BBL : Will rebound strongly rather soon, a move to or very near 200 still very possible
May 1, 2011 Leave a comment
BBL’s day chart is picture perfect, coming off to both trend and horizontal price support on Friday, and closing off the session lows. It remains to be seen if the gap will be completely closed, missed doing so by 0.50 Friday) but a rebound will come soon and we view a worst case scenario here as a market maker forced dip to 165.
Buy near current prices, or wait and see, but we are quite sure the stock will at the very least retest recent highs at 184 in the VST, and indeed we are on record for saying it will hit 200 before long.