Quite right Steve, still worth watching from this point on I think as it looks like the bottom could be around this level where it might start going up...any signs of this support level being broken should alert anyone of course...
Dresdner Kleinwort Wasserstein has a buy rating for BHM with a 520p price target...BHM ended friday down -2 to 320, though been bullish and hovering around 340 most of the day...
Riz
(no financial advice intended)
Dresdner Kleinwort Wasserstein has a buy rating for BHM with a 520p price target...BHM ended friday down -2 to 320, though been bullish and hovering around 340 most of the day...
Riz
(no financial advice intended)
A simple guide to reading candlesticks is required here- not foolproof, but I use it and it seems to pan out....
If there is a tail above the box,wether it be black or white, says to me that the price has resisted the upward pressure.If the tail is down, the the stock has resisted downward pressure. Im NOT saying this is a reversal.If the tails are equal above and below the body, the market is "undecided" on the fair price and it isntt going to move violently in either direction.
The last 10 days or so has been indescision on BHM, with the balance in the last 5 days being in favour of "not being able to push the price up", because of all the small upper tails on the bodies.
There is so much more to Candles than meets the eye.There was once a time when I never even looked at them...and by and large I still don't - until I need more confirmation of a possible entry into a stock.
If there is a tail above the box,wether it be black or white, says to me that the price has resisted the upward pressure.If the tail is down, the the stock has resisted downward pressure. Im NOT saying this is a reversal.If the tails are equal above and below the body, the market is "undecided" on the fair price and it isntt going to move violently in either direction.
The last 10 days or so has been indescision on BHM, with the balance in the last 5 days being in favour of "not being able to push the price up", because of all the small upper tails on the bodies.
There is so much more to Candles than meets the eye.There was once a time when I never even looked at them...and by and large I still don't - until I need more confirmation of a possible entry into a stock.
Your so right Martin, Candlesticks really do light up the picture - forgive the pun. The longer the tail the more indicative the signal. My charting is set on candlesticks, as I find they show a much clearer picture at a glance than bar charts. As for where the reversal takes place is always a matter of judgement, and it is always wise to wait for confirmation the following day. Not sure how this would work on intraday when one needs to act much faster.
Meanwhile, best to do what the analysts have said about money on the sidelines, in these unsure times.
Risk a little and wait for better times with the bulk of the dosh.
John
Meanwhile, best to do what the analysts have said about money on the sidelines, in these unsure times.
Risk a little and wait for better times with the bulk of the dosh.
John
Thoguht it's best to make a note here for anyone watching BHM that they're announcing first quarter figures next wednesday...on thursday bhm was being slaughtered here, down -32, whereas ended the day +ve in us...friday up +2 to 320...so careful if you're watching them
Riz
Riz
Down to 285 now. It seems that all the bad news was not already in price :-
DKW: Bookham a buy
With tomorrow's results from Bookham (BHM - news) looming large, Dresdner Kleinwort Wasserstein has reiterated its "buy" recommendation. The shares opened at 320p.
"Visibility into Bookham's revenue streams is extremely limited given that major customers, such as Nortel (NTL), continue to struggle. However, there is a lot of bad news in the price," DKW says in its latest note.
"We have taken a marginally cautious stance and are therefore forecasting negative growth of minus 2% compared with the fourth quarter of 2000. This compares with management’s guidance of flat growth. Our forecast of gross margin breakeven in the first quarter is in line with management's guidance." DKW is forecasting losses per share of 8p, a rise of 14% on the previous quarter.
"We believe that the market will not be focusing on Bookham’s numbers, but will be very keen to learn of any new customer wins for the company’s DWDM products, which are currently undergoing trials with 12 customers." For the non-techies out there, DWDM is an advanced fiber-optic transmission technique.
The note concludes: "The company’s technology is still under scrutiny and any news on new products, licensing agreements, or production line yield improvements will be viewed positively."
Steve
DKW: Bookham a buy
With tomorrow's results from Bookham (BHM - news) looming large, Dresdner Kleinwort Wasserstein has reiterated its "buy" recommendation. The shares opened at 320p.
"Visibility into Bookham's revenue streams is extremely limited given that major customers, such as Nortel (NTL), continue to struggle. However, there is a lot of bad news in the price," DKW says in its latest note.
