BLG 0.00% 2.8¢ bluglass limited

BLG chart, page-837

  1. 1,416 Posts.
    lightbulb Created with Sketch. 4421
    This chart is for the benefit of anybody still sitting on the fence, unable to pull the trigger. The purple vertical lines are July Monthly since 1/7/2020.
    Here is the data.
    1/7/20 - 25/11/20, SP .026 - .13 so +400%
    1/7/21 - 19/10/22, SP .03 - .052 so + 73%
    1/7/22 - 21/2/23, SP .025 - .083 so + 232%
    1/7/23 - 9/11/23, SP .038 - .068 so + 80%
    Clearly buying in July after tax loss selling has worked well for 4 yrs but exceptionally well in 2020 and 2022 and the chart gives a good tell as to why and also why those big advances ultimately failed.
    You can see the Monthly Money Flow bottomed March, April, May of 2020(1st Turquoise line) leading to 400% gain and then in Dec 2022(2nd Turquoise line)it bottomed again leading to most of the 232% gain. The Money Flow Indicator bottomed again in April this year and has been rising at similar pace to the big gains of 20 and 22. Interestingly the SP has been falling since due May , June selling after the April 0.37c plus options CR account for this fact IMO.
    Here's the thing though, check out the MACD which has been rising since 2020 and was heading into positive territory only to be stopped in a sideways move by the CR. The first 2 times the Money Flow bottomed in 2020 & 22 the MACD was way to far in negative territory to be sustainable hence the failed rallies. This time it is different with the MACD right there hovering at the neutral line. The wedge that is 4 yrs in the making and the total lack of understanding by investors as to the progress made by Jim Haden and the BLG team in advancing this technology to commercialisation really supports this chart set up.
    As per WBT just before lift off there is a core group of committed and knowledgeable holders that are starting to get excited or at least very hopeful that there faith and backing of this technology is about to be rewarded. Just like WBT literally nobody outside the core investors knows or understands the globally scalable opportunity that BLG represents and hence posters who can get 50 - 100 thumbs up over there on WBT, BRN & 4DS forums get 4 or 5 over here. That signals the lack of interest IMO.
    Have seen wedges get smashed through on the 3rd or 4th attempt a number of times and this being BLG's 3rd attempt the odds of breaking through that wedge line at .055-56c are looking very good IMO.
    if it does then the target is around the .16c region at a minimum.
    The fundamental analysis which IMO is extremely bullish over the last few months now has this chart in full support mode and with July investment being 100% positive over the last 4yrs this should really put a spring in holders steps.
    These are my thoughts alone and not investment advice. I am very bullish BLG and have a high risk, high reward appetite which comes with the speccie territory.

    https://hotcopper.com.au/data/attachments/6296/6296934-d1dc6fd6ca2965cdca3bffa4269ccebf.jpg
 
watchlist Created with Sketch. Add BLG (ASX) to my watchlist
(20min delay)
Last
2.8¢
Change
0.000(0.00%)
Mkt cap ! $51.16M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
1 30000 2.8¢
 

Sellers (Offers)

Price($) Vol. No.
2.9¢ 150486 2
View Market Depth
Last trade - 10.00am 26/08/2024 (20 minute delay) ?
BLG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.