When I wrote my post of September 15th  ‘Hargreaves Lansdown- more selling, signal strength now STRONG’, I was unaware of the reason for so many share sales.

The reason directors of Hargreaves Lansdown (HL. 182p)  have been selling is that this is the anniversary of their listing (see Citywire article here), and the lock up for part of their shares falls away.

This in my mind justifies the share sales as the directors are probably diversifying their financial assets. Although you might question whether they would all rush for the exit if there was good news ahead!

As a result of this I believe these sales have a lower value to investors, and I am moving the Signal strength indicator from STRONG signal to WEAK signal.

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