BAL 0.04% $12.88 bellamy's australia limited

Actually held up pretty well given overall market. But end...

  1. 189 Posts.
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    Actually held up pretty well given overall market. But end result of todays candle was inverted hammer / toombstone. These generally indicate trend reversal as the long upper wick is all profit taking (or shorting) with not enough buyer support to hold up the price.

    Still has the option to rise, if there is actual value there. A decent break above 10.80 ish would indicate this. If so may get to mid / high 11s. But given all other indicators, RSI, Boilinger band position, MACD flat on the 4hr chart, and todays last candle, likely it will go down. If DOW goes significantly red tomorrow then almost certain. Next support at 9.80, and a break here will show low 9's.


    https://hotcopper.com.au/data/attachments/1464/1464312-0f541dc68c0fb8ab7a21f3e5bb20aacc.jpg

 
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