Ok, IMO my charts show a very interesting set up for BLY. The first shows the bigger picture with 2 pitchforks, the first being in blue is the older one, the second being in red the more recent one. The SP is testing the lower TL on the older, upward sloping blue PF, but testing the upside on my more recent, downward sloping red pitchfork. From what I have read, a break below the lower TL is bearish, a break up over an upper TL is bullish, so it could go either way. A bounce down off the red upper TL will see the SP retrace to the Median Line (ML) at around the 30 cent mark. If it breaks back up through the lower blue TL, there is another major PF theory trendline which I have shown in dotted red. A break above this Trigger Line will confirm a bullish trend and the SP should target the Blue ML up around 43 cents.
The second graph gets up close and personal as the picture is really crowded due to the fact that also at the intersection of the PF are the 45d EMA and the 200d EMA.
Basically. from what I see, this could not be a more significant picture, we are going to see some action one way or the other this week IMO.
I am not going to call it, will wait to see what early price action there is this week. Actually made some money on the thing last week and have not gone back in although I do like the stock.
Be aware that as a result of the consolidation, there could be some more stock around for shorting (you couldn't easily do it before in any volume but this will change as the instos accumulate (they then lend)).
