Calling Cookie.... BBA


Well-known member
On, there was a 'Daily Brokers Report' on 20/12 concerning BBA.
Lehmans set a 12 month target of 500p from the price then of 367p. All well and good.
But in the same document, they cut the eps and pretax forecast by a few %.
The share was in a medium term downtrend and has continued down. It popped up yesterday. There are resistance levels at 330 and 340p, so the downtrend may come to a halt soon and reverse.

Cookie.. what do you make of these new figures. Are they a serious problem in your view.

If it does stop at 330/340p, it shouldn't be too difficult to make a 10% gain out of it when it does decide to start up again.

Popped up yesterday, faltered today slightly but traded 150% avg volume of which Buys outweighed sells 2:1 and nearly 50% were large block trades. A lot of institutional interest in this one. Scottish Widows, CGNU, Fidelity etc hold in excess of 100mln shares.

Closed at 357 mid = -0.5%
Lost 10 points up to lunchtime but recovered at close.

I am not the chart Guru but if breaking through the upper trendline which appears to be approx 360 - 365 you should get your 10% and maybe more.

TA views please guys.

Good Luck

I make resistance 360 ,then 370/375.....
If it trades mainly above 360 tomorrow, then you could be in luck.This is the (upper) downward trend line, and provides resistance.
Interestingly, it opened above this today @ 363, but didn't hold.Failure again tomorrow will no doubt see it on its way downwards to 350, as a local support.
My bet as a gambling man, is onwards and upwards as the indicators look reasonable...

For information only.

Back to a long term support level at ~345p. Beginning to see a TCI +divergence. No vol today to speak of, but watching. Medium term view.
Wow.. a lot happened in half an hour. I think there may be a bit of resistance at 370/375. RSI and Stochs showing 74 and 65, so theres some to go there. Note the large volume days in early Jan. Someones collecting.