"We have taken a marginally cautious stance and are therefore forecasting negative growth of minus 2% compared with the fourth quarter of 2000. This compares with management’s guidance of flat growth. Our forecast of gross margin breakeven in the first quarter is in line with management's guidance." DKW is forecasting losses per share of 8p, a rise of 14% on the previous quarter.
"We believe that the market will not be focusing on Bookham’s numbers, but will be very keen to learn of any new customer wins for the company’s DWDM products, which are currently undergoing trials with 12 customers." For the non-techies out there, DWDM is an advanced fiber-optic transmission technique.
The note concludes: "The company’s technology is still under scrutiny and any news on new products, licensing agreements, or production line yield improvements will be viewed positively."
Steve
Well at the end of the day it was down -12.5 (-4.0%) to 300...apart from growth problems for the rest of the year, the idea that they are going to ask shareholders to approve a plan this week to issue up to 6 percent of its equity in the form of new shares is a matter of concern...BHM is certainly having a hard time...Let's see if they can get out of this without further substantial damage to the share price...
Riz
Riz
Bookham Tech. Q1 revenues £11.6m vs £11.5 last quarter and up 362% from Q1 2000 with a cash balances of £238m, but also states that it is experiencing reduction in demand and is seeing order deferrals
End of day Price: -29.0 (-9.7%) 271
Thus joining Traderx' recovery list...
Riz
End of day Price: -29.0 (-9.7%) 271
Thus joining Traderx' recovery list...
Riz
Last edited:
A summary of BHM results:
LONDON (FTMW) - Worse is yet to come from optical networking components maker Bookham Technology.
After warning on fourth quarter profits in January and posting flat first quarter revenue on Wednesday, Bookham [UK:BHM], [US:BKHM] warned that its second quarter could see a "sharp downturn" in sales.
The company posted a widened net loss on Wednesday, in line with analyst expectations. It said a slowdown in the optical components market, which it supplies, had led to a reduction in demand with customers deferring orders.
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Shares fall
Shares opened 8 percent lower at 270 pence but later recovered half those losses to sit 4 percent down at 288 pence. In late afternoon trade they then fell again to close 9.7 percent down at 271 pence.
The stock's 52 week low was 240.5 pence against a high of £53.80 in July last year.
The Oxfordshire company reported first-quarter revenues of £11.6 million, compared to £11.5 million in the fourth quarter. Analysts had expected £11.5-12 million.
The company said in a statement: "The optical equipment market has become less predictable, leading the company and its customers to institute a very cost-conscious approach."
Downturn
On a conference call with journalists, president and chief executive Giorgio Anania later said that the company expected a third-quarter downturn compared to the same period last year and possibly compared to the first quarter this year, as well as a sharp fall off in second quarter sales.
The fourth quarter could see an "uptick", he said, and the company thought the second quarter would mark the bottom of the downturn in the sector.
Schroder Salomon Smith Barney analyst Nav Sheera was not surprised at this news, having previously said he thought the company would have to adjust its annual forecasts. See Monday's preview. However, he said it was unusual not to mention this specific quarterly view in the initial results statement to the stock exchange.
Riz
LONDON (FTMW) - Worse is yet to come from optical networking components maker Bookham Technology.
After warning on fourth quarter profits in January and posting flat first quarter revenue on Wednesday, Bookham [UK:BHM], [US:BKHM] warned that its second quarter could see a "sharp downturn" in sales.
The company posted a widened net loss on Wednesday, in line with analyst expectations. It said a slowdown in the optical components market, which it supplies, had led to a reduction in demand with customers deferring orders.
Go deeper
News Alerts
MarketPulse
News Stories
Europe
US
Global
News by Email
Shares fall
Shares opened 8 percent lower at 270 pence but later recovered half those losses to sit 4 percent down at 288 pence. In late afternoon trade they then fell again to close 9.7 percent down at 271 pence.
The stock's 52 week low was 240.5 pence against a high of £53.80 in July last year.
The Oxfordshire company reported first-quarter revenues of £11.6 million, compared to £11.5 million in the fourth quarter. Analysts had expected £11.5-12 million.
The company said in a statement: "The optical equipment market has become less predictable, leading the company and its customers to institute a very cost-conscious approach."
Downturn
On a conference call with journalists, president and chief executive Giorgio Anania later said that the company expected a third-quarter downturn compared to the same period last year and possibly compared to the first quarter this year, as well as a sharp fall off in second quarter sales.
