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Online Share Trading

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PPC

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Supa
Contributor
Is this one starting to look attractive to anybody or am I jumping the gun? Any idea where support is? Thanks
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9 REPLIES 9
Rams
Super Contributor
Once you in this hole, its like concrete has been poured in, you cant get out!
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Rams
Super Contributor
On a more serious note, support is at 23.13. If does not hold, will then have broken thru this channel and next support is at 21.80 at 62% retrace
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Supa
Contributor
Thanks Rams, much appreciated.
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bob1_1
Contributor
Will the drop in sales not make new competition run away... making them still a major player?
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just_another_bo
Occasional Contributor
Sorry, but I do not have any of ppc shares in my portfolio and not sure if they will allow the competition to run away. What I do know is we need cement, and a lot off to rebuild all the damaged areas around the world like Japan. Maybe this is a good longer term share. Hope the share recovers soon.
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THRESHOLD
Super Contributor
Every country has a national cement producer. AND the cost of transporting the stuff has collapsed - so imports will tear into PPC'S margins. The strong Rand doesnt' help either. Not to mention new manufacturing competitors entering the SA market (watch for "government children" in these operatons.) Transport costs are through the roof (OIL, TOLLS etc.) Construction is deep in th doldrums(The banks don't lend - and there is no confidence in property,) and shows no signs of recovery - in fact its getting worse. Large scale projects offer ultra thin margins. The cost of energy (for kilns,, sintering, furnaces etc.) is through the roof and set to roar even higher. Labour is fractious and greedy. SO - Why would anybody wany to own PPC?
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saash
Super Contributor
What happened on 7 Jan that started this collapse? Must say, if it finds support here, it might be a nice retracement trade.
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sponono
Super Contributor
i think everybody who wanted to sell has already sold this stock + there is a clear buy divergence and 2 1/2 year support at 2300.
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Rams
Super Contributor
Besides the retracement supports, there may be other suppport levels. How do you choose the high probability supports....thats where Elliot Wave helps...sentiment indicator
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