BLG 5.88% 3.2¢ bluglass limited

Ann: App 4C Qtr Ended 30 Sept 2023, page-17

  1. 5,893 Posts.
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    I would also note that the 6c level is around 50% retrace of the down move from Feb 2023 at around 8.3c to the lows around 3.6c.

    The charts a bit messy but there is perhaps an argument to say a cup and handle is trying to play out having come off what's close to a double bottom pattern.

    Having watched the pattern of transactions the past few weeks, I still think there is a major holder exiting, but at least over the past few weeks, there have been others who are willing to pick up some of the shares.

    I do think SP would break 6c once confirmation of R&D funds is announced, and/or, announcement of CLAWS funding allocation.


    https://hotcopper.com.au/data/attachments/5701/5701299-85d0139ab83c4e8572d387e076f9ca30.jpg
 
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