that don't happen often So what I'm trying to point out is that on the stock market the big plunges like 07-09 aren't the norm, but they do happen with very regular intervals, that will catch a lot of people out during certain cycles that the market moves through. with regards to identifying bear markets - yes using a MA to say price below this level is bearish, but it's already bearish as it approaches the level if using price formations such as lower lows etc You don't need to know what I've discovered about time to be able to trade successfully - I was just intrigued if it was possible to be able to time the really big turns etc as I'd prefer to to know if it was    
    • These are relatively rare events but I do find myself getting hung up on them. 
    • If we take the 2008 decline on the US500, I've attached a daily chart of this. You'd be better off shorting but of course you don't know that it's going to be an ongoing decline and the risk potentially is that you switch to a short preference and then the market does revert back to an upward trend. The market stayed below the 100 day MA for an extended time so maybe that's an indication of which way to trade but I know it's not always reliable. Probably also helps if you use a trailing stop at least to minimise damage.
×
×
  • Create New...