ask an analyst

Yesterday, I directed a question to Bell Direct analyst Julia Lee in regards to her thoughts on BLY being undervalued.

Here is her reply.


Here's a 52 wk chart of BLY. You can see that in 2009, there was a strong trend up before the double top which I've circled in purple. A double top looks like the letter "M" and can signal a trend reversal which in this case we have seen. At the moment, BLY is still in a downtrend. I would probably wait... ...for confirmation that the stock is moving up before getting on board this one. For the time being you can see that the downtrend line is acting like a ceiling to price. I would be more comfortable with this stock if it broke past the 32.5c mark.