Obviously BLY is still in a confirmed downtrend from $5.01 since 05Apr11. Through July'11 Billy made a base and was starting a recovery (got to $4.22) when market worries struck and price plunged to just above $3.
The most discouraging thing about the stock is how weak its SP is and how easily it seems to find a lower Low.
If you look at the BLY chart going back 2 years, there is clearly technical support at $3.00 (also a psychologically important level), as well as strong support around $2.60.
Hopefully it will soon break out of the downtrend at one of these levels and at least start ranging maybe $3-$4, if not recovering to somewhere near $5.
BLY Price at posting:
$3.28 Sentiment: Hold Disclosure: Held
