Blue $JSEBLU has found good support off the 257 level. Share price trending up on news of potential acquisition of Cell C by Telkom. Risk reward ratio is about 3:1 with upside target of 338 and stop loss at 257. Share price looking to break above 50 day MA at current levels
So much for buying the rumour. Market seems skeptical. You can't blame them. Waiting.
expected to find support around 170
Blulabel is trading in a very very tiny range over the last few days,volatility tightening precedes an explosive move.On a balance of probabilities the break is likely to be to the downside....excellent RRR as well.
Could be building a bear flag for more downside. No position here. Just watching.
I'm sure the brothers Levy will not be inviting the Cell C salesmen for a braai anytime soon.
367 offering some support. Cell C bond downgrade not doing them any favours. Will be watching carefully over the next couple of days, but unless these guys make a plan with Cell C, it won't be doing the share any good over the longer period. No position.
!!Counter Trend Hammer on the recent 520 pullback Limit ~465
Little bull flag break with two targets.
Watch for a 480 break. That will open a 515 target price.
BLU is at 'n resistance level at about R4.50. Breaking through may see it all the way to R6.12. May also not break this and fall back to support line. May be good to sell of 50% (IF YOU ARE IN) and then enter again above R4.50 or after it fall back to Support level. Lets wait and see.... can go either way --- TOUGH ONE TO CALL.
Bull bull flag fake break, and 450 could once again become a target.
After faking a break in a bull flag, it has now broken back.
A break of this bull flag could challenge the top of this wedge. Wait for the flag break. Don't preempt.