china Only counts 15% approx of total overseas if sales ,
so last time when it was sold down everybody overreacted to the news and they did not put this into consideration .
it has already recovered over 40% since then and and Doubled from bottom only with in few months if you would have done your research carefully .
So the big boys bought a big parcel on the sold down and they still holding it .
On top of this they are targeting more Asian countries as you might have noticed from companies website which will cover china s holding anyway.
last thing if you will listen to the director audio clip ,you can find on web as well license was never cancelled but restricted due to language on if tins for Chinese consumers .
Fundamentals are still very strong .
Technical, if you apply Fibonacci to the charts
there is a resistance at 8.03 and @ 8.11 so share price have touched it twice in last weeks once it break that resistance it should run all the way to $8.60 to $ 9.00 or above obviously need some more positive news from company ,which should be close by Quarterly reports etc.
Adding More to same post today.
More reasons to buy Bal or it will outperform again.
1 People prefer organic specially these days if you ill ask generally parents or anyone
2 More Organic product just hit the local and overseas market
3 Highest Energy ratio close to 2000j or above in comparison with all the IF BASED products check the the tins box and compare for refer.
4 Positive earnings in US and UK market in comparison with a2m.
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BAL (ASX)
Price at posting: $8.23
Sentiment: Buy
Disclosure: Held
