Logica LOG

shelman

1
439 1
Steady on Riz ... i'm only a small player and i could get my come-uppance tomorrow ... i've left my position on LOG open overnight despite todays rise. The MMs did'nt perform their usual trick of pulling back the price to suck in the sellers probably because more buyers would have moved in.
Could be wrong but it can't do me too much damage (i hope)

Steve
 

Riz

Experienced member
1,266 5
So where does LOG go from here? This must be the hardest one to call lol...

It's obvious that private investors and insititutions are reading LOG's trading update differently or private investors' love with LOG is deeper than I could imagine...for the last 2 days after the disappointing trading update LOG lovers didnt stop buying it at any level between 720 and 660, many users of our chatroom among them, thinking LOG was the most non-fallable knife falling at the time and considering it the biggest buying opportunity...thus instead of shorting it all the way down they kept longing it...

Mind you LOG also caused analysts divide on it...after all it's first time LOG accepted at least part of their business, its mobile networks division, will not meet expectations...which was enough for the price to fall from 830 to 660 (170) in 2 days...

So where does it from 660? Well LOG is obviously not going to end up like some dot.com dogs in a penny share...it should therefore stop falling and start trading in a range at some point...a look at the chart and indicators suggesting further falls still possible, but bounces also on the card...

It looks to me that we're going to see LOG trade between 600 and 720 for a while with lots of bounces making it a nice share for day/short term traders...but also so volatile that can hurt anytime and change direction very frequently...

Me, I like such shares, been on the short side since the trading update, going to watch it very closely to trade both ways, preferrably long as close as possible to 600 and short to 700/20...

Riz
 

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Riz

Experienced member
1,266 5
LOG heading the bottom of the trade range suggested in the earlier post, ended the day down -16.5 (-2.6%) at 618...Will it hold and bonce from the bottom of this range? The last candle pattern, stochastics being o/s and rsi about to go flat near a level where it previously formed 2 bottom suggesting so..still 600 not far away, next sessions will show if the suggested tradign range will hold or we'll see a lower one...

Riz
 

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