ABB - ABB Grain

[reece55]

Interesting daily price action from ABB. Jumped out of the blocks, looks like a few momentum traders initiated positions on the break of resistance at 9.48 and then the sellers came in at the end of the day.....

As they say, from failed moves come quick moves, wouldn't be surprised to see a bit of selling pressure from here.... Anyone playing the Ag stocks ATM???

Cheers

 

[Nick Radge]

Why wait for $9.48? In on todays open. But you're very correct - sellers came out so I won't be hanging around too long.

This post may contain advice that has been prepared by Reef Capital Coaching ABN 24 092 309 978 (“RCC”) and is general advice and does not take account of your objectives, financial situation or needs. Before acting on this general advice you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

 

[reece55]

Why wait for $9.48? In on todays open. But you're very correct - sellers came out so I won't be hanging around too long.

This post may contain advice that has been prepared by Reef Capital Coaching ABN 24 092 309 978 (“RCC”) and is general advice and does not take account of your objectives, financial situation or needs. Before acting on this general advice you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

Nice move Nick, quick off the mark there, you must have participated in the pre-open because she shot up quickly....... I missed the action today unfortunately, busy at work until about 3.... AWB on the other hand, mmmm, looking strong......

Cheers

 

[Rainmaker2000]

I used to own ABB as a bit of a value/asset play with consolidation/growth potential..........the current price is a little hard to explain in this market and can only be justified if a takeover or merger is imminent

 

[Nick Radge]

More **** than class on that one I'm afraid. Stop at b/even now so it may come to nothing.

Talking of grains, how those moves last night!

 

[awg]

ABB sp has taken a fall over the last few days, again this morning.

not sure whether this is to do with grain price oscillations

or some other reasons

any thoughts on what is occuring?

tony

 

[schoey]

New here, and to trading, so take it easy on me

Any ideas on what the Viterra takeover might do price-wise? Does a takeover like this always result in an increased share price or could it go either way?

Ideas on resulting price?

 

[ricee007]

New here, and to trading, so take it easy on me

Any ideas on what the Viterra takeover might do price-wise? Does a takeover like this always result in an increased share price or could it go either way?

Ideas on resulting price?

Welcome. I think your boat departed a while ago though.

Offer was initiated when ABB was around $6.50 or so, with an offer value of $9.40 or so.

However, final approval has been given by everyone, and the stock is suspended. I don't think it'll trade again under ABB.

If a company is "bad",a takeover bid may be less. For example, Citibank may be trading at $5, but if it was a chance to go bankrupt... someone offering $4.50 per a share may complete a take-over.

However, if someone wanted to buy MQG, CBA out they would need to offer more than $50. BHP more than $40, etc.

GENERALLY, it's a premium (25% or so).... but, not always.

Resulting price? going to assume around $9.35

 

[schoey]

Offer was initiated when ABB was around $6.50 or so, with an offer value of $9.40 or so...... Resulting price? going to assume around $9.35

Ahh all good then, I have a 'friend' who may have shorted it @9.40 and was a bit worried...

Next stupid question, what happens with ABB now, if I owned shares do they just change names?