The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Haha, thank you HaleSpur! Its still just uni basics as well as standard TA expression used in the global community of traders. Plus experience from travelling, and yearlong hangout with english speakers... I still need leo.org to find the right word. Also note my poor grammar, and the difficulty to say anything in a polite/ diplomatic way. All very very difficult for a foreigner! Any phrase with the best intentions will make me look like the elephant in the room. I already do, right?? Here on the continent everything is just much more direct. But no, I've never lived in the UK before, in case this was important for you to know. ------- That is magnificent English from somebody who is not from England. Congrats to your teacher
All in all, it was still a very nice day, and the lower line at 613-610 just didnt want to give in. And evwrything way above the 604 support that would justify a bearish bet.
Daisan, my only point from his quote was the very fast and very steep rise of Bushveld. This is the only information I need to start looking at a share and its price correction.
This steep Sp rise has been the basis of my TA calculation which I started at the (bearish) double peak in December.
Ma5k, I always try to find a reason for a substantial technical movement on the chart. First comes the actual factual movement (with the Sp showing the truth), and then with some delay comes the explanation why a movement or drop has happpens (in our case slightly lower figures).
Just a few days ago each and every Sp weaknes here was purely explained by some mm's Sp conspiracy...
Ma5k, look, heres a nice quote from from this share chat which could explain the sudden weakness of the share price and slightly lower production figures.
------------
"...over a long period time and Bushveld have gone from 0-10's of millions of profit in a very short space of time with if you actually think about what they have achieved, is remarkable."
So yes, the Sp is simply consolidating after too fast rise in too short time, based on hopes and expectations.
And now lets see what FM can deliver.
Maik, looking at your chart for a minute I now see you assuming the high in the sky long term growth uptrend line as the main support. I use the down to earth long term support line ("lower support" in your chart) which connects with the massive support drom the selloff in mid Sept 2018.
For me, this monthlong retrace is still just a normal technical retrace after a fantastic uptrend.
IMO the downtrend should either halt at todays level (pending confirmation this week), or down at the mentioned 30.80p target. Your calculated 28 ish is very close to this, so thank you for that, and lets keep that in mind.
Down at that supprt positive surprizes are possible, because Bmn has always bounced from the 200-line so far, and because this is a news driven share.
Haha, looks like we'd need to regroup every two weeks and evaluate?:))
What I am looking for right now is a decent short term bullish reversal. Plse take a look at your MACD and see the quite overstretched selling period since November which even accelerates in January. In my opinion this looks ready for a rebound. Moreover I am noticing sudden large buys appearing out of nowhere...
Nice closing price above the vital 34.20. And nice last trades.
IMO the recent weeklong pattern suggest more and more attempts to shakeout (short lived minus on the screen), and then large buyers picking up those shares.
SA investors coming in...?
Just ten minutes to go. Take it or leave it :))
@ma5k,
Thats a nice long term chart.
I was talking about a decent short term bullish reversal, never mind the long term chart outlook.
(Buddy we are not meant to post external commercial links nor give advice on a public billboard...)
And nicely bouncing away from the barrier line.
Well said, Raz.
About technicals: The ability to have regained the vital 34.20 line already constitutes a form of "bullish reversal", although just a small one. If we are lucky, this has been it, and BMN will start to stabilize.
I have the feeling something is afoot with those new buyers coming in.
Good news maybe?? Lets see if theres anything from SA overnight !
pb940, that was a great and very well timed keyword posted by you. Thank you for that. Sorry if i took it for my own reference.
As for trading volume: In most cases I purely trade because of volume breakout. I bought BMN in mid December without knowing the company or what they do, purely because of the volume breakout from 35ish (and MarcoT in my ear for months, calling me over here).
I for one try to be careful with this sort of low volume downspikes, which are quickly bought up by large buys. If those figures are correct. We've seen several similar days now.
Lets see if BMN manages to stage a bullish reversal from here. Looking forward to that !