BKL: time to shine?
BKL had a poor performance in 2019 after a massive gap down from near a yearly high of $131.
Is 2020 looking better?
See that price is now finding support just on the top of the red GMMA longer term (investor) band, having fought to maintain that position since September.
Note also the relative strength (compared here to XAO). The 100 period MA, 30 period MA and RS are all compressed close to 0 ready to break out.
OBV has diverged from price as support on top of the GMMA long bands is found.
Finally, according to Marketindex.com, BKL only has to gain 0.01B in market cap to go from #201 on the ASX to #200, leading to ASX200 tracking funds entering the market for BKL.
Breaking back down trhough the GMMA past the recent low of ~78.88 would invalidate this.
One to watch for 2020.
**Not investment advice.**
Is 2020 looking better?
See that price is now finding support just on the top of the red GMMA longer term (investor) band, having fought to maintain that position since September.
Note also the relative strength (compared here to XAO). The 100 period MA, 30 period MA and RS are all compressed close to 0 ready to break out.
OBV has diverged from price as support on top of the GMMA long bands is found.
Finally, according to Marketindex.com, BKL only has to gain 0.01B in market cap to go from #201 on the ASX to #200, leading to ASX200 tracking funds entering the market for BKL.
Breaking back down trhough the GMMA past the recent low of ~78.88 would invalidate this.
One to watch for 2020.
**Not investment advice.**
Penafian
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