BSL 2.86% $20.52 bluescope steel limited

BSL Chart, page-48

  1. 41 Posts.
    lightbulb Created with Sketch. 8
    This is REALLY interesting and exciting.... Looking back throughout the history of BSL and its charts (2002-19), using only the gann swing formula for weekly charts, you can get a winning trade ratio of 14 wins and 7 loses. Then to increase your win loss ratio you can use this method combined with a retracement price analysis after the gann entry signal has been activated. If it retraced less then 50%, then you could safely assume it would rise 100% of its previous trend as stated by ganns rules, in which case, that would be your new entry point and improved the win loss ratio and amount of profit. totalled 8 wins vs 3 loses and Avg profit was 30%, avg form of resistance to the price extensions was 161.8% to 250%. In short, I like the look of this right now and if it breaks above the 14.71 come tomorrow (which i think it will) or trading sideways then breaking above 14.71 without breaking below that 13.39, then it should continue strongly up and be a strong buy. I'm no way sold on steel at all, but this company EPS is due to increase drastically by 50% come 2021, this will only help support the share price. i will wait to see what happens tomorrow before i buy.

    all IMO. DYOR.

    https://hotcopper.com.au/data/attachments/1847/1847124-0766320fb4d6d8f6e1ce4b7a7d9ea199.jpg
 
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Last
$20.52
Change
0.570(2.86%)
Mkt cap ! $9.030B
Open High Low Value Volume
$20.23 $20.56 $20.18 $40.14M 1.957M

Buyers (Bids)

No. Vol. Price($)
1 4944 $20.44
 

Sellers (Offers)

Price($) Vol. No.
$20.58 14967 1
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Last trade - 16.10pm 16/08/2024 (20 minute delay) ?
BSL (ASX) Chart
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