Xstrata, HBOS
Xstrata - continued sell pressure though end of day was buy pressure but that could just be end of day effects. Less trading volume than day before and share price declined. I would need the price to reach about 18.41 Friday to justify holding the share another trading day. Noted big aftermarket buy orders down at 16.00 - with expectation of increase? Though I would not have been aware of this when making decision about 2.30pm. Price was 18+ on 1.10 so could return Friday. A number of orders have been placed low but equally a lot of high sell orders. Currently more buy orders so to get them filled they will ultimately need to raise their offers.
The decline in price is backed up by the sell pressure which is at odds with my TA. I cannot dismiss the TA in itself but it is becoming more regular - I am wondering if some of the signals such as Stochastic are more for trend and in terms of next day I need to focus further up (20-30) where buying is underway? Test this out. Decision is to hold share to sell out by recovering commission - so wait for price to recover to about 17.45. If not then will have to take some loss but less than stop loss. If there is sustained buy pressure I will stick with it if it rises about this level but will sell as soon as drops again. Will also look to purchase another stock.
HBOS - noted decline in trading volume 2.10 yet biggest climbing share of the day. Stochastic buy signal triggered and released! Closing price 1.70. Buy as low as 1.63 - concern any price lower may not recover on the day. Only need about 5p profit per share to make percentage requirement. Will watch buy and sell pressures to determine best exit point. End of day pressure is downward but would need to see situation around 9.00am after the end and start of day frenzies have subsided.
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