BSL 1.56% $20.24 bluescope steel limited

Chart - nearly time for BSL to break out of dip?

  1. 408 Posts.
    lightbulb Created with Sketch. 1
    I am showing an interest in BSL on a TA basis. If it is going to start another leg-up it is getting close to the time for it.
    Whether the fundamentals support another leg-up only a quarterly update will tell.

    1. BSL is following a parabolic trend. It is edging closer to coming in contact with the parabolic trend line.

    2. Assuming this correction is similar in time to the last correction then we should get a breakout around 2nd June.

    3. This correction is shallow (38.2% of the range of the prior rally) which shows strong buyer support.

    4. Today's price action has broken above a minor swing point high and is close to breaking above a downtrend line showing that buyers are starting to push up.



    Daily Bar Chart showing parabolic trend
    BSL is edging closer to the green parabolic line.
    The lower blue box encloses the previous correction. I have copied that blue box and pasted it over the top of the current correction. If we get a similar correction in time then we have another couple of weeks at most before completion of correction.
    BSL Daily Parabolic Trend 2017-05-18.png
 
watchlist Created with Sketch. Add BSL (ASX) to my watchlist
(20min delay)
Last
$20.24
Change
0.310(1.56%)
Mkt cap ! $8.913B
Open High Low Value Volume
$20.18 $20.36 $20.10 $21.07M 1.041M

Buyers (Bids)

No. Vol. Price($)
17 4374 $20.23
 

Sellers (Offers)

Price($) Vol. No.
$20.24 3487 22
View Market Depth
Last trade - 13.21pm 11/07/2024 (20 minute delay) ?
BSL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.