Short Term Trading Week Starting: 1st Feb, page-165

STTCOMP BFC,TA Long
Beston Global Food Company
SP: 55.5c
MC: $199.7 Million
Cash as at 30^th June 2015:  $7,546,943
Shares: 363,241,052
Top 20: hold 66.10%, as at 24^th August 2015

Since late December 2015, BFC has been attracting significant demand from buyers, represented in both significant volumes and ongoing price appreciation. The reward for effort from the force of volume has resulted in the companies shares rallying from a low of 44.5c on December 29^th to a Company high of 62.5c on January 25th.

Over this entire period from late December to Today’s trading i.e. 4^th February, a Substantial Ascending Triangle (see yellow lines) has formed. These Bullish patterns often result in major share price gains once the right sided volume has expanded on the chart, that is the force required to shove it though that resitance. Of particular interest is the size of the pattern itself as I dont usually see many that develop over the abovementioned timeframe.

You may observe that there was a short attempt to break through the topside of the pattern in late Jan over 4 trading days. These bars imo were simply short term traders taking profits. The volumes were not excessive on these days, so accumulation is still continuing. Those whom were caught in that 'trap' imo would be potentially frustrated as the share price has continued to show ongoing strength in all timeframes.

A breach of the mid 50’c’s (which is now the major resistance zone) accompanied with volume expansion may well occur over the next few weeks, which is why I think it is a solid candidate for this periods STT comp TA wise. Please refer to chart below to see the emerging pattern.

Cheers
GF