I suspect trading tomorrow will probably answer this conundrum, but I know there are some far wiser owls than me that contribute to this bb & I would be interested in their opinions.

My question is this: the chart below looks to me like a pullback of the uptrend (ie when it went north through 14.00) however I am unsure as it has now broken down through 14.00 whether this is trending up or down :-(

So what do you think - up or down, or should I just flip a coin :-)) ?

Wouldnt that mean it had dropped below its 25 day EMA Harry?.

Bad sign if that happens imo.

It did the same at 90p and bounced back strongly, so not sure if the 25 is much of a barrier either way.

Bit of a gap to fill perhaps? If it does retrace worth a wee punt again @ 90p

RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2012

Key points
· Funds under management (FUM) at 31 December 2012 of $57.0 billion (31 December 2011: $58.4 billion)
· Sales of $12.8 billion, redemptions of $20.1 billion, FRM acquisition $8.3 billion, investment movement of $1.3 billion, FX translation effects of $(0.3) billion and other movements, principally guaranteed product de-gears, of $(3.4) billion
· Adjusted profit before tax (PBT) of $278 million, comprising adjusted net management fee PBT of $223 million and net performance fee PBT of $55 million
· Further impairment of GLG goodwill ($746 million) in addition to the impairment reported at 30 June 2012 of $233 million (GLG $91 million and Man Multi-Manager $142 million)
· Statutory loss before tax for the year ended 31 December 2012 of $745 million, reflecting impairment of goodwill and other adjusting items
· $95 million of operating cost savings announced in January 2012 have been delivered
· Further annual cost savings of $100 million announced in July 2012 are on track for delivery by the end of 2013
· Surplus regulatory capital of $795 million at 31 December 2012
· Proposed final dividend of 12.5 cents per share; total dividend for the year expected to be 22 cents

Manny Roman, Chief Executive Officer of Man, said:
"2012 was another tough year for Man. Trading conditions were highly challenging as markets continued to be dominated by political uncertainties in Europe and the US and macroeconomic risks. Investor appetite remained muted and as expected there was a further decline in Man's product margin mix and revenues.

Management's priority last year was to maintain the focus on delivering investment performance for our investors, while reducing our cost base to a level which reflects the economics of a reduced and different mix of asset flows. On both counts we made good progress.

As of mid-February 2013, most of our strategies were off to a good start and there is no doubt investor sentiment has improved somewhat. The number of requests for proposals and the pipeline of new mandates have increased to a degree. However, given the lead time required by institutional investors to invest, gross sales are likely to remain muted in the first half and we are yet to see a slow down in the rate of redemptions.

We have introduced changes to senior management to further enhance Man's focus on investment performance. We will maintain our efforts to make Man lean and efficient. We have identified areas where over the medium term we can build and enhance our investment platform and deliver profitable growth for our shareholders. This gives grounds for cautious optimism for the medium term, but there should be no doubt that business conditions remain very tough. We will continue to focus on delivering performance for our investors; from that, all else flows."

Dividend
The Board confirms that it will recommend a final dividend of 12.5 cents per share for the financial year to 31 December 2012, giving a total dividend of 22 cents per share for the year. This dividend will be paid at the rate of 8.26 pence per share.(ex-divi 24th Apr 2013)"

Went short @ 105.92 on the spreads, target 95.0, stop now at entry for risk free trade.

Target hit and out for now @ 95.0

KEEP an EYE @ 99.60p

Retracement done and now moving forward after bullish Candlestik de last couple days ( morning start ). Share price bouncing from 50 days MA.

MRSI - where is the fibonacci chart option on advfn please?

Wanting to break 100p once again was at 100p offer a couple minutes ago, should be poistive if it does soon.

All the Indicators looking positive as the are bouncing from oversold position
Share price kept ( bounce from ) the UPTREND bottom trendline

Interesting , general market remains bullish then could be looking at an easy 40% upside within 3-6 months.

A full penny up for starters and moving well over 100p, yesterday at the end was the market drop that brought down the stock.

Very volatile at the start as usual on the order book

MRSI - see post 710.

I had a closer look at the 5 days chart and I am reaching the conclution

Someone or a group of shorters are taking a short position every time the share price reaches or close enough 100p.

Most likley they know if it breaks that point the share price will move againts them so they have to supported taking further short

menorca - I am not a chartist, does the gap to 91ish have any significence or is it totally irrelevant?

No reply your worship.

I'm only a learning chartist but my understanding is that the gap has to be filled. Having said that I've been waiting since Jan for the gaps in Barclays to be filled but perhaps there's no time limit on the filling to happen! That might keep you going til his worship replies. I'd be interested to he what he says too.

Chris Carson

re - GAP at 91p

Take it with a pinch of salt but GAPs sometime are filled and other times are not

You have the one at the beguining of January at 84p it was never filled

It has some importance on the mind of many investors, and for that reason some are put off to take a buying position till that point is reached

Most likely in the short term the share price could drop to 95p again for a Double Bottom

But if the market gets nasty then 91p could be filled

There are some support around the 50 days MA lately

Thanks menorca.

The shares have been flagging lately that on any UPTREND this is positive.

shares have been strong since the recovery yesterday afternooon, so is back were it started yesterday morning.

maybe one could say easy down easy up