Moz. stated....."(BRM is)Slowly slipping into the abyss".
Well, as I haven't seen a Chart for sometime on BRM here, I thought I would post one to see if this view appears to be correct. Humm, well yes but then most of you here surely don't need a chart to show this...or do you!
As I personally make most of my stock selections on T.A.(what the charts are 'telling' me about direction likelihood)I would have to say BRM, from a short-term(gamble) perspective using some simple T.A., perhaps is showing she is currently right at a level where you could consider buying....but probably at best only for a possible move back to near the top side of its current(and previous...Jan.'10 - Oct.'10) $4.00 - $2.50 range. However, I personally weigh-up the possible Risk/Reward ratio. Would it be worth risking, say $0.50c in order to possibly get $1.50c or 1:3 R/R, right!. Some would say yes and so would I, normally, but I'm obviously concerned about the overall market factors in play together plus the "shonkiness" of the manipulation? that has hounding BRM's shareprice over the last ...well year! But thats not T/A, right!
What does concern me, technically, is potentially what the Med.-term chart picture may be screaming out....BRM's A.Pitchfork. shown below appears to be controlling/capping any counter down-trend rally(i.e. the med. tine of the A.P.). In addition, whilst it may be viewed that we could have a triple bottom forming(over the last 10 weeks) it is occuring within a mid long-term trend(0.618% ret. from Nov.2008 swing low) and as such invariably they fail! And there is more...the 'old', mostly reliable, RSI is in confliction...-ve divergence whilst(barely) showing some +ve divergences...but what is noted(and bearish) is that apart from a few days in late July the RSI hasn't been above the 50% level...considered by most as as a BULL/BEAR pivot point. In other words, the RSI would have to hold above the 50% level for any of BRM's price rallies to be convincing and that at present seems a long way off!
Nothing more than just one Chartist's persective presented, OK! Good luck to those long-term holders and any short-term traders who may "venture" in here?
P.S. I have stated my "sentiment" as NONE but would prefer, if options warranted, to say S/T sell (ON RALLIES).
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