WOR - Worley Limited

[PinguPingu]

Up more than 5%, short squeeze? Not particularly high volume either

 

[skc]

Up more than 5%, short squeeze? Not particularly high volume either

Some one has decided to buy all the mining services today. Could be real buying, or covering shorts, ahead of the holdiays.

MND, UGL, BLY, ALQ, FWD, BKN... all up 3-7%.

There's no real news affecting the whole sector as far as I know.

 

[dlineinvestor]

More upside then downside you reckon ?
In a strong support zone, how many of you would top up here ...
A good company but mining has to turn around.

 

[VSntchr]

More upside then downside you reckon ?
In a strong support zone, how many of you would top up here ...
A good company but mining has to turn around.

It copped a downgrade which caused a bit of selling this week.
Not a sector I'd like to be in, but you'd think these guys are one of the stronger players...although the downgrade was related to the fact that the price might already have this factored in

 

[dlineinvestor]

Cheers, VS
Good company, good prospect for a 10 bagger, lot's of "buts for now.
We'll see if the price moves along, if we are in a market recovery.
IMO in value now, would be nice if there was a way to see if the "big's are accumulating ?

 

[piggybank]

More upside then downside you reckon?

I cannot see how a support area from 6/7 years ago is relevant now, maybe 2/3 - A lot of things have changed new players, new dynamics, etc

However, I could be wrong and it may take off tomorrow and I would end up with egg on my face. Given that it is still heading downwards, I would wait until it has definitely turned the corner.

 

[skc]

Cheers, VS
Good company, good prospect for a 10 bagger, lot's of "buts for now.
We'll see if the price moves along, if we are in a market recovery.
IMO in value now, would be nice if there was a way to see if the "big's are accumulating ?

You are being a bit optimistic?

 

[pixel]

Cheers, VS
Good company, good prospect for a 10 bagger, lot's of "buts for now.
We'll see if the price moves along, if we are in a market recovery.
IMO in value now, would be nice if there was a way to see if the "big's are accumulating ?

According to Pulse's "Broker Report" for the period since September 1st, the biggest net sellers have been Deutsche Bank, Macquarie, and Morgan Stanley, selling more than 1 Million shares each, for a combined net total of $61M.

During the same period, UBS, JP Morgan, and Goldman Sachs were net buyers to the tune of over $54M.

Comsec clients have also been buying more than selling.

 

[notting]

Had a killer week last week and ran hard on a relatively pathetically small oiler contract win in rate cut Canada!!
People waking up today! But not fully awake yet.

 

[pixel]

Had a killer week last week and ran hard on a relatively pathetically small oiler contract win in rate cut Canada!!
People waking up today! But not fully awake yet.

It's possibly the threat of a Class Action that spooked a few holders.
Since late November, clients of Credit Suisse, Shaw, and Deutsche have been major net sellers, but ITG and Merryl Lynch were buying. If the Market has serious concerns, the Biggies are usually all selling.



The chart seems to suggest a bottom has been found; it even has the potential to become a Double Bottom. I also notice the Bullish Divergence in the Momentum window. On that basis, and seeing sp has returned back into the channel, I'm again Long a small position.

 

[notting]

Well, it is always a little hard swimming against the tide toward a dividend payment, all be it the smaller one of the two annual payments.
Better hope they don't cut it and I'd be looking to get out just before it if I were long.
Oil and Gas services as blue chip as WOR is, is not a space to be long, well, unless you bought this morning. Some smart people seem to have!
Good day!

 

[pixel]

It may have taken four attempts, but resistance seems to be broken at last.



Waiting for the pullback, testing the breakout level. If that holds, I'll top up.
The open gap above makes a good first target. Stop if the break level doesn't hold.

 

[peter2]

You got your pullback, but the test failed. Now I see signs of demand. If price fills that gap (12.00) then the best RR is to buy now.

This is most definitely a reversal buy in a badly damaged sector. I'm being very cautious.
As I write this there is plenty available at 10.10 and I'll buy a few for the Pav Mom Portfolio.
This is called pre-empting the 2nd break-out.

 

[pixel]

If at first you don't succeed ...
The rising oil price aside, I have no idea what kind of fundamental change might justify the sudden rally. Technically though, the Harami Cross on Tuesday-Wednesday was a give-away. And if I had been awake at the time, I might even have noticed and doubled-up at the time. Oh well, 15% over 2 days is a useful profit even for a single-size holding

 

[pixel]

nothing moves in straight lines
but waves offer some reasonable swing trades.

 

[notting]

What's it going to do next after showing uncanny strength?

 

[pixel]

What's it going to do next after showing uncanny strength?

View attachment 66551

Hi Notting,
where do you get your data? The next-to last candle and the earlier one on March 19th cast a much longer shadow than anything I've seen.



That aside, I see a sequence of Higher High. Higher-Low, suggesting some kind of longer-term recovery.
Currently though, I don't hold a WOR position, neither long nor short.

 

[notting]

Hi Notting,
where do you get your data? The next-to last candle and the earlier one on March 19th cast a much longer shadow than anything I've seen.
.

It's doubled in price since mid feb.
Guess that's where I comen from

 

[leyy]

I have taken a position in WOR on the recent dip entry $13.85.

Next price target is $19.00 where there is some resistance.

It's been on an uptrend since early 2016, and has had a good price recovery from circa $3.00 as the business has transformed significantly over the last 4 years. Gross margins and EBIT margins are increasing and cost reductions over $500M annually. Market sentiments have improved and the business is positioned well to grow.

Business has a very strong management team with both the Chairman John Grill having been with WOR for around 40 years and has close to 28M stock worth about $500M and the CEO/MD that has been with the business with over 20 years.

 

[luutzu]

I have taken a position in WOR on the recent dip entry $13.85.

Next price target is $19.00 where there is some resistance.

It's been on an uptrend since early 2016, and has had a good price recovery from circa $3.00 as the business has transformed significantly over the last 4 years. Gross margins and EBIT margins are increasing and cost reductions over $500M annually. Market sentiments have improved and the business is positioned well to grow.

Business has a very strong management team with both the Chairman John Grill having been with WOR for around 40 years and has close to 28M stock worth about $500M and the CEO/MD that has been with the business with over 20 years.

I haven't taken a detailed look but a quick comparison shows that MND is a much better managed company with strong financial position than WOR.

It's been winning too many jobs lately. Got to keep an eye out on how they'll do with those contracts. Debt position is pretty high.