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Daytraders Weekend Aftermarket Lounge 22 Sep, page-46

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Andyrooooooo

4,183 Posts.

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24/09/17

17:48

Post #: 27423519
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Originally posted by Endless ↑

BGS. I think if you look at 10 yr chart for BGS you'll see that most holders prob have a long history with the stock. Not a lot of volume and mostly buying. Therefore, imo, to look at a few days to interpret the action is prob gonna miss quite a bit. When stocks take LTers on a roller coaster over a longish time frame they tend to get rusted on. Many won't sell and others will wait for $1 etc. Often makes the stock defy normal TA.

I would just take simple view. There is a large buy in btwn 10c and 20c. Some selling at 40c level for 100% gain is normal. 60c level is o'head resistance and more selling.

However, the longer a stock has been in play the harder it is to figure out. I much prefer stocks that are fresh. First few days, easy. Then next couple of weeks with news updates you can make predictions.

The recent peak for BGS trading was mid 2015 after it hit lows and LTers were desperate. They flocked back in and pushed up SP. Now they are all content and SP might just wallow around. So not really on my radar at 40c levels.

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Wow thanks for your thoughts.
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