Bushveld Minerals (LSE:BMN)
It’s funny how just the mention of the first two letters of a company share code can provoke a frisson of discomfort. When asked about BMN, we immediately thought “BMR”, closely followed by some rather unkind – though deserved – epithets.
However, Bushveld Mineral (BMN)’s share potentials came like a breath of fresh air as something quite positive appears to be occurring with this price. In what passes for ‘normal’ calculations, the current rise should have fizzled at 14p.
As the share actually closed the 3rd April at 14.95p, we’ve some hope for the future as it appears some real strength is evident.
To cut to the chase, movement now continuing above 15p should enter a cycle toward 19p next. If bettered, secondary calculates at a longer term (albeit somewhat unlikely unless boosted by positive news) 25p.
We should also point out the strong possibility of a stutter at 16.5p fairly soon but we’d hope big picture imperatives shall boost the price over such a point toward the 19p target.
If trouble is planned, we’re inclined to rely on the sudden downward spike on March 26th as this appears designed to provide a near term uptrend. It creates the scenario where the market needs break the dashed red line – currently 12p – to indicate a slowdown potential. Such a movement should prove capable of reversal to 9.5p and – hopefully – another bounce.
Source: interactive investor Past performance is not a guide to future performance
Alistair Strang has led high-profile and “top secret” software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know “how it worked” with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang, Shareprice, or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation, and is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company’s or index name highlighted in the article.