The fourth quarter could see an "uptick", he said, and the company thought the second quarter would mark the bottom of the downturn in the sector.
Schroder Salomon Smith Barney analyst Nav Sheera was not surprised at this news, having previously said he thought the company would have to adjust its annual forecasts. See Monday's preview. However, he said it was unusual not to mention this specific quarterly view in the initial results statement to the stock exchange.
Riz
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Teather & Greenwood analyst Phil Smith said design wins, management changes, expanded capacity and available cash meant that Bookham was "now well positioned to expand and move into profit". He upgraded the stock to "hold" from "sell". He forecasted profitability in the third quarter of 2002 as new products would drive sales.
The company said that with an estimated six month slippage in industry growth, it expected its previously predicted break even point of the end of this year to slip by the same length of time - into the middle of 2002.
Riz
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Teather & Greenwood analyst Phil Smith said design wins, management changes, expanded capacity and available cash meant that Bookham was "now well positioned to expand and move into profit". He upgraded the stock to "hold" from "sell". He forecasted profitability in the third quarter of 2002 as new products would drive sales.
The company said that with an estimated six month slippage in industry growth, it expected its previously predicted break even point of the end of this year to slip by the same length of time - into the middle of 2002.
Riz
I remember saying 'BHM can look bearish, bullish and rubbish on the same day' when the price was well over £10...well it then started looking only rubbish for a long while, therefore I stopped updating the thread, as there was no point...
But after announcing their results recently BHM strated recieving some +ve comments:
"Bookham looks well positioned and certain to survive the downturn," said Teather & Greenwood
Goldman Sachs said Bookham was "hanging on in tough markets" and added that the business had done well in terms of managing its cost base and cash burn rate during the quarter. (ft)
Lehman: "We believe that Bookham can now break even on a gross margin level at roughly £8 million. Hence, we are bringing gross margin breakeven forward by one quarter to the third quarter of 2002,"
etc...though BHM posted a 59 percent slide in its third-quarter revenues...
Well whatever they say we look at the chart for guidance...
It looks bottomed out and trying to break through for the 2nd time, 1st attempt in mid October failed at 136...todays gain of 14.5% was on unusually high volumes making it end the day up +15.25 at 120.25...RSI, stochastics and last candle pattern also in favour of further rises...so lets watch and see if BHM can really break through this time
By the way I longed it in the morning at 110 and made an exception to hold it o/n as the rise was on high volumes
Riz
But after announcing their results recently BHM strated recieving some +ve comments:
"Bookham looks well positioned and certain to survive the downturn," said Teather & Greenwood
Goldman Sachs said Bookham was "hanging on in tough markets" and added that the business had done well in terms of managing its cost base and cash burn rate during the quarter. (ft)
Lehman: "We believe that Bookham can now break even on a gross margin level at roughly £8 million. Hence, we are bringing gross margin breakeven forward by one quarter to the third quarter of 2002,"
etc...though BHM posted a 59 percent slide in its third-quarter revenues...
Well whatever they say we look at the chart for guidance...
It looks bottomed out and trying to break through for the 2nd time, 1st attempt in mid October failed at 136...todays gain of 14.5% was on unusually high volumes making it end the day up +15.25 at 120.25...RSI, stochastics and last candle pattern also in favour of further rises...so lets watch and see if BHM can really break through this time
By the way I longed it in the morning at 110 and made an exception to hold it o/n as the rise was on high volumes
Riz
Attachments
Picked as one of a few on my EDS routines tonight. Also read somewhere that the directors were taking substantial pay cuts relative to their predecessors...like 66%....( I think). Is this going to be a nice example of a cup and handle? lots around at the moment....A close above 127 should take us up to 163...or 30%
I think I'll be in at 127 tomorrow, trend permitting...see the chart in the next thread...has an interesting volume algorithm plotted that is excellent at indicating the true bottoms....
I think I'll be in at 127 tomorrow, trend permitting...see the chart in the next thread...has an interesting volume algorithm plotted that is excellent at indicating the true bottoms....
