MPG - Metro Glass

[Kay]

Maybe so...but it's a nice price if you ignore the chart (not something I am advising!)

[Baa_Baa]

it's a nice price if you ignore the chart

For posterity, this is going to join other famous last words in my trading diary.

🙈🙉🙊

[percy]

Maybe so...but it's a nice price if you ignore the chart (not something I am advising!)

Well I know if you had brought HBL every time it had gone below the 180 day moving average [major sell signal], over the past 5 years you would have made a lot of money.
Not a lot of people know that.!
However, you would have to be very brave to try it with MPD.I wouldn't.

[Kay]

Well I know if you had brought HBL every time it had gone below the 180 day moving average [major sell signal], over the past 5 years you would have made a lot of money.
Not a lot of people know that.!
However, you would have too be very brave to try it with MPD.I wouldn't.

Well I do buy shares with a buy-low and take-a-punt attitude.

And whenever I buy a cheap high dividend stock I seem to greatly increase my capital before long.

However, if I am wrong at least I have the consolation of featuring in Baa Baas diary!

[carrom74]

Well I do buy shares with a buy-low and take-a-punt attitude.

And whenever I buy a cheap high dividend stock I seem to greatly increase my capital before long.

However, if I am wrong at least I have the consolation of featuring in Baa Baas diary!

You are not alone Kay... if all the traders follow TA then there will be no place for us.. I just hope your name are not on the diary!

[Valleytrader]

I would be keen to dip my toe in again if it had positive net tangible assets per share. However having bought some at 1.24 and 1.06, I think I have enough exposure to a company whose net asset value is less than it's intangible asset value.

[Baa_Baa]

I would be keen to dip my toe in again if it had positive net tangible assets per share. However having bought some at 1.24 and 1.06, I think I have enough exposure to a company whose net asset value is less than it's intangible asset value.

Kay might be right buying now, who would really know, but it's a toss of the dice as there's nothing to suggest it's the actual bottom of a sustained downtrend, maybe right, maybe not.

Market sentiment is everything if you're sensitive to capital losses or gains. Whether or not MPG is a viable long term investment proposition, it should be clear and obvious now that the IPO was way over promoted and the current SP and its sustained down trend is a reflection of the market view.

Ignore the charts which show a clear and obvious downtrend (perhaps, but not convincingly approaching a bottom), seems like 'decide in haste, repent at leisure'. I will not rub anyones decision in the their face now or later, but it might be prudent to just observe for awhile and if it turns, buy the confirmed uptrend.

No one is saying MPG is a complete basket case, so eventually it will turn, or maybe not, for reasons beyond me. But buying into a long term confirmed downtrend is spitting in the face of the market, which usually is a good indicator of sentiment.

BAA

[Gonzo]

would all the funds needing to sell out of the NZX 50 index already have sold

[JoeGrogan]

I was stopped out of this last time, but i'm getting pretty tempted at these levels. However, i will wait until an update (if there even is one), when ol' Rigby says goodbye maybe?

[JeremyALD]

Funny that July last year the market was regaining some confidence in MPG after a positive investor strategy day. It all went downhill very quickly after the ASM.

Looking at the SP the market is saying that this year is as good as is going to get for MPG. A market cap of 139m for a company which has posted around 20m NPAT for three years straight does seem very low, however the chart is bloody ugly. Hard to know how many porkies John and Rigby having been hiding in the closet after years of BS. They've been promising cost benefits for years from all their optimisation work, so wonder if that will ever come to the pass.

Hard to believe how a company could be so much of a mess in a bull market (both for construction and the share market).

Wonder what BP thinks of the SP being at 75 cents lol.