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Shire Pharmaceuticals (SHP) Gains US Approval for Alzheimers Drug
Shire
Thanks Nipper,
Good advice-seems that the MM's have had their fun as it has come back nearly 70p off its lows although still down on the day-have hung on in as I believe in Shire longer term but get cheesed off with the volatilty that is displayed these days for no apparnet good reason.
Thanks Nipper,
Good advice-seems that the MM's have had their fun as it has come back nearly 70p off its lows although still down on the day-have hung on in as I believe in Shire longer term but get cheesed off with the volatilty that is displayed these days for no apparnet good reason.
Closed tonight,Friday,at 1169 down 37, but do we have the signs of a reversal? Volume is 414.91% above average for the last 50 days - more buys than sells - and the Candle chart shows a long lower shadow - which is bullish, and Williams moves upwards out of the oversold area to 76. However, my next support line is at 1025, well below the current price and other indicators still heading south, and the lower BB at 1209.8
Caution is the watchword, but certainly worth keeping an eye on with a view to possible short term profits once more.
Watch out for MM's shenanigans though !!
Best wishes
John
Caution is the watchword, but certainly worth keeping an eye on with a view to possible short term profits once more.
Watch out for MM's shenanigans though !!
Best wishes
John
back to SHP?
Hi everyone, so we're back to watching SHP? It looks like there are a few reasons to the current price pull back:
Arbitrageing as Uncle said: I'd watch this, last time they did this in mid December when they managed to pull the price down by £2...
Disappointment over the decision on what Shire could include on the contents of the label...
Quoting from FT: An analyst at CSFB said the share move was also the result of technical factors relating to Shire's $4bn all share acquisition of BioChem Pharma, which closes later this month...
BUY advices has started with today's Midas column though noting the risk, but also valuing it about $6b dollar in a few months when the biochem deal is completed...needless to say that's twice as much as the current valuation...
The price however fell below the support level leaving us without a strong support around the current level, I do recall a few of us making nice profit on SHP in Dec. and Jan...why spoil it? I think I'd rather wait for a proper support to be formed or for the price to complete its pull back which could well be around £11...
good luck
Riz
Hi everyone, so we're back to watching SHP? It looks like there are a few reasons to the current price pull back:
Arbitrageing as Uncle said: I'd watch this, last time they did this in mid December when they managed to pull the price down by £2...
Disappointment over the decision on what Shire could include on the contents of the label...
Quoting from FT: An analyst at CSFB said the share move was also the result of technical factors relating to Shire's $4bn all share acquisition of BioChem Pharma, which closes later this month...
BUY advices has started with today's Midas column though noting the risk, but also valuing it about $6b dollar in a few months when the biochem deal is completed...needless to say that's twice as much as the current valuation...
The price however fell below the support level leaving us without a strong support around the current level, I do recall a few of us making nice profit on SHP in Dec. and Jan...why spoil it? I think I'd rather wait for a proper support to be formed or for the price to complete its pull back which could well be around £11...
good luck
Riz
down as expected...
Down as expected -54 (-4.6%) to 1126..as the 15 day price setting period for the Biochem Pharma deal kicks in igniting the arbitrage situation...CSFB in the mean time reiterated its “buy” stance and £13 price target..though warning about short-term weakness as we've done here...
This situation provides a good buying opportunity if one is patient enough to wait for the arbitrage situation to end...support is not too far from this point, but we're just not there yet..I'll be watching SHP...
Riz
Down as expected -54 (-4.6%) to 1126..as the 15 day price setting period for the Biochem Pharma deal kicks in igniting the arbitrage situation...CSFB in the mean time reiterated its “buy” stance and £13 price target..though warning about short-term weakness as we've done here...
This situation provides a good buying opportunity if one is patient enough to wait for the arbitrage situation to end...support is not too far from this point, but we're just not there yet..I'll be watching SHP...
Riz
Selling pressure in the Exchange’s selling auction saw Shire Pharmaceuticals lose 54p to 1,126p according to The Daily Telegraph. The Guardian says those selling shares should contact CSFB as its broker reckons current weakness ahead of the acquisition of BioChem Pharma represents a buying opportunity.
Closed the day down -6 to 1120...after dipping down to 1045 early morning prividing a geat daytrade opportunity and suggesting it's still early to get in longer term...
Volume was heavy; 18m with buy: 7,590,760 sell: 9,163,636 ?: 1,258,123 according to advfn...most last minute and afterhours trades being sells...
Riz
Volume was heavy; 18m with buy: 7,590,760 sell: 9,163,636 ?: 1,258,123 according to advfn...most last minute and afterhours trades being sells...
Riz
Latest on the Merger
The following announcement has been made by the company today 13/03:
"Shire has become aware of an increasing number of enquiries as to the current status of the timetable to completion of the proposed merger with BioChem. In order to try to clarify the situation, the Board of Shire announces that the proposed merger with BioChem is proceeding satisfactorily with the integration planning well under way.
The merger is conditional, inter alia, on the Minister of Industry Canada's approval as well as the approval of both Shire and BioChem shareholdersa at meetings to be held on the 29 March 2001. Shire announces it has received notification from the Director of Investments under the Investment Canada Act that the period of his review of the proposed merger has been extended.
Discussions are continuing with the Director of Investments and the Board of Shire remains confident that the approval will be forthcoming, although the timing of such approval cannot be forecast with certainty. As a consequence completion of the merger, which is expected to occur on the 30 March2001 could be delayed. The Board currently believes that the period of any delay is unlikely to be significant."
......................
Has anyone else been on the roller coaster with this stock this week????????
John
The following announcement has been made by the company today 13/03:
"Shire has become aware of an increasing number of enquiries as to the current status of the timetable to completion of the proposed merger with BioChem. In order to try to clarify the situation, the Board of Shire announces that the proposed merger with BioChem is proceeding satisfactorily with the integration planning well under way.
The merger is conditional, inter alia, on the Minister of Industry Canada's approval as well as the approval of both Shire and BioChem shareholdersa at meetings to be held on the 29 March 2001. Shire announces it has received notification from the Director of Investments under the Investment Canada Act that the period of his review of the proposed merger has been extended.
Discussions are continuing with the Director of Investments and the Board of Shire remains confident that the approval will be forthcoming, although the timing of such approval cannot be forecast with certainty. As a consequence completion of the merger, which is expected to occur on the 30 March2001 could be delayed. The Board currently believes that the period of any delay is unlikely to be significant."
......................
Has anyone else been on the roller coaster with this stock this week????????
John
Agree with you Steve. It droped below my support at 1020 today to 1003, but recovered to close at 1034.
However, dont rush in yet, it might just go down to the next support at 950, where it was in December before it took off to rise to 1357 intraday.
Like you keeping a eye on it
John
However, dont rush in yet, it might just go down to the next support at 950, where it was in December before it took off to rise to 1357 intraday.
Like you keeping a eye on it
John
Down -140 (-13.9%) to 865...it is still something to do with the share-swap deal to acquire Canada's BioChem Pharma Inc... we can't possibly know where it will stop falling until the calculation period for averaging Shire's share price is announced...as they are still wating for the final completion date for the deal which depends on clearance from Canadian anti-trust regulators...and that has been delayed...
So just watching for the time being I'd say...
Riz
So just watching for the time being I'd say...
Riz
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