BSL bluescope steel limited

Here's long term view of price movement for BSL.... rhythms or...

  1. Nez
    616 Posts.
    lightbulb Created with Sketch. 91
    Here's long term view of price movement for BSL.... rhythms or manipulation? I'll leave that up to you.
    All time low in 2012. From there it traded up to $6.64 then fell away to the 75% retracement level of that rise in 2015. The next bull run from saw BSL rise to the 300% level of the previous hi-low (shown pink) also the 33.33% all-time Gann level (shown green) before retracing to the 61.8% Fibonacci level to form the Covid low in 2020. From there it rose to the 100% level of the prior hi-low price extension (shown yellow) and to the 50% all-time level (shown green). BSL has recently again traded down to the 61.8% level of the previous hi-low of 2020-2023 (shown blue) and risen strongly for 7 continuous months. Today saw it hit the 38.2% level of the previous hi-low price extension (shown blue) this level is also the 61.8% level of the 2021-2022 decline so it is no surprise it was met with selling at that level today, uh sorry manipulated at that level today.... The previous recent resistance level of $20.60 is the major all-time 38.2% Fibonacci level (green) and also close to the 50% level of the 2021-2022 decline (black) which should hopefully now act as a support level. That said, we are now at a Fibonacci time zone so a pause in the rise may possibly be due... uh... manipulation is due. A pullback to the $19.10-$19.35 area or $18-$18.20 area could be possible before resuming the uptrend or it could continue to fall, by that time a sell rule would be triggered and I would waiting for the next major support level to hold then look to enter again on a buy rule.

    Monthly chart - long term view.
    https://hotcopper.com.au/data/attachments/5222/5222197-ce4c35f1e9b880777f9652a88ab6a2e9.jpg


 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)
Last
$24.42
Change
0.060(0.25%)
Mkt cap ! $10.71B
Open High Low Value Volume
$24.28 $24.50 $24.20 $32.23M 1.322M

Buyers (Bids)

No. Vol. Price($)
1 96 $24.40
 

Sellers (Offers)

Price($) Vol. No.
$24.46 4742 2
View Market Depth
Last trade - 16.11pm 30/07/2025 (20 minute delay) ?
BSL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.