BSL 0.83% $21.99 bluescope steel limited

brocker rates bsl a buy, page-10

  1. 7,571 Posts.
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    rickzheng1, depth is pretty risky to trade from, its manipulated a lot by instos using algorithms, etc, a good indicator is look which way the big orders are going in course of sales.

    I personally thing its a good long today, US was up over on Friday substantially before long weekend and BSL had not followed suit and was down on Friday. BSL for the past 2 weeks had been range trading between 2.85-3.00, we were near the lower range of that today. Support on daily chart and slight bullish divergence on MACD Histo, Stochastic and Williams on daily. Stop could be placed below monthly low at 3.75. Its worth the risk for the amount of upside in my eyes.
 
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