Its a capitulation playing out - fully factored this in yest as a possiblity but thought there was a low chance without a decent bounce first given sufficient space between price at the time and the down sloping short term moving average where it's been hugging and most shorting off from. Either way, a lower low capitulation (you want that ugly looking candle) offers more predictabily for a bounce after the series of smaller stair-wise falls. Strength of bounce will be the all important factor - whether it can run back, consolidate and break those ema's forcing shorts to cover or whether it's more sideways action and then a lower drift. With the annual report not far away, you just know all eyes are on this for a cheap entry and the good folks at norges may just try and run it up prior to it's release.
BAL - Chart, page-336
-
- There are more pages in this discussion • 1,239 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BAL (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LGP
LITTLE GREEN PHARMA LTD
Paul Long, CEO
Paul Long
CEO
Previous Video
Next Video
SPONSORED BY The Market Online