Hi all,

I'm new to this and invest mainly on the fundamentals of a company. I am slowly learning some of the charting side (still a bit sceptical) and would appreciate any views on Skyepharma, a share I have a fairly large holding in, from a chartist perspective

No strong feeling at the moment - if they fill that gapdown from late Sept, especially by gapping up, then positive. If they don't, and if they turn down again, I'd regard that as negative, going on very negative.

If they break 64p, I'd expect them to test mid-50s, and if that goes...?

Sorry to appear slightly ignorant, but on the gapping up, do you mean that you think it needs to breach the 74p mark again for a longer term rise?

On 28th September, they "gapped down" from 70ish the previous day, to 65p - that completed an "island reversal" (a "gap up" to 72p on the 3rd of September, through to the gap down that left an "island" of candles above the previous and following set of candles).

Filling gaps generally indicates that the trend will continue in that direction - jummping gaps even more so. At the moment, the last two days of SKP's price action have pretty nearly closed that gap down - looks pretty bullish at the moment, and if it can get over/stay over 70p, then even more so.

Thanks for that, its nice to have some chartist backing to my fundamental analysis

Another very positive day, the shares are now higher than when they announced year end profit at risk. There appears to be very little news driving the price rise, though it is quite consistent - anyone know anything I don't?

Market makers keeping a tight lid on this one and walking it down slowly....

Can only think they get more money this way as more trades made than if it was just let to run to the mid fifties and stop awaiting more news....

Must be worth more over next few days but any big moves prob due to news not mms.....

more buys than sells and rush of buying makes little diff so being manipulated...

hope no one got shaken out by the market makers this morning as sell prices were very low ie 47p roughly....they want your shares cheap so they can sell them on..

hope no one got shaken out by the market makers this morning as sell prices were very low ie 47p roughly....they want your shares cheap so they can sell them on..

Hey, Ian are you the only person on this board? Your posts are the first in two years? Fortunately, I wasn't up in time to get shaken out.

Reason for no posts is another thread has been used recently.

Having been in and out of SKP over the years it is a regular occurence for the stock to open up with a huge spread and you often see a trade go through at a very low level - stopped using automated stops on it for that reason

as sell price is upped (even though no buyers) more sellers emerge and when they dry up at a given price it is upped again!!! patten over last 2 days indicating that someone wants your shares badly at this price.... That means they are almost certainly cheap at moment...think before you SELL!

as sell price is upped (even though no buyers) more sellers emerge and when they dry up at a given price it is upped again!!! patten over last 2 days indicating that someone wants your shares badly at this price.... That means they are almost certainly cheap at moment...think before you SELL!

Thats me out at 58p as i had two extended settlement positions and unless a larger company or bid war comes along a fair target would be about 60p..Had it been a cash position Imight have held a bit longer.....Best of luck to those still holding

any idea if the move relates to the recent takeover approach?

Peeyam

yes it relates to press rumour regarding the possible takeover

The Times

November 23, 2005

SkyePharma surges on rumours of bidder sounding out support
By Nick Hasell
Small caps



SKYEPHARMA found its best level since admitting to a bid approach last week amid rumours that a private equity bidder has sounded out institutional support for a possible takeover.
After a rise in its shares, the mid-cap drug delivery specialist said last week that it was conducting a strategic review after an unsolicited bid approach. Although the unnamed suitor has been touted in some circles as a rival UK drugs group, yesterdays murmur was that the predator is a financial buyer that this week has been soliciting support from institutions, which recently backed the companys 35 million rights issue at 30p. SkyePharma put on 2p at 53 p, with the FTSE 250 up 16.6 points at 8,245.8.

Takeover speculation boosted several mid-cap stocks, with drug firm SkyePharma (skp.l: Quote, Profile, Research) in the lead with a near-8 percent gain to 58 pence after the Telegraph newspaper said Swiss drug group Novartis (NOVN.VX: Quote, Profile, Research) was behind the recent takeover approach and may pay 70p a share.

23/11/2005 08:18 DJ MARKET TALK: Market Skeptical On SkyePharma,Novartis Talk

0818 GMT [Dow Jones] SkyePharma (SKP.L) +7.5% at 57.5p on speculation Novartis
(NOVN.VX) may consider a bid, according to traders. "I would be quite surprised," says one analyst. "Firstly, there is very little overlap from a development perspective, and secondly, it doesn't make much sense from a drug delivery perspective as there would be conflicts of interest." Novartis declines to comment.

MMs picked up a lot of shares in low 50's for someone at agreed price or themselves in which case they can now sell them at 58p so they have made money whatever the outcome... If bid doesnt come then worth nearer 50p for now... otherwise 60p or so poss on cards and pure speculation of major bids puts it nearer 70p. Take your choice but news must be coming in next week or so I guess.

Well Done Ian! The flag pattern proved correct. I guess that the chart showed yesterday that something was about to happen. That's interesting that the charts can tell you about potential news. I see Vislink's starting to move!

Whats that burning !!

Its only SKP on fire,,,,feel the heat.