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SUN - Suncorp Group

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Re: SUN - Suncorp-Metway

kennas said:
Chart looks interesting to me at the moment. Downtrend seems to have been halted, now going sideways, found some support, and coming up to some significant resistance again. If she gets through there may be the start of an upward more. :2twocents
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Pushing up against that line. Has traded above, but come off. Lots of resistance there. Have to assume that if it goes through the breaks will come off.

As I've been saying since about 3700 on the XAO though, the market's run pretty hard and needs a decent rest...
 

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Re: SUN - Suncorp-Metway

Potential breakout intraday, but market falling over a bit so might go with it and fail again. Encouraging. With it winding up for three months there's a pretty high probability of a decent run, if on volume and the overall market doesn't tank. Lets see how she closes....
 

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Re: SUN - Suncorp-Metway

kennas said:
Potential breakout intraday, but market falling over a bit so might go with it and fail again. Encouraging. With it winding up for three months there's a pretty high probability of a decent run, if on volume and the overall market doesn't tank. Lets see how she closes....
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Hey kennas do you know why sun is going up today? this stock has always been a risky hold for me, so looking to sell at a good price.
 
Re: SUN - Suncorp-Metway

nawshus said:
Hey kennas do you know why sun is going up today? this stock has always been a risky hold for me, so looking to sell at a good price.
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The technical break through $6.50 is all I can offer. There would be a few traders looking at the $6.50 level as key and would have started buying in on the break.
 
Re: SUN - Suncorp-Metway

nawshus said:
Hey kennas do you know why sun is going up today? this stock has always been a risky hold for me, so looking to sell at a good price.
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But the sun goes up every day (and comes down too). :p

..Probably the brkout from the range, and trying to fill the gap. Volume is decent too.
 
Re: SUN - Suncorp-Metway

Disappointed with that false break through $6.50 and it's just meandered sideways against this resistance zone which has turned into $6.50-6.75 ish. Higher low agin making it look pretty prospective for a decent break at some stage.
 

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Re: SUN - Suncorp-Metway

Broke up again a few days ago, consolidated and has now pushed higher.

Probably just due to overall market strength, but it might well have bottomed.

Fundamentally seems to be a gobbler, but longer term technical picture looks pretty good until she drops back down through the new support.

Volume doesn't give me any confidence.
 

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Re: SUN - Suncorp-Metway

Respected support since the last post and continued up.

I suppose it bloody well should have considering the market.

Not as exciting as some of the 100-300% resources gains but ok nonetheless.

Volume not very impressive.
 

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Re: SUN - Suncorp-Metway

Agree the technical picture is looking promising here, Kennas, apart from the volume of course.

Glad to see it appears to have hit last price before the trading halt and capital raising earlier in the year too!
 
Re: SUN - Suncorp-Metway

Some speculation that private equity was running the ruler over SUN in the news yesterday probably accounts for the spike, but they hve a new CEO starting on 1 Sep, so not sure how any approach now would be handled.

Company really is in limbo. Do they sell off the insurance, sell off the banking, or just sell off? :confused:

Happy with the break up! (circled) :)

For now, market's toppish.

Edit:

This was the news article:

J.C. Flowers runs its eye over Suncorp
 

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Re: SUN - Suncorp-Metway

kennas said:
Some speculation that private equity was running the ruler over SUN in the news yesterday probably accounts for the spike, but they hve a new CEO starting on 1 Sep, so not sure how any approach now would be handled.

Company really is in limbo. Do they sell off the insurance, sell off the banking, or just sell off? :confused:

Happy with the break up! (circled) :)

For now, market's toppish.

Edit:

This was the news article:

J.C. Flowers runs its eye over Suncorp
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Another spike up today.

ANZ's name also linked up with SUN, after Mike Smith commented about bulking up ANZ's domestic banking operations. (Yesterday's AFR).

Was lucky to get a low risk position in on 23 July when the gap up was mostly filled. :D
 
Re: SUN - Suncorp-Metway

One thing for certain i got wrong over the last 9 months, is not buying anywhere near the amount of shares i really should of been buying....i think i brought like 700 bucks worth of SUN at like 4.70 :rolleyes: silly really.

What was i thinking :dunno: the doom and gloom was so heavy back then. :(
 
Re: SUN - Suncorp-Metway

So_Cynical said:
One thing for certain i got wrong over the last 9 months, is not buying anywhere near the amount of shares i really should of been buying....i think i brought like 700 bucks worth of SUN at like 4.70 :rolleyes: silly really.

What was i thinking :dunno: the doom and gloom was so heavy back then. :(
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It was indeed. I almost cut my losses and sold once they halved in price from $9 at one point fearing the drop would continue...

I wish I didn't stick to the advice of never averaging down... but it seems people vary in their opinions regarding such recovery tactics.
 
Re: SUN - Suncorp-Metway

matty193 said:
It was indeed. I almost cut my losses and sold once they halved in price from $9 at one point fearing the drop would continue...

I wish I didn't stick to the advice of never averaging down... but it seems people vary in their opinions regarding such recovery tactics.
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As i posted before...i really didn't average down enough, but thank (whatever) that i did average down in all my key stocks, as im now in profit in most and close to break even in the others...my SUN break even is about $9...SUN was my worst entry and biggest % looser.
 
Re: SUN - Suncorp-Metway

These past 5 months SUN has been my second biggest SMSF winner - not sure if that's a positive because other holdings have done better - but my conservative nature has less $$ invested in them.
 
Re: SUN - Suncorp-Metway

ANZ's attempted takeover of Suncorp late 2008 was thwarted by the last minute decision of the Government to establish a bank guarantee. Now that we are entering a new phase of the market and now that ANZ has completed their record-breaking share placement it is not unreasonable that Suncorp become one of the takeover targets.
 
Re: SUN - Suncorp-Metway

Does anyone know if Suncorp is currently (one of the) highest dividend yielding stocks?

Today the div yield is more than 9%
 
Re: SUN - Suncorp-Metway

SuzSmi6 said:
Does anyone know if Suncorp is currently (one of the) highest dividend yielding stocks?

Today the div yield is more than 9%
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Forget the div yields u get at the stock and financial sites as they are based on divs over the last year...in general u need to look at the last div paid and simply factor that forward, and even then u may end up disappointed.
 
Re: SUN - Suncorp-Metway

The Price to book (PB) ratio on this stock is .66 --- .66 ????????? That makes this stock dirt cheap but as you have said .. that data is probably inaccurate like that stupid - 9% dividend figure ...

Hard to calculate an accurate Price to Book manually though ...

:banghead:
 

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