BMN 5.67% $3.33 bannerman energy ltd

85c support level, page-82

  1. 2,397 Posts.
    bobcock,

    This is what I see. I'm using pitchforks as they seem to be the most reliable for BMN.

    The blue fork represents the Global Financial Crisis. The share price followed this fork faithfully down.
    The orange fork shows BMN's recovery. As you can see it is still trading in the orange fork. The lower orange support line is the key now. I have a yellow box where the slide could /should come to a halt in the mid 50's area.
    The black fork is the short term fork where it was trading until today when it spectacularly fell out.

    If it falls out of the orange fork then there is no stopping the fall until 25c, a historic low.
    But I reckon mid 50s should hold.

    Have a look at haspete's chart - different method, same conclusion.

    Hope this helps,

    Cheers,
    10cents

 
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