BIN - Bingo Industries

[Miner]

Very very interesting.
Gap up on strong volume into approx the center of the Gap
on its very big fall.
I expect this will sort supply out in the next day or so.
Currently off from its high today of $1.85 to now $1.715.

An opportunity for those that want to get out to do so
with a little more $$s. Or hold on?

Personally If this is truly bearish I think this is all pretty
normal with price trading into the gap.
The remaining bears who were caught by surprise will come
out.
I expect the original gap to remain dominant for some time.

Queuing up at round numbers---$1.70!!

Good morning all
I am wondering if the share still looks bearish

 

[tech/a]

Well I think now that $1.70 was the earliest I could have set myself short on a CFD.
That's when I had a look!
But I didn't so will watch.
Stop would be $1.85c

 

[Ann]

Good morning all
I am wondering if the share still looks bearish

Why the Bingo Industries share price rocketed 27% higher today

This looks like a very interesting move...more bullish I should think. A share buyback won't do it any harm either.

 

[barney]

This looks like a very interesting move...more bullish I should think. A share buyback won't do it any harm either.

Tend to agree ….. The Company has openly suggested they will be buying back up to $75 million worth of shares …. If it gets shorted, the Sellers will need to be pretty resilient to overcome that sort of resistance for anything other than a short term/quick return …… Risky option given the recent price action

 

[tech/a]

Hmmm
I don’t see a lot in this
Suggesting that a Possible acquisition
Could lead to a long term (10 year)
Benefit to share holders is less than convincing.

 

[Ann]

Hmmm
I don’t see a lot in this
Suggesting that a Possible acquisition
Could lead to a long term (10 year)
Benefit to share holders is less than convincing.

They might be able to spin it into an environmental 'green' stock. Anything with a tinge of green, even mining companies now will have a good chance of being picked up by fundies and marketed as an environmental stock.
Looking at the EquiVolume chart, it looks like there is a massive base at $1.20 and with a buy back, no doubt they will get it back above the gap. Above the gap there doesn't seem like too much selling pressure until you get to $2.90 to $3.20. With a buy back it shouldn't suffer too badly with selling pressure.

This chart is delayed so today's action brought the price up to $1.67

 

[barney]

Hmmm
I don’t see a lot in this

That's why we have a market tech …… BIN has been, and will be an interesting example wherever it ends …

The bottom line is, for the point of the exercise … it's not about being right … it's about how, as a trader, we control the situation if we get it wrong

I don't hold BIN so am pretty relaxed with my assessment which has been, so far not bad ……

Some of my recent "real money punts" have been a bit less effective …….

I am happy not to disclose those at this point in time

The current BIN thread will be a valuable learning tool whichever way the SP continues

 

[tech/a]

A waste management company with the code BIN
Perfect

 

[barney]

A waste management company with the code BIN
Perfect

It is quite brilliant isn't it …… Their marketing guys need a pay rise

 

[Ann]

It is quite brilliant isn't it …… Their marketing guys need a pay rise

And we are probably all reading the name of the company as bingo when it may actually be BinGo

 

[jjbinks]

i thought it was bi non government org

 

[peter2]

BIN has filled the chart gaps and is looking much better. My hats off to the investors who recognised that the first huge gap was an overreaction. Their continual demand for the shares since then has been well rewarded so far with further looking likely.

 

[Trav.]

This one popped up on my daily scan today and I see that peter2 is all over this.

I will be looking for a BO trade next week @ $2.40. Target is interesting as I can see some resistance at $2.55 but not 100% sure about that as it goes back to August 2018, hopefully we can squeeze a bit more out of it than that.

 

[Trav.]

BIN closed above $2.40 today so I will look for an entry tomorrow

 

[just_jay]

Nice vol in last 2 days. Break of resistance at 2.41 and recent trading range. Hopefully not too much resistance at 2.48.

 

[Boggo]

Not many "new" signals appearing on the weekly All Ords scan.
Midweek scan did pop this up so I bought in yesterday arvo. It's showing signs of interest but there have been a few people offloading too.

(click to expand)

 

[barney]

Midweek scan did pop this up so I bought in yesterday arvo.

Well done Market seemed to take a fancy to the AGM Report on Wednesday.

Did you get in back in July @Trav. or did that gap up on 17th keep you out?

 

[Trav.]

Well done Market seemed to take a fancy to the AGM Report on Wednesday.

Did you get in back in July @Trav. or did that gap up on 17th keep you out?

In an out in July, not holding long these days, if all goes well that is !

 

[Dona Ferentes]

i thought it was bi non government org

I hoped it would be BinGone (from outside neighbour's house)

 

[Dona Ferentes]

A few things happening, as BIN hits a high for the year.
- some $54m worth of shares in Bingo Industries ... came out of voluntary escrow on Christmas Eve. These shares are held by major Bingo shareholder Ian Malouf, who was given a 12 per cent stake in Bingo as payment for the acquisition of his Dial A Dump Industries and will see his stake progressively unlocked. “Shares held directly by Mr Malouf are subject to escrow over four equal tranches to be released nine, 12, 18 and 24 months post-completion (of Dial a Dump merger),” Bingo said in a statement. The release of 18.5 million shares on 24 December represented tranche one, the waste company added..
- and, at Nov AGM, the company advised that its Managing Director and Chief Executive Officer, Mr
Daniel Tartak, intends to increase his economic interest in BINGO from 15.19% to 19.83%.