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BIN - Bingo Industries

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Good morning all
I am wondering if the share still looks bearish
 
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 said:
This looks like a very interesting move...more bullish I should think. A share buyback won't do it any harm either.
Click to expand...

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
 
Reactions: 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.
 
tech/a said:
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.
Click to expand...

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

 
tech/a said:
Hmmm
I don’t see a lot in this
Click to expand...

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
 
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.

 
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.

 
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 said:
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?
Click to expand...
In an out in July, not holding long these days, if all goes well that is !
 
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%.
 
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