Bellamy's Organic is Australia's leading producer hit historical resistance.
According to VectorVest AUS market, BAL.AX had a fair relative safety of 0.93 and a poor comfort index of 0.60 on 28 Nov 2016. These figures can conclude that we short BAL.
From my analysis, both Stochastic RSI and MACD are shown overbought signal.
BAL.AX hit $12.15 and may have a less chance (only if VectorVest's relative timing value RT continues to rise) to pump the share price up to $13.2 where Fib. Fan 38.2% will be another resistance level.
Don't forget the price action is at the down trend channel.
According to VectorVest AUS market, BAL.AX had a fair relative safety of 0.93 and a poor comfort index of 0.60 on 28 Nov 2016. These figures can conclude that we short BAL.
From my analysis, both Stochastic RSI and MACD are shown overbought signal.
BAL.AX hit $12.15 and may have a less chance (only if VectorVest's relative timing value RT continues to rise) to pump the share price up to $13.2 where Fib. Fan 38.2% will be another resistance level.
Don't forget the price action is at the down trend channel.
