The relentless price action downtrend looks to be running out of puff: BPP made its all-time low in October 2022, double bottomed 12 months later and may soon make a higher high (say before Christmas). Volume has spiked high in the last 12 months, & several indicators look favourable IMO.
BPP is a specialty rental and service provider based in WA and QLD, with national service. Rental equipment to customers are: de-watering pumps, hybrid power generation sets and specialist trucks. The company growing its earnings off a low base, has operating leverage & tax benefits and potential multiyear tailwinds for greater demand for mine de-watering. Given that hard rock mining is likely to boom with Gold, Silver, & REE recent popularity it may be a long-term hold IMO. DYOR.....
Daily chart:
The relentless price action downtrend looks to be running out of...
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