Are we still on track towards our weekly goals?
Yes BAS gained 1c to finish on 19.5c. Our volume today was very good, close to 25m shares traded.
Although we did not have the greatest of finish, something 20 or 20.5 may have been better and representative of what happened today, but I was still quite happy with what happened today. We started strongly, in the same vein as last week, made a touch of 21.5 and then eased a bit. Nothing unusual for those who have been following the BAS trading even for last 10 days. Although at one stage it looked like we might be pushed towards 18.5, the big buys stepped up and were ready to show their face. The 19c was held strongly and then it looked like we could finish at 20. But 19.5 it was supposed to be.
So what was good about today?
- We made our highest finish at 19.5c today. In the last run we could only finish at 19c
- We did very good volume, the big boys are still strongly with us, and it seems they still have a lot of appetite
- When later in the day there was some weakness, possibly profit taking, then some big buys came in to say we are happy to soak all at this range
Yesterday I had written it would be good if we could get 4 things this week from numbers perspective. Make a new high above 22.5, finish above 19c which was our previous high, then finish above 22.5 and finally touch 26c. Today was the first day and we have achieved one - finish above 19c.
Lot of interest in the stock which is as expected. Its way undervalued as per calculations done by many - the talk is not about just getting double rom here, but at least 4 to 5 times just on initial potential.
So what will happen tomorrow? There is a good chance we may get an Operations Update soon, could be tomorrow. If there is something very good there, then we could make a good jump. From 13c when we have started coming up, its in an orderly fashion gaining for sometime and then consolidating and easing a bit. So no very big jump till now. It would be good to get a big jump and start from a new platform. Will that happen? Lets hope so. All the best.
