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54.0¢ boart longyear group ltd

I hope you're right, but I just wonder how easily Ares will be...

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truss20

218 Posts.

31

05/10/18

09:57

Post #: 36007609
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Originally posted by Bullspike ↑

We're probably about two thirds of the way through the selling bloodbath, based on today's announcements.

Not good times for current holders but this presents a prime time trade opportunity for newcomers. Not only for the simple reason of 'buy low sell high' but because Ares is forcing a complete 'wash out' of holders. At the completion of their selling there will be a complete absence of sellers (everyone's washed out) and therefore no further move down. Buying will ultimately resume and lead to a powerful resistance-less move up, especially if there is coincidental positive fundamental news, and especially if there is pump-buying from big boys (Ares mates who are buying now) which will attract a hoard of retail buyers.

As some are aware this is a technical phenomenon that plays out all the time; i.e. the 'failed breakout' : Price driven down hard, weak hands washed out especially if support levels are broken, then price reverses madly in the absence of sellers, also fuelled by the incorrect shorts covering.

Get on it!

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I hope you're right, but I just wonder how easily Ares will be able to get rid of their 2.5bn remaining shares

BLY Price at posting: 0.5¢ Sentiment: None Disclosure: Held
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0 Great analysis

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