A2M and BAL Weekly Chart Analysis.

A2M milk weekly chart analysis taking a medium term view. We have a  “change of character” (CHoCH) with A2M, suggesting a consolidation ( range bound price action behaviour) over the coming weeks. The major trend being UP with A2M, may suggest a resolution to the upside from the anticipated pattern, is more likely than not. The fact that we are seeing a  CHoCH means further testing of the support and resistance is likely. Both support as well as resistance are marked with Orange horizontal support and resistance lines. Resistance being the zone of $2.35 and Support $1.50. Largest reaction in the history of A2M, since it’s inception, giving us a change of character in price action behaviour. Prior corrective period, resolved itself with a BREAKOUT to the upside after approx. 4 weeks.

A2M weekly chart below.

a2mweekly

BAL is another stock which is likely to consolidate (range bound price action) in medium term after a CHoCH ( Change of Character). As to the direction of the next move, further time and analysis is required. The major trend being UP with BAL , may favour an upside breakout once this potential pattern in the making is resolved . I would also keep a close eye on the up trending demand line ( trend line) in Red with BAL.

Prior corrective period resolved itself after approx. 8 weeks late last year, which may be the case again this time around.

Weekly BAL Chart below.

 

balweekly

Disclaimer

All the information and analysis provided on this website is general in nature and for educational purposes only and does not constitute financial advice. No content in any way implies a recommendation to buy, sell, hold or short sell any financial instrument, nor is it financial advice.

Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration.

Links to other websites are inserted for convenience only and do not constitute endorsement of any of the material on those sites, or any associated organisation, product or service. Kazim Agaoglu is not responsible for the content of any site owned by a third party that may be linked to this website and such links are provided as a courtesy with no judgment or warranty being made concerning the suitability, accuracy or otherwise of the content on any such site.

Kazim Agaoglu disclaims any undertakings, warranties or guarantees, express or implied and shall not be liable for any loss or damage whatsoever arising out of in connection with the use of or reliance upon any of the information on this website. The user accepts sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.

Comments are closed.