Potential Accumulation on the stock BAL - Bellamy's Australia Limited...
We have had falling prices over the last 12 months, with the stock falling from $22. In October of last year we saw some stopping action occur and the stock has trended sideways. This may have been a sign of accumulation. The stock appears to have moved through the phases of accumulation.
The point and figure chart indicates the stock has enough cause built to propel the stock price higher to the range of $15.30 - $16.50.
Do your own research, but there is a potential good long trade here if we get a back up to the creek on low volume...
We have had falling prices over the last 12 months, with the stock falling from $22. In October of last year we saw some stopping action occur and the stock has trended sideways. This may have been a sign of accumulation. The stock appears to have moved through the phases of accumulation.
The point and figure chart indicates the stock has enough cause built to propel the stock price higher to the range of $15.30 - $16.50.
Do your own research, but there is a potential good long trade here if we get a back up to the creek on low volume...