Bioprogress is a stock I have been in and out of quite a few times since it floated in May but not much mention here on the Investors' Room. Does anyone else follow this stock. I see it is up 1.5p today and a few good buyers seem to have appeared.

Can't see many people holding shorts covering on this move. Mind you, the big move will come when they do close out, but for now there is little to sway them to that thinking.

Still think the MM's suckered a few in early today, which is a shame.

Al

Tough on them really, if you have confidence in this technology, company then no reason to sell out yet. Long term holders will hopefully benefit soon.

AdieH

I must admit when I read the news this morning, I thought there'd be quite a bounce. I've been rather surprised at the overall lack of it thus far. It may take off with some press coverage tomorrow, but for such a high profile stock you'd have thought things would've have been a bit more positive.

Al

Big Al, the news about Perrigo being the unnamed OTC had already been leaked and was known by the inner circle of long term investors (who conveyed this through the boards). Hence we were expecting it rather than being surprised. News leaking like this lessens the impact and rise of the share price which is bad. However, there will come a time when there is SO much good news that the SP will violently recorrect itself. This will happen when solid projected figures for revenue come out in the brokers note (any day now).

Aerotus - if true, then fine, but why did the price then fall throughout last week? That does not strike me as a normal reaction to leaked news.

I know I keep banging on about it, but the only objective view is that there is generally something nasty going on. Sorry to be a pain, but I've been caught like this before and I know how much it can cost people. Thankfully I learnt a very valuable lesson or two several years ago. It has stood me in good stead ever since.

The other thing that worries me is that how is it this company leaks info so regularly? I don't take that as a very good sign either. The best kept secrets and news are usually the ones that matter.

Al

Big Al - The inner circle (on advfn boards)have hinted news and so far, all the predictions have come true. But Graham still has a few major surprises up his sleeve which nobody knows about, these will be apparent soon.

I have to say, I am totally amazed at how there are still people selling/shorting BPRG after this news today. Who in their right mind would be selling right now? Baffling!

More great news on the way, you'd have to be insane to be considering selling now! Geez... Poor fools

Aerotus

That is the worrying thing. News is being leaked to BB posters. At the end of the day, this is a fairly desperate measure IMO. I'm certainly not amazed people are shorting, especially today. If that news doesn't drive it, then what will?

I'll continue to watch things as they unfold, but find it quite fascinating. There's a lot of me circa 1997 in some of the post over yonder and I know what it cost me long term - financial pain.

Anyway, best of luck.
Al

This stock is low on sentiment but its unbelievably cheap. I'll wait for the bottom but it has to be close now. I thin that the latest forecast will right things - an analyst presentation is in the offing I've heard - anyone have any details or timing?

joe

Wait until she's turned. Don't try to pick the bottom. There's time yet.

This will be a screaming buy when it turns, but I have to agree with Big Al - the charts are awfull - I bailed out some time ago and I am waiting to go back in. Big Al - have you the charting software to predict at what point will the RSI will dip below 10?

gavin

I've used Sharescope for a number of years. I wouldn't advise necessarily buying when RSI is <10. Although it indicates a very oversold position this does not in itself indicate a turn. I'd rather wait until the MA's are on the up and then buy a pullback/dip as defined by RSI (or another similar indicator).

At present the MA's are trending down so I don't see it as a buy. It's that simple really. I learnt a long time ago not to catch a falling knife. It's an old adage, but very true.

Must admit to being quite flabbergasted that yesterday's news couldn't muster any share price support really.

notice that 50/200 MA converging at 80p and price coming to meet start of 200MA
at 56p ?????????????? what does this mean if anything ? Just starting to look at TA CHARTS not sucessfully at present as you may have gathered.

ep

emailpat - you are quite correct on the dead cross (50SMA passes below 200 SMA).



A long held TA adage is that the bears live below the 200day and the bulls above it. Must admit there's room for a bounce up, but that 50 is coming down very quickly.

PS - price coming to meet 200 is irrelevant.

Al
;-)

60p must hold this week or all bets are off IMO.

Nasty open this morning, but could be MM scare. Either way still not clever.

Big Al-Thanks

ep

Anyone have a view on why the share price is dropping like a stone?

Yes - I have a theory, I have noticed a similar pattern recently with several shares of a similar profile - e.g. speculative small cap / AIM listed shares not dominated by institutions - Proteome is a great example. I think that a lot of small traders like myself now have up to the minute price information, moving average info and can set a stop loss very easily - and a lot of people know what it is like to get their fingers burnt from a few years ago. In short - a share moving through a shares 200 day moving average appears to triggers a mass sell off by loads of small cap investors - and this in turn becomes a self fullfilling prophacy as stop losses kick in. IMO there is nothing wrong with Bioprogress - but I sold as they moved through the 200 day MA - and I, like many others am waiting for the tide to turn before I move back in.

Yup, agreed. Lots of stop losses kicking in. Private investors getting fucked over yet again. Institutions mopping up the sells at this RIDICULOUS level.

gavin

I think you were wise. Funny you flagged up PRM. I posted earlier this year what would happen to it if 190p broke. I was roundly slated, but the price action thereafter spoke for itself.

BPRG is through 60p pretty solidly now. It could be argued they are short term oversold, but the steepness of the downtrend would indicate recovery to about 68p at best. Of course, slides now are breaking levels that should have held quite well. This is looking very shaky indeed. Wouldn't say volumes are very high, but they have been decent on 3 consecutive down days, which is not good.