Was that slightly bullish - do we think we have bottomed?.Yes...

Was that slightly bullish - do we think we have bottomed?
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Yes BAS gained 1 cent to finish on 14c. Our volume was on higher side today, nearly double of last few days, just over 3.8m shares traded. We opened on 13.5, touched 13.2 and finished at day's high of 14c. Strong start, then lost momentum, but finished strongly as well.
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So we got a good Quarterly and an increase today does justice at least to that. Last few days most of the trading was happening on 13.5. So today it was good to see that most trading happened on 14. We could have gone higher I thought, but it looks like there are still a number of punters who are happy to exit here. As I mentioned before, many used to sell to buy lower. But strong support by our 1m buyer and others had made sure at least for now that less chance of buying lower - hopefully that may deter a few, but has not till now in a big way.
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Today's trading was good from volume perspective as well and close to 3m shares were traded at 14c most of which was a buy. So slowly like we had to go thru attrition process to overcome 13.5, now we have to do for 14. I reckon we may have got over half the sellers at 14, so another couple of day I feel if we traded as we have been trading like last few day, then 15 at least is begging. But anything can happen, so please dyor.
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The quarterly has once again indicated that we are on strong footing. We are cash-flow positive and our kitty is growing. So no CR I feel in short term. In another couple of months, there is a good chance we may see bigger bank balance. Hope that translates to SP as well and our bank balances.
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From a weekly perspective, last 4 weeks - 13.5/14.5/13.5 and now 14. So its clear that for a month we are slowly overcoming this level. But good to have a green week.
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So what will happen next week? Today's trading was bullish without being spectacular. It has also reinforced that very high chance we may have seen bottom of this phase. Our current trading range is 13/16 - so till we don't get above 16 we may feel we are not going anywhere. But getting over 15 itself may provide some boost to many. Will that happen? Let's hope so. Enjoy your weekend and all the best.