The BBA Group Thread

BBA - 328.00p .. I have started again with its 'historical chart' below, and as this one also covers an 18 yr period, I have once again used the QUARTERLY movement setting, to remove some of the 'noise'.

The dominant features that I see .. are 2 x long term ranges .. and a strong 300.00p 'pivotal level' in between .. and with the price having apparently settled above this 'pivotal level' this year, it now looks as though it has the potential to move on up towards its 'upper range' ..



Zooming into its 12 mth chart below, to view its movement in more detail, I found that there was one 'abnormal candlestick' messing up the chart, so I have had to use a 'line chart' ... the chart shows that the 300.00p 'pivotal level' has been providing good support throughout most of the year, and the couple of occasions that it did fail, the 275.00p 'major key level' below, produced a good bounce to return the price back above 300.00p.



Another dominant feature was the overhead 9 mth 'downtrend', which was finally broken last month .. and the strength that the price had built up whilst consolidating on the 300.00p level .. is now being released in a steady uptrend channel.

This channel has lifted the price up to the 325.00p major key resistance level above, and today has seen the price break through and 'close' at 328.00p .. although not a very strong breakout move, and volume was relatively low .. it was still a 'closing level' not seen for almost 5 yrs .. so a significant achievement, and I reckon a good signal of more to come.

Its next target is the 350.00p level, with the 337.50p 'mid point level' possibly providing a support level along the way .. another that looks good for the med/long term.