I bought some on Friday for a short-term punt.OT is showing a decent number of buy signals and vol has been good.with the boss coming back from holiday and presumably trying to do something positive for the share price(like maybe buying all those shares back?),must be due for a bounce soon-I HOPE!!
ICE price is about 35p lower than year low of 238 in late May from which it bounced up and rose all the way to well over 300 forming higher highs and higher lows.. on Wednesday it touched 200 and bounced back up…it looks like it might form double bottom around 200 then head up…
Malcolm Walker, the chairman of ICE is expected to announce that he will step down…that is because he sold shares worth £13m 4 weeks before a profit warning of announcing the sales down 1.5% in the second half and 5.5% at Christmas…
What is interesting is that brokers/analysts had all been talking up Iceland over recent months with "undervalued" "strong buy" and "target price 400p" prior to the announcement…
It’s been on my watch list for a while and I have been waiting for the turn around…It has had the big shakedown pushing all the weak holders out and the bad news already priced into the share price... There have been talks that it could be subject of a takeover too.. with Tescos being the potential predator..it’s rumoured that they might convert the stores into Metro stores…
Share price has been moving below the lower BB for a while only after the last bounce of a few pences it started to move inside the BBs which is a good start I think…stochastics have been moving at the lowest limit of oversold area and K has just headed up crossing D which also is a good sign.. OBV also is just about to form double bottom and head up (if that’s done I think a sharp upward movement will start)..
Over all all signs suggest that ICE selling is overdone and a recovery might start soon.. the trades on Friday also suggest so: 1,488,278 BUY against 378,538 SELL..buys including a few round figures occurring right before and after (two 150k buys, one 125k buy) the market closed…
Hi guys - new to this site and ice (in on friday) point worth noting report on the integration of Booker is due soon . General feeling is that it will be bad news but if its good maybe a little profit here. Looking for 225 on T20.
I bought in last Thursday. Price has dropped 44% in the last month and appears to be an over-reaction to the trading statement. More news Wednesday, probably a reaction, after which I expect a recovery.(I hope)
Iceland confirms trading statement Wednesday, Booker performance to feature
LONDON (AFX) - Iceland Group PLC will make a trading statement on Wednesday,
which will highlight recent trading at its Booker unit the food wholesaling
and distribution group bought by the frozen foods group last year, an Iceland
The Iceland spokesperson said Wednesday's statement will include details of
current trading at Booker, and its cost savings performance relative to targets
set when Booker was first bought.
Industry sources have suggested that the Booker trading statement may make
They expect Iceland to reveal that Booker sales have been disappointing, and
Iceland has failed so far to hit the cost-savings targets made at the time
of the buy.
Such news would come as a further blow to Iceland, which has seen its shares
tumble since its profits warning a week ago. Any poor news on Booker would mean
that forecasts for Iceland, which were slashed in the wake of the recent gloomy
trading update, could be cut further.
But the spokesperson declined to comment on whether the departure of
chairman Malcolm Walker, which was widely touted in the weekend press, will be
announced at the same time.
However, industry sources have told AFX News that Walker was asked to resign by newly-appointed chief executive Bill Grimsey over the weekend. They said Grimsey put Walker under pressure to resign because of the bad publicity
surrounding his sale of a 4 mln Iceland shares at 339.13 pence in mid-December.
The stake sale, which was made only a month before Iceland's poor Christmas trading update, has attracted a raft of negative press comment especially as Iceland's share price has since collapsed.
At 11.42 am, Iceland shares were trading 10-1/2 pence lower, or 5.13 pct, at 194 but above morning lows.
The worst it can go is 180 when it formed double bottom 3 years ago..also it is worth keeping in mind that the price was pulled down in spite of continuous buys totalling 2,636,582 against 680,816 sell and 1,190,986 unspecified trades...It's good news that none of us has got in yet...only it looks like the reversal might also be as sharp..so I'd keep watching and get in at the first sign of reversal...as I have no doubt that this stock is now oversold and undervalued...in other words this price is wrong just as ba. price was a while ago...
But only for those who dont understand Money Management, Cookie.
As the man says.......... A lesson for everyone, as are other shares that drop like stones. We know at least two posters who bought anticipating a reversal. Remember, folks thats not the tuition you should have learned on this BB.
Down 29.5 (15.73%)to 158 today, at the time of writing.
Just goes to show......... who can anticipate a bottom???
Well well well... this is certainly turned out to be full of lessons to learn as our Cookie and Uncle rightly said...only the lesson is not only that it is full of danger and bad surprises out there...as that we all already know...but still keep going there..so only learning that is not good enough, we should also learn how to protect ourselves from the danger or at least minimize the damage...with ICE and the sort in particular without such skills the damage is maximum...
As for me, I only watched and made comments about ICE till this morning, but determined to get in at the first sign of reversal (because companies like ICE, BA.,etc. are not the kind to write off easily, like some hyped dotcoms)..anyway this morning I watched going up sharply from 156..at 164 decided to get in and ride them all the way up to 172..then with the second profit warning and resignation, etc. it started to fall down like a shooting star...I waited till they hit my entry point of 164 and got out before they went all the way down to 146...then up to 159..flat around that level..another fall to 148 ending the session at 149...
So where from here? I'll certainly be watching them for a recovery and I am sure they will..analysts of course come up with contradictory results as it often is the case...WestLB Panmure continues to rate the stock as a “sell” down to 100p....while Credit Lyonnais Securities still regarding the stock as a “long-term buy for the brave...
Cookie...will you please stop bouncing up and down and Riz,what can i say, your posts are a credit, thank you.
As for iceland, i'm watching and waiting. i'm convinced a bid will come in...the times right, the sentiments right and the monies in the right place...Iceland will not exist on its own for much longer...imho...of course.