If you are short: 1st resistance at 5389 (55-90min moving average). Weak stop loss above that level. 2nd resistance at 5409 (previous high). Fair stop loss above that level. 3rd resistance at 5557 (200-day moving average). Strong stop loss above that level. If you are long: 1st support at 5263 (yesterday’s low). Weak stop loss…
After a series of disappointments during 2011, results from Hewlett Packard and Dell over the last 2 days show the pressure being felt by the traditional PC manufacturers as consumers increasingly purchase Apple and Samsung products. Dell shares dropped 17% yesterday to $12.50 after poor results and a weak outlook for the remainder of 2012…
With Tony Rice’s Cable & Wireless Communications perched just off their 52 week (and all time) lows, it will be interesting to see how the market reacts to their results due next week on the 24th May and whether there is in fact a dividend cut that has been speculated about by some analysts. With…
Yesterday morning Xcite Energy tested a low of 73.5p, a 52 week low, before reversing sharply and finishing the day up 9p or 11% at 90.5p. Volume was strong with nearly 9.6 million shares traded. The previous low for the year was 78p set in December 2011. Since then the company has upgraded its P2…
And so the restaurants, car dealers, real estate brokers and jewellers in and around Silicon Valley will be likely be doing brisk business this weekend and the equivalent to hundreds of multi million lottery wins are created with todays Facebook IPO. At its peak in early trade the shares hit $45 valuing the social media…
Update (2) – Given the fresh expressions of interest in the component parts of Plus Group by a variety of parties, there is increasing speculation that a break up bid is again being prepared by Gulf Merchant Bank. If this is the case they will certainly have to offer a premium to cash and a control…
Returning to a national currency after more than a decade of using the euro and having its money managed by the European Central Bank would catapult Greece into a financial, legal and political no man’s land. Countries have defaulted, devalued, or even withdrawn from a broader monetary union in the past. But none has done…
Another disappointing well result this week after the Chariot Oil and Gas bombshell, this time from Somalia’s somewhat aptly named Puntland region! Operator of the Shabeel well, Horn Petroleum Corp listed on the Canadian TSX, provided an update yesterday. The prospect is jointly owned by Red Emperor (20%) and Range Resources (20%) as well as…
The social network shares haven been priced at the top end of the range it set earlier this week, when it said it would price its IPO at $34 to $38 a share from $28 to $35 a share, in a sign of the tremendous investor appetite for the offering. At $38 a share, Facebook…
UPDATE (2) – It seems logical for Gulf Merchant to return to the table now and sell the SX direct to Icap. With confirmation of Misra’s interest in SX and DX now seeing potential acquirers, at the current price the shares still trade at cash value. Any Venture Capital company worth their salt could generate a…
