Recent drop occurred from a H&S pattern from all time high of $23 extending down to $8. Expecting very good entry prospects in BAL below $8 to see if the Inverse H&S pattern plays out. If successful, can lead to share price appreciation to approx. $14. Also RSI below 30 indicating oversold. Shorts are also very high according to shortman which should soon cause a...
The neckline to all time high is approx $8.50 ($16.6 to $23.07)
The H&S shoulder confirmed on weekly candle open at $16.91 and should drop by $8.50. Target was $8.40.
Fundamentals strong in a growing market and no debt.
AUZ has been trading in a parallel descending trend since November last year. If the 5.5c support of the parallel descending trend breaks, we are estimated to test the huge gap on the charts in October last year between 3c and 3.7c. It has been falling today on announcement of debt convertibles from Bergen which is negative
