BSL 1.74% $20.51 bluescope steel limited

Damn, we had a huge fundamental catalyst occur today and it...

  1. 643 Posts.
    Damn, we had a huge fundamental catalyst occur today and it wasn't positive.

    Robbbbbbb, BSL's AGM was today (12th) and the nuts and bolts of it was that there is no dividend in the near future, the AU$ is holding back revenue but the sector and orders seem strong. A small loss will be likely as well this year.

    The AU$ isn't going to drop any time soon with the US Fed virtually promising low interest rates for at least 4 - 6 months.

    The Yahoo chart (its missing today's sell off) shows the 150 SMA at $2.80. I think we will see the SP go straight through that.

    With all that, where is BSL's next floor/support price(s)? The free website, http://au.stoxline.com/ suggests $2.83 and the $2.35. Not sure how accurate this site can be, but its better than nothing.

    Any thoughts our there Robbbbbbb, Selmax........anyone???

    talktome

    PS. Thank god I sold half of my position with some green this morning at $3.06. Pity about the other half though....

    PSS. I'm using BSL to learn how to trade (liquid, global growth story etc). Its a been a hard slog and my strategies with BSL have yet to pay off....

    PSSS. I don't think the Slow Stoch reading is accurate on this chart as my Big Charts chart says a much higher number. One of them at least is inaccurate.



    BSL Tech Specs




    BSL Chart Nov 12th 2009







 
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$20.51
Change
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