It's easy to point this out in hindsight but #BOO is a classic example of why I avoid downtrending stocks.
What is cheap can always become cheaper. In just over a year the price has gone from 400p to 100p, or -75%.
back from lunch and my watchlists are all bloody awful. When judged against the Daily Moving Average I use I see like 98% of my lists are below it (Red Light)
I need a new watch list right now, stat!
You wouldn't know this looking at the indices, but:
- 499 of the AIM All-Share's 738 trade below its 200 EMA
- Only 116 of the FTSE 250 print above it
- More than half of the LSE (1,126 of 2,056) is below it
The market is weak. It's being held up by a small number of stocks.