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
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