My impression of today's price action: BAL is/was in the process...

My impression of today's price action:

BAL is/was in the process of forming an uptrend channel (Channel Range for Today: $7.83 -- $8.57).

However, there was selling/shorting pressure both on ASX and BAL.

(1) ASX: There was an anticipation that US is going to run wild on china news (like 500-600 points). But it only did 287 points. I understand it's crazy to be disappointed about that. But it had a negative psychological impact.

(2) BAL was up 12% the day before. So it attracted profit taking and shorting.

The lower bound of that no-longer-valid channel for tomorrow is $8.16.
Unfortunately BAL failed to close above $8.16. This may cause SP weakness/confusion in the next couple of days.

IMO a short-term SP consolidation may occur here, although it also depends on what ASX and A2M will do.

Worst scenario is perhaps a consolidation to around $7.60 (or even to the small gap just below).
Better scenario is a bit of sideway price action before traders find a new pattern, or ASX finds another piece of happy news.