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MGW - McGuigan Simeon Wines

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Cunning plan has worked to this point. Holding above old resistance. If it hold for 3 days I'll be happier, and will be wary of any surprises from AGM.....
 

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AGM ann out this afternoon and MGW was hammered initially, and then pulled back up. There was nothing new in the AGM that had not been ann before so it's quite bizaar that the market reacted at all. Disappointing really. Analysts comments tonight may decide it's future.

Finished right on what I hope is new support.
 

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Has NOT behaved how I wanted and is only just holding on for me. Any weakness here and I'm out.

How about the range over the past 2 days!!!!!

What it does tell me is that there are people in two camps out there. Neither has won the past 2 days. It's generally going up, so I expect the buyers to win. I hope.

$2.85 ish is a bit of resistance still, as is $2.95.

Interesting position at the moment. Not really happy with my buy at $2.90ish really. Was expecting a clean break up....
 

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Kennas they had a bit of bad press today, but unfortunatly i only caught part of it on the Australia network this morning. Sorry i couldn't get the whole story, but someone must have seen something on it.
 
CanOz said:
Kennas they had a bit of bad press today, but unfortunatly i only caught part of it on the Australia network this morning. Sorry i couldn't get the whole story, but someone must have seen something on it.
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Crazy C, I thought the info they provided at the AGM was just a rehash of their earlier guidance. Nothing new. I think analysts were hoping (like me) that they were going to provide a more upbeat forecast. I expected this because the sp had been slowly improving, but alas, not to be. From a TA point of view it's still in the zone for me. Not up or down. The next few days will tell.
 
Surprsing strength in the sp with many commentators bagging it saying that the wine glut is still going to hold it back. The breakout has been definately confirmed and looking great.

Sorry, this doesn't mine Uranium, or Zinc....
 

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Something dodgy going on at MGW today. Unusual rise for a wine maker throwing out grapes. Perhaps the takeover rumours are back in the wind. Yes, please!
 

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Or the droughts put a rosy picture on some of their whites, have they got vineyards in nice rainfall areas. Seemingly whites are up 30 percent as a result of the eastern states drought affecting wine producers.

Just a thought and I know nothing about MGW vineyard locations.
 
kennas said:
Something dodgy going on at MGW today. Unusual rise for a wine maker throwing out grapes. Perhaps the takeover rumours are back in the wind. Yes, please!
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I was charmed by this stock when I met Brain McGuigan in person 9 years ago. He signed one red wine for me, and one white wine for my daughter (She was only a few days old by then). I kept the wine for x years when one day I decided to drink them. Here you go, the MGW share price, down to the drain... Anyway, I put it in the bottom bottom draw simple the wine taste so good...
 
Finding some resistance at $3.30 ish, but good buying support over the past week keeping it strong. Notice the tails on all the candles the past few days?

Little bit of support developing at $3.15 ish, hopefully giving it the momentum to break through $3.30. Should be v g support down around $3.00, but I'm not sure if I'll hold if it breaks below $3.10 as I've CFD'd this. I'm hoping for an exit around $3.90, just under the next significant resistance level.
 

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I've decided to sell at $3.20 this afternoon. It traded under $3.10 today which I was not happy with. Looks like it might finish with a nice hammer but I'm just worried how this will respond to a general market downturn now. So, I'll wait again to see what the market's doing over the next few days. T/O will probably be ann tomorrow.
 
Something interesting seems to be happening with MGW price and volume over the last few days. No please-explain from ASX. No announcements. Any guesses?
 
Been little chat on this stock over the last few months. Any thoughts on this one's potential now that the wine exports are up again, I am thinking of jumping in although I am a newbie and have no idea
 
I sold my shares in MGW but at the moment it looks like it might be a value buy. Its not paying dividends though. The last straw for me was the Chairman's Comments after the last GM. They sounded completely negative. Not only that. For some time they had been going on about how the grape glut was reducing their profits. In this address he says that the fact that the vintage was going to be smaller this year would reduce profits. Huh? You can't have it both ways mate. I'm still watching it and I'd be interested in other people's opinions.
PS. I'm no expert.
 
I recon that below $2.2 this stock is a buy, with wine exports to increase this year and the drought looking like its over. Just wondering what other people think?
 
You would have to be taking a very long term view to consider this stock. They are deep in the red (!) and not paying dividends. They've gone from a wine glut to a wine shortage and they still seem to be struggling. Still they used to be good and if you've got the patience and the risk appetite, wine not.
PS. I'm no expert. But I do like to have a wine.
 
Fat Prophets slapped a sell on this last week after recommending it about $4.00. LOL One of their better picks!! Since they've put a sell on it, it's now on my radar for a turnaround! he he.

It's now hitting 10 year lows. They will probably either go into administration, or someone with some spare change will buy them out. The wine glut etc, is surely just a cyclic thing and they will eventually come good. The world needs wine! :alcohol:
 

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I thought MGW might be on the turnaround and bought on 16/7 for 2.22.
I sold on 8/8 at 2.04. Thank goodness I sold and only lost $1100. The shareprice now is 1.69 and still heading south. Could be quite a while before I get in again.
 
Gents, when it gets to 50 cents, lets all chip in a take 30% ish. Then we can drink the profits...or at least have some nice real estate to retire on.

One to watch for a turn around I think. Or, if we notice some unusual volume, a takeover perhaps. I wouldn't touch it until I see some higher lows and highs at this point however....
 
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