Hi guys, throwing up my first chart. Don't bite my head off..
Disclosure - my TA is only at infancy stage and can not be taken to seriously.
Both patterns looked to be in a bearish formation.
We had a big shake out on the 27th, followed by a good announcement on the 28th which saw good volume buying. Was a well timed shake out, which would have nabbed who ever doing it some solid cheap shares.
The volume dries up going in to the descending triangle, with a solid break out on big volume!
Looks to have done a reversal from here with 27c being the new support line.
Below we have the same story again with the shake out and volume drying up into the big volume break out.
Also showing a reversal here with 27cents the new support line.
MACD -crossing at the bottom
Stochastic - turning up
Looks like where at a cross road here, i wouldnt say its turning up as we are being capped. But i do think we have found a higher low. Ultimately when who ever is holding this down wants to let it run, it will run. Till then were just pawns on the chest board.
Any feedback on the charting is openly welcome, as im keen to learn!
BGS Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
