BMN 1.40% $2.90 bannerman energy ltd

no support for the issue at all, page-27

  1. 1,044 Posts.

    The fact that AGS and a few other advanced explorers are all copping it at the moment is probably not a bad thing when considering the current share price of BMN.

    I would much prefer to see a share price correct due to changed market sentiment to a sector rather than any company specific reason. Sector specific sentiment can be subject to abrupt u-turns! as the herd goes one way and then the other - structural issues within a company can take much longer and are often irrepairable.

    Interestingly, BMN's chart is not unlike that of AGS's.

    Like AGS, BMN is now only a few cents away from being incredibly technically oversold. While everyone who has followed BMN for past 6 - 12 months is well aware of the fundamentals, it is just goes to show that the market can neglect a boom stock and create wonderful buying opportunities when prolonged periods of news vacuum persist.

    Technically, I would have liked to BMN to hold its head above the $2.80(ish) level. However, as support lines can be debatable and sometimes in the eye of the beholder, there is still an argument to say that the long term support trendline is still intact.

    To me, the low RSI (now approaching 30) is the clearest signal yet that 'BUY' recommendations may be on the way.

    A reminder also, that Fat P recently stated (when the sp was above $3.20) that they would not change their 'hold' recommendation to a 'buy' until the price retreated to about $2.50/2.60 - I'm quoting this from memory so please check for yourselves.

    Feedback from any professional chartists would be welcome.
 
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Last
$2.90
Change
0.040(1.40%)
Mkt cap ! $509.7M
Open High Low Value Volume
$2.86 $2.92 $2.84 $1.118M 390.1K

Buyers (Bids)

No. Vol. Price($)
1 4543 $2.86
 

Sellers (Offers)

Price($) Vol. No.
$2.92 16893 1
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Last trade - 16.10pm 23/07/2024 (20 minute delay) ?
BMN (ASX) Chart
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