TECH ANALYSIS on BALTIMORE BLM by CHARTY

Uncle

Established member
671 2
3 January 2001

Baltimore is another very popular stock amongst investors (see in my archive my previous article on Bookham)

As of now 12.45 London time, the security price is trading below the lowest Bollinger Band, currently at 29.70 Both bands are flattening out.

On-balance volume confirms the down-trend

Stochastics are JUST entering the oversold area now. I would focus for a while on this point. (Also see my previous article on Stochastics and how to use them). This is telling me, there is a fair chance of more downside, at least there is room for it.

MACD, on the other side, displays a clear positive convergence.

There is a support level at 260ish, which is the intra-day low on the 30th Nov.

Conclusion..........Major trend is down. As of now, BLM is under pressure. It may bounce back if pressure alleviates, but before I call this a buy, some time may pass

The above does not constitute financial advice

AUTHORED BY CHARTY AND REWRITTEN BY ME HENCE E&OE

John