GRG:Price warming up!We are at a psychological zone and I expect the bulls to come in and defend the zone. Looking to target the next zone at the 2200 zone for a RR of 2.97.
Greggs
Greggs Stock - GRG StockBased on Technical analysis, the market seems bearish, so the idea is to invest in the direction of the major trend: go short.
The problem is that it seems that 1.2 pound worked as support and prices have started a new rally. (too risky to go long now).
the stock might go up due to the current government stimulus.
Greggs LongSL:1782
ENTRY:1907
TP:2000
SUPPORT: 1730
RESISTANCE: 1882
If breaks resistance with bullish confirmation then LONG
Greggs Still Holding At £20Last post: See link below.
Review: Price experienced a deep pullback and came down to find support at £20.
Update: Price is currently still holding at £20 which is proving to be a strong round number.
Conclusion: We want to see price gather some strength and climb away from the round number and eventually break above the previous high.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Greggs - Buying the dipBUY – GREGGS (GRG)
Greggs plc is a United Kingdom-based bakery food on-the-go retailer. The Company's products and services consist of a range of fresh bakery goods, sandwiches and drinks in its shop.
Fundamentals
The success story of Greggs is quite remarkable with the shares rising significantly over a 5-year period. The baker recently delivered an ‘exceptional trading performance’, total sales were up 14.7% and like-for-like sales were up 10.5%. The introduction of vegan sausage rolls has been a massive success and no doubt brought new customers to stores across the country. The recent decline looks like a decent opportunity to buy.
Best Broker Target Price: 2300p (UBS 28/08/2019)
Worst Broker Target Price: 1780p (Berenberg Bank 16/05/2019)
Technical Analysis
The long-term chart of Greggs shows a spectacular uptrend. The recent dips from the highs of 2496p has been uncharacteristic and could present a fantastic opportunity to buy. Corrections are normal for share prices and following this recent bout of profit taking the shares now look more attractive. The close above the 10EMA on the 28th August 2019 could be a signal of bullish momentum returning. A move back to the highs to reassert the long-term trend is expected.
Recommendation: Buy
Buy between 2000-2100p
Stop: 1895p
Target: 2495p
£20 Round Number Supporting GreggsLast post: August 13th 2019. See chart .
Review: Price was on the decline and was approaching £20.
Update: Price has now found support at the £20 round number.
Conclusion: We want to see if the support zone holds and pushes price back up. If it does, then we may see some long opportunity setups appear in the near future.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Greggs Experiencing A Deep PullbackLast post: July 28th 2019. See chart.
Review: Price was trending up nicely and was above the 50 simple moving average.
Update: Since then price has moved down through the 50 simple moving average and is heading towards the £20 round number.
Conclusion: We need to see if any support levels will hold price and help it reverse back to the upside. Otherwise, we may still see further moves to the downside.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Greggs Is Taking A BreatherLast post: July 19th 2019. See chart .
Review: Price was in a nice linear trend.
Update: Since then we are seeing price pulling back as it may be exhausted from the strong trend.
Conclusion: As long as the pullback is not deep we should see a resumption of the trend.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Greggs Continues To Fly HighLast post: June 6th 2019. See chart .
Review: Price broke above the previous high.
Update: Since then we have seen this stock continue to move higher.
Conclusion: Price is in a nice linear trend and should continue to the upside for now.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Greggs Pushing HigherLast post: May 20th 2019. See chart.
Review: Price was moving towards a resistance level.
Update: Price has since broken out and continues to look strong.
Conclusion: We want to see price continue to make higher highs and higher lows.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Greggs Growing in StrengthThis stock is featuring for the first time on our TradingView blogs.
Current setup: Price is still looking strong for this stock.
Conclusion: Once price breaks and closes above the previous high, we can look for long opportunities.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