Retraced a bit on Thursday on very low volume though, then another push up on Firday again on high volumes, +8.25 (7.0%) to 126...break through highly likely now, looks like both stochastics want to cross over 80 line like they did last time in mid October...nice to be in, only shame CM is acting late on this baby 
Updating the chart
Riz
Updating the chart
Riz
Attachments
Bookham - announcement 5th november
JUST RECEIVED THIS ANNOUNCEMENT BY E-MAIL FROM THE BOOKHAM PR - BUT NO RNS ANNOUNCEMENT AS FAR AS I CAN SEE
Bookham Technology
supplies technology samples to Nortel Networks
FOR RELEASE: 5 November 2001
Abingdon, Oxfordshire: Bookham Technology plc (LSE: BHM; NASDAQ: BKHM) is developing Dense Wavelength Division Multiplexing (DWDM) products, known as Optical Spectrum Analysis Modules with switching input. Following a preliminary technical and development phase, which commenced in late 2000, these modules are now being delivered and have been designed for evaluation in Nortel Network’s next generation long-haul transmission systems.
The Optical Spectrum Analysis Module (OSAM) with switching input monitors optical power levels in DWDM systems. This module combines three levels of optical functionality on a single silicon chip (switching, demultiplexing and detecting) and is capable of analyzing over 400 channels at up to 40 Gbit/s. The module demonstrates the extent to which the ASOC® platform can allow integration of multiple functionality.
Giorgio Anania, President and CEO, Bookham Technology said “We believe there will be a large market for DWDM monitoring products and we are well positioned to support this area. The company is committing substantial resources to enhance the range of optical functionality from the ASOC® platform. We are continuing to see a positive response from our customers”.
-ends-
Bookham Technology (LSE: BHM; Nasdaq: BKHM) designs, manufactures and markets components that integrate optical processing functions on a single silicon chip using high volume production methods. Using patented silicon-based ASOC technology, the company’s products generate, detect, route and control light signals, allowing communications network providers to build systems with advanced optical processing capabilities to help meet the growing demands of Internet traffic. The company, whose securities are traded on Nasdaq and the London Stock Exchange, is headquartered in the UK, with facilities in the US, Canada, France, Italy and Japan, and employs approximately 650 people world-wide.
More information on Bookham Technology is available at www.bookham.com
Bookham and ASOC are registered trademarks of Bookham Technology plc
Contact:
Sharon Ostaszewska Jo Thompson
Bookham Technology EML
Tel: +44 (0)1235 837612 +44 (0)20 8408 8000
[email protected] [email protected]
JUST RECEIVED THIS ANNOUNCEMENT BY E-MAIL FROM THE BOOKHAM PR - BUT NO RNS ANNOUNCEMENT AS FAR AS I CAN SEE
Bookham Technology
supplies technology samples to Nortel Networks
FOR RELEASE: 5 November 2001
Abingdon, Oxfordshire: Bookham Technology plc (LSE: BHM; NASDAQ: BKHM) is developing Dense Wavelength Division Multiplexing (DWDM) products, known as Optical Spectrum Analysis Modules with switching input. Following a preliminary technical and development phase, which commenced in late 2000, these modules are now being delivered and have been designed for evaluation in Nortel Network’s next generation long-haul transmission systems.
The Optical Spectrum Analysis Module (OSAM) with switching input monitors optical power levels in DWDM systems. This module combines three levels of optical functionality on a single silicon chip (switching, demultiplexing and detecting) and is capable of analyzing over 400 channels at up to 40 Gbit/s. The module demonstrates the extent to which the ASOC® platform can allow integration of multiple functionality.
Giorgio Anania, President and CEO, Bookham Technology said “We believe there will be a large market for DWDM monitoring products and we are well positioned to support this area. The company is committing substantial resources to enhance the range of optical functionality from the ASOC® platform. We are continuing to see a positive response from our customers”.
-ends-
Bookham Technology (LSE: BHM; Nasdaq: BKHM) designs, manufactures and markets components that integrate optical processing functions on a single silicon chip using high volume production methods. Using patented silicon-based ASOC technology, the company’s products generate, detect, route and control light signals, allowing communications network providers to build systems with advanced optical processing capabilities to help meet the growing demands of Internet traffic. The company, whose securities are traded on Nasdaq and the London Stock Exchange, is headquartered in the UK, with facilities in the US, Canada, France, Italy and Japan, and employs approximately 650 people world-wide.
More information on Bookham Technology is available at www.bookham.com
Bookham and ASOC are registered trademarks of Bookham Technology plc
Contact:
Sharon Ostaszewska Jo Thompson
Bookham Technology EML
Tel: +44 (0)1235 837612 +44 (0)20 8408 8000
[email protected] [email protected]