Read the latest interims.......just make sure that you are sitting down.

spread is currently pretty wide at 510/522 ...... at least i am now in the money, though was never significantly out of it ...... will need to check other data to see where PT and I reckon support may be

That will be because they want to test the 508p level in my opinion. Weakness across all markets naturally impacting.

will be interesting (to some!) to see if Alleyne now sticks his head above the parapet!

meanwhile, an easy to read 6 month chart below.
note that sp very recently hit the underside of 25 dma and fell back smartly, and has now pierced 50 dma without a breath and with some impetus ...... 200 dma remains some way south at 460 ...... that is my potential target to which i am not firmly glued

close of biz, or more likely, tomorrow's opening could give a better indication of where sp is heading, though my guess (wishful thinking) is south

Not sure if you can play around with your charts cynic, but if you can post the Fibonacci graph for this year, you will see that it has almost been a text book example since the beginning of the year. Graphs are not always accurate and it doesn't mean it will be for the future but they have proved a good tool here. 508p may yet hold, but personally my view is that it will not.

PT is much more sophisticated than I ..... the TA thread is well worth a look ..... you will find SOLA written up there several times, as well as others.

by the way, i have just shorted Cable at 20636 ......though 20700 was the target, i felt this was close enough.

ouch cynic, that's my business! think we'll see cable at 2.07 before very long, and I see 2.10.

Greyhound

Posted this on the TA thread 16 July, a different rationale for support at 510p ish. Funny old business this charting :))

pth

My original analysis of SOLA predicted the SP sliding along the middle downtrend line and intitally this is what happened. Friday gave me pause for thought as it appeared to have broken through rising resistance. However, today has seen the SP dip below this line once more, although not in a conclusive fashion. I was curious as to why the SP bounced at 510p and looking back it's pretty obvious, I should have drawn this SP support line from the outset (der). MACD conitunes to turn up ansd the RSI is now sitting on what was a res line but now may become support. For what it's worth the SP is now sitting on the 50MA which may provide additional support. I wouldn't go long or short on this chart today, but as a holder I would wait for further direction before making a decision. Not much help I know, but it's not always clearcut :S

pth

would not argue about 2.07 but suspect you are too pessimistic re $ falling to 2.10 ..... my guess is that UK rate rise is already factored in ..... though there are quite short odds on US rates being cut, that will not necessarily have an adverse effect, and may also already be factored in.

thanks pth, interesting reading.

hi PT ..... i think direction has already changed! ..... tomorrow may well prove the point

You may be right cynic, but fx markets always overrun, as long as you have your stoploss in place. 2.0530 the level to watch should we head lower. A break of 2.07 and there are few limits there, it will be fast.

Back to Sola, I tend to agree the direction is pressuring the downside.

Im repetitive Cynic, by golly gum drops just look at how many times you have posted here re TA (and today), or does that change by the day.

I have no axe to grind with you or anyone for that matter, just poping in to say solas getting a clobbering this afternoon.

Most stocks are getting a clobbering today GF :)
I wouldn't read too much into SOLA's drop today, miniscule volume. Strong support at 510p, I'm still sitting on the fence, will be getting splinters at this rate :S

pth

PTH not noticed the RNS from yesterday then I take it?.

Theres several ways at looking at the reasoning behind this.

A physical transfer of stock................................... but whats the real motive?.

I have my thoughts as its just before the AGM on thursday.

gf

Yes I did, and not really sure what impact their plans will have, talk of dilution, dual listing, will the directors start to offload? I would, retire as a millionaire, comfortably well off :) As you know, I was with Cynic in saying short from 530p. I'm just being honest now and saying I'm not sure which way it will go. More certaintity in other stocks at the moment.

pth

Even if directors do offload as it's British Virgin Is. incorporated, I don't think we'd know about it for quite a while anyway as there are not the obligations to advise as there are in other markets.

just before "silly time", spread has closed up to 509/514 ...... a fairly critical sort of level from memory

You don't need a long memory, yer daft sod, look at the posts above :))

Sat right on your 510p support line PTH.

Indeedy gf, will have to take a look at the chart jobbie after the close and see what sort of trendlines its fallen through again. From memory the shorter term uptrend has gone, but then it fell through that not long ago before recovering a bit.