BVSN
well .... @4.88, BVSN is considered cheap, IMO; but i dont have what it takes to go long at the moment <GGG> !!! at this point, aside from keeping an eye on the compx, i'd rather wait till the reversal is printed <already did on friday>, and is confirmed, before i take a long position !!! if it's going to turn the upcoming short term rebound into the intermediate term up trending, there'll be plenty of time for me to get on board !!!!
BVSN closed with the 'inverted hammer/shoorting star' reversal pattern on friday !!!!! short term intraday basis, it broke below its consolidation 'rectagle' yesterday !!!! the fact that it has been trading at the extreme oversold sentiments, and the MACD/RSI are still trending with the bullish divergences in both of the intraday/daily charts, i suspect that the rebound may happen sooner than later <unless compx drops dead here> !!!!
i guess we both agree that bvsn is trading in tandem to the compx !!! i'll cut/paste another message that u might be interested afterward !!!!!
thus, should it head lower on monday, the lower trend line support, dated back to 1999, ought to be trading @4 7/16, and @4 respectively !!! i really doubt it'll break 4 bucks on monday unless, again, the mkt just decides to drop dead !!! but, should the unexpected happens, the lower support on the down trend line should yield, some if not strong, support between 3.75-3.50 on monday, and gradually declining !!!!
on the other hand, the $5 has become its strong resistance if it tries to ascend higher on monday !!!! should it be able to break the resist @5, the upper trend line resistances ought to be @5.50, and every quarter after that, with a strong resistance at its 10dma @6+/- !!!!
but, then again .. it's just an observation; and i maybe wrong !!!
good luck !!
auto
ps. here's the s/t retracements - ONLY if it does not make a lower low on monday !!
betw 6.06-4.75
- 5.75
- 5.56
- 5.41
- 5.25
betw 7.84-4.75
- 7.11
- 6.66
- 6.30
- 5.93
betw 9.13-4.75
- 8.10
- 7.46 ** is also where the january down trend line resistance is trailing at the moment
- 6.94
- 6.42
pps. not an advice to buy/sell BVSN |
