Investors and traders buy where they see value and sell where they see overvalued. There is never any 'proof' that something is going to happen in the markets short term.
I feel that this is a compelling level to buy - and I am VERY VERY Happy that you don't agree. If/when everyone agrees that a stock is too cheap, then we only have buyers. When everyone thinks something is too expensive then we only have sellers.
Luckily 'the markets' do work as we always have conflicting opinions, and therefore we ALWAYS have buyers and sellers, allowing buyers to buy from sellers, and sellers to sell to buyers.
Maybe reading 'markets for dumbies' might help gain a better understanding of this
BKL Price at posting:
$95.98 Sentiment: Buy Disclosure: Held
