From looking at the daily chart (sorry for not including the chart) it looks to me that we have seen a new higher low that was formed on the 22/2/11 at a closing price of $.375, the last low being on the 11/1/11 at a closing price of $.365.
Between these two lows we have seen five closing highs of $.42 this in my opinion is the next hurdle for BOL to clear. I do not expect BOL to penetrate this barrier on the first attempt, but when BOL does penetrate and close above this price the $.42 for three consecutive days then $.42 should then turn in to an area of support for the share price.
Of cause this is all on the assumption that the volume increases with the share price, if it does not then it will be only a short lived affair IMO.
BOL Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
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