BAL 0.00% $13.23 bellamy's australia limited

BAL technical / chart thread?

  1. 1,791 Posts.
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    I'll post my rudimentary chart. This is the logarithmic scale as it seems to 'fit' better. Please post yours.

    It doesn't include today's data as I'm on free/delayed data. But obviously we're sitting on the ~$12 support right now.

    So... if we suffer some crash-y days then that $10 support line as well as the $10 area of the upward long term trend line will come into play. Has to be a very solid support area if it happens. There's time for that to happen then a bounce back up to around $12 before the announcement. Something tells me it is indeed going to go for the slide down shortly. Perhaps a bad day on the ASX today will result in general mayhem and panic for at least 1 more day. And it kinda looks like a head and shoulders formation I'm afraid.

    If the $12 line remains as support either now or next week some time, then a *good* announcement might be capable of bringing us somewhere near the all time high of $16. Can it possibly be good enough to get us that high or even above? I don't know what to believe any more as we have no solid information to work with. Lets hope this isn't one of those stocks that a lot of us regret. I hope I'll be looking back in 6 months laughing at how low the price is now.


    I'm not selling as I think very very worst case, ~$10. Fundamentally, the results can't be THAT bad, there are really no warning signs at all (please tell me if you think there are any that aren't just general economy doom and gloom) I just don't know if it can possibly beat what ever the market has priced in so far.

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