Hi ryobal – Obviously you & I are keen chartists. My daily chart...

Hi ryobal –
Obviously you & I are keen chartists. My daily chart tells me though, that what you referred to as a false reversal having occurred on Wed 19^th IMO was a part bearish engulfing candlestick, in that it downturned more than the bottom 50% of the previous day’s range.
On Thurs. 20^th the pattern for the day again IMO was an inverted Hammer (with the O & C occurring in the bottom half of the candlestick) and therefore suggesting – to me - that yesterday’s action would not be a rise but a further fall by the Close. That day’s candlestick again – like that of the previous Friday 14^th – became a fully bearish engulfing pattern in that it engulfed the whole of Thursday the 20th’s range, closing down albeit 1c lower than Thursday’s close.
I therefore expect, that in the absence of any Ann by BGS on Monday – TH or otherwise – trades could fall another cent at least to 32c, where there are presently 8 buyers wanting 291k+, and possibly by some DT’s rout down to 30c, where there are another 12 buyers wanting 284k+. Informatively also these 2 levels of buy quantities have not materially changed for several days.
With the limited funds I have, and only holding < 20k, I’m not a fan of paying any more than 8-10% of what I expect to be the price at the lower end of the scale @ which I can pick them up. If I miss out then so be it.
Finally 2 more chart observations are

1. that the stock has traded most of all of the last 7 trading days below BOTH my Simple 10-day & 35-day Moving Average lines
2. the Fibonacci Retracement Indicator I’ve placed on my chart is from the recent high of 53 down to the base of 29c which price the stock traded down to 30 Aug - 06 Sep.

From Fib. Retracement (down) Indicators I’ve drawn - on the charts of every spec stock I’ve owned for 17+ years, or had on a Watch List, the SP rarely turns around into an uptrend with IN the Fib. Level of 61.8% down from its peak to the bottom “0.0%” level, but goes to that bottom at least once AND then bounces up thru the downtrending 10-day Moving Average.
In BGS’s case the 61.8% = 38c and the bottom of course being 29c, as stated above.
I had a lot of strife trying to post a Brent Crude Oil chart on 88E some weeks ago, so am reluctant to post my BGS chart here, that would illustrate what I’ve said above.
Of course I would welcome your views on my interpretations ryobal, and those of any other HC’ers – e.g. Charterrierist, Tanotfa - who are chart enthusiasts like us.
For others reading this post – who are not chart fans – then a great site to go to, to educate yourself about Candlestick patterns is to
Google : candlesticker.com
where you’ll see many patterns thoroughly explained.
I stress again that all my interpretations above are of course all IMO, and can all get thrown out with the bathwater if BGS make a JORC Ann or place a TH within the next 2 trading days.