Good question. This stock has been in a downward channel since March. Looking at the chart next support is in that $10 to $11 range, unless BAL have a positive announcement which will see SP recover. Thats why I always saw it hitting $12, yet you and others with no idea got carried away with the dead cat bounce when it hit $13.60 and thought the good times were back. It looked like a dead cat bounce and was.
Since June 22 on a daily basis it has had 3 up days and all the others have been down days.
All I know is I have enjoyed the arm chair ride to $12. Good buying opportunity, but $10 could be even better.
BAL Price at posting:
$11.94 Sentiment: Buy Disclosure: Held
