Bell Potter were bullish with a "spec buy" recommendation and target SP of 79c late last year and continue to be bullish on Aussie biotech for 2017 (with specific mention of BNO).
They've have been bullish in this way for over 2 years now but the SP has not really come close to their valuations during that time. So I take those kinds of valuations with a grain of salt.
Now it seems our attention is being drawn to Bell Direct (Recognia) who are apparently bearish and predict a slide down to under 12c based on their chart analysis - specifically a "Symmetrical Continuation Triangle". But what they don't realize is that in fact it's actually a "side-wards trapezoid" which as we all know is an occult symbol associated with Satanism. It proves that BNO have finalised their deal with the devil and share holders will all be rich very soon (because we sold our soul by trading in stocks).
Perhaps Bell Direct should direct their skills and energies towards something more productive like interpreting religious symbolism manifesting in toasted cheese sandwiches, or making out shapes of animals in clouds which would actually tell us more about where the stock is heading.
BNO Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
