Geez, I would feel a lot more comfortable if all the
"funnymental" analysis that is being 'pushed' here on BGS would marry up with the (potential) "technical" picture atm, OR VISA VERSA, because I don't like what I am seeing/reading.
Look, I 'hope' all you guys/gals are right and that the (potential) Technical picture shown below is incorrect because some, especially latecomers blindly following the myriads of latest uneducated 'postings', could very well get burnt.
Ah well, for what it is worth, here's a daily chart covering the last 5 months action that I think raises a bit of a concern here, enough for this Trader/Investor to liquidate most of his holding and place BGS back on WATCH. SURE, atm the chart pattern(H&S) has not been confirmed BUT the accompanying indicators(oscillators and Vols) are showing all the 'normal' warning signs.... and I like "NORMAL".
The slow MACD went from 'long' to 'short' sometime ago(just after the outside range day down from highs); the SSTO hinted a breakdown of its BULL PHASE not too long after BUT, more importantly, has just been rejected again in this recent side_way's action from the BULL/BEAR phase determination level(50% level); S.P. action has breached the 55EMA level and the 34EMA is flattening out; and finally the (potential)H&S topping pattern volumes are all according to the 'norm'.
In summary,
if BGS is to break below the 25.5-24.5c price supports, and as I said the accompanying T.A. tools suggest this is a high probability, then watch out as there may be an unwelcomed surprise.
At the very best, for all those BULLS here, maybe consider placing some stops...
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