• Avoided a 34% Slide in Bloomberry

    Avoided a 34% Slide in Bloomberry

    In our Equity Advisor issue last December 10, 2015, we issued a warning regarding Bloomberry Resorts Corporation (BLOOM). There, we stated that the stock would see an accelerated decline following a slip below its supposed floor at the Php5.00 level. Note that at the time the stock was being ‘shopped’ by different investment firms as it had a healthy fundamental upside of roughly 45% to Php7.56 from its price of around Php5.00 then. As you can see, the price action, specifically its breakdown from a channel, was the one that still dictated its direction. Following its fall from the Php5.00 marker, the stock had indeed slipped all the way down to Php3.00.

    BLOOM write-up from the Trading Edge Equity Advisor:

    December 10, 2015

    Bloomberry Resorts Corporation (BLOOM) may likely see an accelerated selling in the next couple of weeks. As you can see from its chart, the stock has broken down below another consolidation when it failed to rally against its supposed support at Php5.00. Given its slip from the said handle, BLOOM may head fast to a new downside target of Php3.00.

    bloomberry resorts corporation 12.10.15 bloom channel rectangle breakdown

    _____

    To know more about the Trading Edge Equity Advisor kindly click HERE. Subscribe now to receive email alerts before the price moves! 🙂

    *Consensus target price or average target price given by the major foreign and local brokers of various stocks on top of index names are available in our Equity Advisor!

    For those who are interested in technical analysis or learning how to profit using charts, we have an upcoming Technical Analysis Course on April 2 to April 3, 2016. For more information, you may send us a direct message here or text/call (+63) 917 899 90 09.

    Share on FacebookTweet about this on TwitterShare on Google+Share on LinkedInShare on TumblrPin on PinterestShare on StumbleUponShare on RedditDigg thisBuffer this pageFlattr the authorEmail this to someone