Sunday, July 10, 2005

BWLD Revisited

i was looking through some charts today and looked a little more closely at BWLD. it looks bullish to me.... bounced off the resitance with good volume (could have been short covering though). also, the stock is currently oversold and trading at the lower bollinger band.

between may and june we saw a bullish correction from the $27.50 support to the 25EMA. could history repeat itself? if BWLD obeys tech analysis, it could correct itself back to the ~$31 25EMA. thats a nice ~10% gain!

one thing though, the 25EMA coincides with a fairly strong support. so it will take a lot of buying pressure to correct to the 50EMA... and i really cant see it correcting to the next resistance of $34 anytime soon w/o outside news or PR (maybe motley fools can rec this again). i have no spare cash at the moment as im tied up in other stocks, but i may be taking profits on COGT and PPD next week... so if my timing is good and everything works out.... $$$$!!

anyone have any further insight on BWLD?

oh and this is a useful site.


Anonymous OM said...

Good call on BWLD, Stochastic is very bullish.

7/10/2005 10:42:00 PM  

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