bur breakouttarget 20 by webbush (pretty sold manager and on blooberg gettng promoted to institutions 68% holding wont sell quick gives lot of support)
BURL trade ideas
BUR Burford Capital Limited Options Ahead of EarningsAnalyzing the options chain and the chart patterns of BUR Burford Capital Limited prior to the earnings report this week,
I would consider purchasing the 15usd strike price in the money Calls with
an expiration date of 2023-10-20,
for a premium of approximately $1.60.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
BUR: Further Short Term Weakness/Longer Term BullishIt looks like we are in phase B of an accumulation structure.
Phase A characterized by stronger impulse moves has supply absorbed. This was evident by the large moves we saw early on. As we enter Phase B, the volatility shakes out, where longer term traders start buying. This is evident by weaker impulse moves and shortened thrusts. Typically we should see going into Phase C a spring type action (marked by a sharp sell off) with a higher volume signature indicating further absorption, followed by a reversal reaction that has lower volume (signs shares have been accumulated).
Fundamentally, the shares are still cheap and according to the CEO the market value of the portfolio is somewhere in the 3 bn ex Petersen(while the enterprise value is 2bn). A good catalyst for a short term weakness is the upcoming earnings call. Its possible that the immediate reaction will be negative (based on lower progress in cases) but long term prospects for the company will remain high post digestion of the news. A secondary negative reaction could be the loss of the Petersen case or failure to be able to collect the payout (which I think is more likely).
BUR - Strong Daily BreakoutA very strong breakout out of a falling wedge which is shown with dotted lines
I think price will stay above the dashed horizontal line
Strong trendline in solid white
BUR: (Descending Triangle) Continuation Pattern Almost Completedstructural notes:
- more and more institutional investors are entering (pension funds and other long term money managers ) confirming wyckoffian analysis
- more sell side analysts are initiating the name at upside buys (meaning they can add in their private wealth accounts)
- some strong catalysts coming up that can uplift the name (retail investor call in mid june)
technical notes:
- the descending triangle is not complete but I think it will be soon; have to buy the upside breakout
- the upside target of the descending triangle points to the initial target of the first point and figure price target of 17, this would put a price on burford at about 2 p/b (which is comparable to other names - but doesn't necessarily mean it will stop there- some value holders will sell tho)
BUR: Point and Figure TargetSetting a point and figure target based off the Wychoffian consolidation.
Minimum target of 17, Optimal Target is 20.
Fundamentals of Burford remain very good
Burford: The Wychoffian WaySpring has formed, preparing for the break out; PT 22
I am expecting to see
- a more strong move up past 9.30 (re-establishing a support there)
- some consolidation at 10 (re building of the spring)
- a strong push to 22
Burford: Building a Cause the Wyckoffian Way
Burford consolidation half-way through according to the Wyckoff Re-Accumulation Framework
More large institutions entering the position (fundamentally)
A lot of supply removed from the market recently
Earnings coming up in March which can be the catalyst for jumping the creek and further accumlulation
BUR survives the squeezeFollowing a huge bear attack LSE:BUR has been works from a new baseline of 735p, the consistent SP improvement over the past three weeks has established a strong trend to recovery. I am long to target price 985p
LONG
Entered a thin zone - price can move up rapidly hereBroken out from the distribution area and now moving up through an area where price rapidly fell. Almost a gap but not quite - very thin volume & the advances upward towards the 1350 area could be quite swift.
Burford BreakoutBurford has broken out from its post-Woodford drop. Clean air up to the resistance and fib area, around 1050-1100p. I'd expect a few early opportunists to sell out here though, and have it retest the breakout area.
Burford Capital In ConsolidationLast post: June 6th. See chart .
Review: Price was testing the support level.
Update: Price has since come down to test the support level which includes the 50 simple moving average, and is consolidating between the support and resistance level.
Conclusion: Applying patience and waiting for price to break through resistance before considering long trades again.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
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Burford Capital Attacking ResistanceLast post: May 29th. See chart .
Review: Price was holding around the support level.
Update: Price bounced off the support level and is now approaching a resistance level.
Conclusion: We need price to break the resistance level before looking for long opportunities.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
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Burford Capital Displaying Some Strength AgainLast post: May 24th. See chart .
Review: Price was hovering around the support/resistance level.
Update: The current bar has found strength to move back above the resistance level.
Conclusion: Standing aside until the high at £16.30 has been broken as this will confirm a continuation of the bull trend.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
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Burford Capital Peaking Above ResistanceLast post: May 23rd. See chart .
Review: Price dipped below the support level.
Update: Price has started to move above the resistance level.
Conclusion: We are still waiting for a breakout of the high.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Burford Capital Currently Below SupportLast post: May 22nd. See chart .
Review: Price was testing the support level.
Update: Price has broken through support but we will have to see if it closes below this level when the market closes.
Conclusion: We have to see how the trading day ends and are still waiting for a breakout of the high.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Burford Capital Testing SupportLast post: May 16th. See chart .
Review: Price was looking strong after breaking through the resistance level.
Update: Price is retesting that resistance level turned support.
Conclusion: We now need to wait for price to break the previous high to confirm the bullish trend will continue.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
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Burford Capital Breaks Out Making New HighsLast post: May 4th. See chart .
Review: Price was approaching the strong area of resistance and we were waiting for price to breakout.
Update: Price has now broken out of that resistance level.
Conclusion: We need a breakout of the previous high before we can look to enter.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
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Burford Capital Nearing A BreakoutBurford Capital is still below the all-time high resistance which we highlighted in our previous post here, but it is still showing signs of potentially breaking out soon.
Since price hit the support level in March this year, it has gradually been pulling itself up. If price does not break out soon then we
may see it go into a period of consolidation. How long a stock stays in consolidation for is unknown and the best way to trade them is
to wait for price to breakout either to the upside or the downside.
As price is not too far away from the all-time high we may see a breakout soon and today's bullish bar was fairly big.
We will now have to wait until next week to see if the bullish momentum can continue.
Once we do get a breakout there will be opportunities to go long for those who have been patiently waiting.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Burford Capital May Be About To BreakoutBurford Capital is still advancing since bouncing off the support level.
Price may not move fast in a direction but as long as it is consistent then we just need to follow our plan.
The plan in this case is to be patient and still wait for a break of the resistance level before entering a long trade.
As you can see, the all-time high is not too far away so we may see an opportunity very soon.
More updates to follow.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Burford Capital Moving Up AgainBurford Capital is showing signs of potentially breaking out after bouncing off the support level
which I mentioned in this post.
This is what we want to see after price breaks out of consolidation, a retest of the consolidation zone then a bounce off that zone,
then a move in the direction of the main trend.
We now just need to confirm a bullish trend may unfold by waiting for a breakout of the resistance level highlighted.
Price looks to be travelling up at a good pace and we may see that breakout soon so it is just a waiting game for now.
Any comments or questions, do not hesitate to leave them below.
Sublime Trading
Burford Capital Update on the support levelBurford Capital is still hovering around the support level which I mentioned in this previous post.
It is normal for price to retest the consolidation zone but it is unclear for now whether price will return back to consolidation
or bounce off that zone before moving higher.
The time in which this may happen is not certain right now but what is certain is that we must stand aside.
Remember we are still waiting for the breakout of the 19th March high at £15.38.
Until that happens we need to look for opportunities elsewhere.
Any comments or questions, do not hesitate to leave them below.
Sublime Trading
