It's always interesting to see a chartists view. So the sell signal is in right now? Okay I will take note and it will be very interesting to see how much further we fall. What are the predictions? What are the next support levels on the charts? Where are our targets? 2 bucks? I dont pay too much attention but I dont mind a read.
The DOW was down over 200 points lastnight. Yet again..fear..charts..investors crying in the corner over losses..
My personal opinion...the fall will turn when market jitters start to settle. Maybe when the brokers, analysts are happy with the reduction in company values they will say the drop in stocks prices is overdone and they will come back and encourage everyone to buy. The bottom will be in and all the charts will look like they are about to bounce. The ones who sold at the bottom cry and buy their stock back at a higher price.
Light sweet crude continues to trade in a constant range so no issues there.
Of course my predictions above could all fall through if we had another GFC. Then we can listen to the chartists predict all the support levels for the stock as we track downwards. That will be interesting.
BRU Price at posting:
$2.63 Sentiment: LT Buy Disclosure: Held
