Uncle - Sainsbury (SBRY)

cookie

Active member
248 1
John, having used your suggested indicators SBRY looks prime for a move north. I fancy 500 in the short term.


Anyone agree???


Cookie
 

Uncle

Established member
671 2
Cookie.......not sure how you are interpreting the indicators, from my chart the share reached a intra day high of 438 on the 21/11 - a posible buy was signalled on the 28/11 and the upper BB 440.5 on the 29/11.

What gives you the impression of reaching 500?

John



[This message has been edited by Uncle (edited 30-11-2000).]
 

cookie

Active member
248 1
John,

??? Head and Shoulders interpretation ????
You'll do for me.
Buying @ 410 - John I'm on !! (and I'm a poet and don't know it)

Note there is approx .04p dividend for shareholders on the register Mon 4th Dec
(payable 12th Jan). This should cover expenses.


Cheers


Cookie

------------------
 

Cigar

Well-known member
292 13
Not in the time scale you are talking about but have a look at SBRY every March/April. Always seems to start a decent trend around then. Perhaps that whole sector does, but its something to remember for next Spring.

Look at it on weekly charts if poss.. take the noise out.
 

shelman

1
439 1
Cookie, What are you doing !!
 

cookie

Active member
248 1
Steve,

Checked my chart interpretation with my friendly 'Analyst' who confirmed that the strong bounce over the few days to the end of last week, in terms of both price and volume, confirmed head and shoulders interpretation..."off the neckline after the pullback, bounce continuing with strong possibility of a 500 target. Also strong development within a rising channel.

I've only just started this analysis and I'm getting disillusioned already.

Eventually Bought at 406 - T+10 so I've got till next Mon to settle. I have a tight stop loss and will dump pronto if heading south.

What do your charts say????


Cookie
 

shelman

1
439 1
Cookie,
I don't really follow SBRY,i made the comment because i felt you were diving in without sufficient justification.
Why not paper trade first to see if your TA is correct.If you know something else, your fundamentals eg, then fair enough.
I must have at least two reasons before i trade even if one is intuition.
Good luck mate
Steve

ps did you win, any holes in one?
 

Cigar

Well-known member
292 13
I reckon the price target from the inverse H & S from March indicates a target of ~460p. Theres good support at 360 and quite a band of resistances from 430 to 460p.

'Cock on the Block Time' Buy in the next week at ~380/385p, sell 3 weeks later at 440p.

rgds mystic meg
 

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