BMN 3.51% $2.75 bannerman energy ltd

ridiculous, page-22

  1. 4,627 Posts.
    I think thats exactly what is happening RE and with EOFY being only 6 days away, for whatever reason I think it has something to do with someone wanting to offload shares. Just had a look at the charts and the price is so oversold on the RSI and stochastic its ridiculous. The price broke down today out of the uptrend line but then it was manipulated there, so what relevence does that really have? On the Weekly chart we are still in an uptrend tho at the bottom extremity of it and if you take a look at the RSI on the weekly which I find much more reliable than the daily, it is tracking the price, no divergences at all. I don't think we'll see this much lower, it may go to 90c yet due to the fear and broken stops but there's support/resistance at 92c. I think come July 1st as Tibbs stated we will see it bounce and I think it'll be back into the $1.15 range and consolidate and move from there. I think the true value of this share at the present is around about that range until we hear more from the company. This stock is grossly oversold and at $1.40 was grossly overbought!! Then again I may be totally wrong but thats how I see it.
 
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