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.
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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. |
---|---|---|
$20.58 | 14967 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 145 | 20.300 |
1 | 30 | 20.000 |
1 | 200 | 19.950 |
1 | 260 | 19.800 |
1 | 506 | 19.750 |
Price($) | Vol. | No. |
---|---|---|
20.600 | 319 | 1 |
20.660 | 1768 | 1 |
20.900 | 2500 | 1 |
20.950 | 493 | 1 |
20.980 | 1000 | 1 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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BSL (ASX) Chart |