technical analysis with a bullish signal

BOC 5 Month high at 1,48

29 May, 2008 (16:00:00 AEST)

BOUGAINVILLE COPPER STRENGTHENS 0.3% ON FIRM VOLUME, IN SIGNIFICANT UPTREND May 29, 2008 16:00:00 AEST

Bougainville Copper (BOC) strengthened 0.50c (or 0.3%) to $1.48. Compared with the All Ordinaries Index which rose 62.7 points (or 1.1%) on the day, this represented a relative price change of -0.8%.

TECHNICAL ANALYSIS
Significant Uptrend
Price Volume Trend: The price soared 19.4% in the last week. This has been propped up by firm volume of 1.2 times average for the week. In the last three months the number of rises outnumbered falls 29:26 or 1.1:1.
Relativities: Compared with the All Ordinaries Index which rose 2.6% for the month, this represented a relative price increase of 46.6% for the month. In the Australian market of 2,094 stocks, the stock has a 6-month relative strength of 86 which means it is beating 86% of the market. A price rise combined with a high relative strength is a bullish signal.
Moving Average Price (MAP): The price to 200-day MAP ratio is 1.37, a bullish indicator. In the past 200 days this ratio has exceeded 1.37 44 times suggesting further upside. The stock is trading above both its MAPs at $1.08 for the 200-day MAP and $1.07 for the 50-day MAP, a bullish indicator. The 200-day MAP has increased to $1.08. An increase is another bullish indicator.
Breakout: The stock traded at a five-month high of $1.48 today. The bulls are maintaining control with price open, high, low and close exceeding yesterday's levels.

Support: The support price is hovering at the $1.0 level. Volume traded at the weak support price zone was 0.3 times average during the five occasions when the support price was breached. In the last one month the first low was at $1.0 on May 07, the second at $1.0 on May 05. The third decline halted at $1.0 on May 08, the fourth at $1.02 on Apr 30 and the fifth at $1.02 on May 06
Resistance: The stock hit a new five-month high of $1.48 on decreased volume index of 1.3 on Thursday.

PRICE VOLUME DYNAMICS
Volatility: The stock traded between an intraday low of $1.42 and five-month high of $1.48. The price range has expanded in the last two days (from 5.50c two days ago to 6.0c today) which, accompanied by a price rise, is a bullish signal.
Volume and Turnover Period: There were 58,542 shares worth $85,491 traded. The volume was 1.3 times average trading of 46,724 shares.
% Disc to High and % Prem to Low: The last price is at a discount of 23.7% to the 12-month high of $1.94 and a premium of 102.7% to the 12-month low of 73.0c.
Volume Weighted Price (VWP): The price is at a premium of 16.7% to the 1-month volume weighted average price of $1.27. Given that this premium has been under 16.7% one hundred four times and over 16.7% nineteen times in the last year, the downside:upside probability is estimated at 104:19 or 5.5:1.
Beta is 1.3.