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2. FTSE Bursa Malaysia Small Cap
7. Ann Joo
8. Chow Sang Sang
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10. V.S Industry
13. MY E.G.
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Potential Accumulation on the stock BAL - Bellamy's Australia Limited...
We have had falling prices over the last 12 months, with the stock falling from $22. In October of last year we saw some stopping action occur and the stock has trended sideways. This may have been a sign of accumulation. The stock appears to have moved through the phases of accumulation....
1. More than two consecutive weeks above medium term down trend
2. Signs of support around 0.786 Fibonacci retracement level
1. MACD around baseline
2. MACD divergence
3. RSI divergence
*Still waiting for CFDA/SAMR approval from China
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.
Bellamy's has pulled back to the weekly 61.8% fib and it will be interesting to see if this support holds.
The whole-number $10 level is just below this level, and this is also near the bottom of the weekly Ichimoku Cloud, so this region, for me, would be the line in the sand level to watch here.
Any hold above the 61.8% fib and / or $10 region would have me...
Bellamy's Organic is Australia's leading producer hit historical resistance.
According to VectorVest AUS market, BAL.AX had a fair relative safety of 0.93 and a poor comfort index of 0.60 on 28 Nov 2016. These figures can conclude that we short BAL.
From my analysis, both Stochastic RSI and MACD are shown overbought signal.
BAL.AX hit $12.15 and may have a less...