ICE - Iceland


Established member
Having dropped from 304 on the 17/1 to 204.5 on the 26/1
does anybody think the selling has been overdone.

Certainly one I am watching

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!!
Nice Pick

Hi John,

You’ve got a nice pick there…

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’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…

Rizgar (Riz)

[Edited by rizgar on 30-01-2001 at 12:39 AM]
Seems like you confirm my analysis of the situation Riz. I will watch with interest tomorrow Monday
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.
Welcome to the club Taxi and heres hoping your profit from this one and others too.

Keep your post coming you will find us a friendly bunch.
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)

29Jan2001 11:46

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
spokesperson confirmed.

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
dismal reading.

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.

Source: Updata Newstore

Guys Guys Guys.

Remember the words of Dr Iraj.

Do not buy into a down trend, you are only trying to guess the bottom. GREEDY!!! and expensive.

There will still be a profit to be had when it starts to move north.

How right you are Cookie...........down another 12 today. Still watching and waiting!!!!
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 I'd keep watching and get in at the first sign of I have no doubt that this stock is now oversold and other words this price is wrong just as ba. price was a while ago...

good luck

Statement Due

Price still heading for the Statement due anytime now
Still down -5 (-2.6%) to 187.5..bouncing from intraday low of 185.5 however...

Looks like we'll have to wait for tomorrows's announcement on the state of the merger with Booker to reach to a final decision about ICE..

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???
Quotes from todays News Release

"Malcolm Walker Founder and Chairman resigns today."

"Booker merger has progressed slower than envisaged"
" ....worst it can go is 180...."

Can't resist it Riz !!

LOL - LOL - LOL the way thanks for SGE last week in Chatroom - sold at 391 for nice £800 profit.

You see he is usually right folks.

ICE - 150 can it go any lower ????

Usually a nice little earner these ones - traded PON last 2 days 215 - 244.

Wait for positive action first.

Good Luck

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 that we all already know...but still keep going 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 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.
Candlestick Chart

Today a doji star occurred: this often signals a reversal with confirmation occurring on the next bar.

However with the RSI at 9.315 and the Williams at -98.19 this shows weakness. My Stochastic and CMO show a small positive move with a likely cross-over should the price rise tomorrow.

CAUTION is still the watchword dont go rushing in till there is something really positive to go for.

Meanwhile I watch and wait
Steve, thanks...

Cookie, I am glad you made something out of SGE..I am sure we'll make much more by sticking together..