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.

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.

Bloody hell! MM's have a real field day! Slaughter fest!

I think like many of the small caps these are caught up in side ways movement of the FTse Allshares since February (I know it has be rising and falling in that period) There is also a generally a more bearish sentiment over the last month or two, couple with interest in oil prices and pressures, Wimb, footsie and Cricket punters have playing it more carfully. I think this is probably why BPRG which was ramped previously is caching in the kneck.

It is said in the last year of a presidential election the market goes up, I wonder if it will this time.

But I bet if Bush and Blair loose in their next elections then they will after a slight delay. Unfortunately, I think Bliar may con the public once again.


I think I am going to put these shares in my bottom draw for a while. Did that with a tranche of TFC, AMT, RTD and Staffware, very lucky.

I didn't actually realise until today how little BPRG's mkt cap was. I currently have <70m - is that correct?

They really aren't that big an outfit are they? Certainly wouldn't be on the radar screens of many big companies or institutions now.

Aerotus - stop talking crap.

What evidence is there of any institutions "mopping up" ?

This is not the popular thread it once was.

Hope it's because most have cut their losses and are sat watching.

Dil - none I can b****y see!

;-)