Requested Chart Analysis for Borders (BGP).
Borders Group (BGP)
A/D line: Negative but slight increase lately
ADX line: Bearish but weak trend
MACD: Mostly flat
CMF (21): slightly negative
OBV: Confirmed all moves in the PPS, normal
RSI: Touching oversold territory and flat trend
Resistance:
$1.10 (20-day Simple Moving Average)
$1.17 (July 6th support broke and turned into resistance)
$1.25 (50-day SMA)
Support:
$1.01 (August 25th)
Technical Analysis: A downtrending stock trying to find a bottom therefore very risky to be in right now. $1.01 seems to be near-term support but should not be considered strong at this point in time. A solid green day showing accumulation would help put some life back in this stock but until we can break the 20-day SMA with some enthusiasm, I wouldn’t want to be in this stock out of fear of having to hold too long for something worthwhile to happen. A strong news release would be helpful to bring some life into this stock but from a TA standpoint, not much to get excited about.
However, the final few minutes on Friday saw some strong volume come in for the bulls and sometimes that is indicative of a short-term push north over the next day or so. I’d look for confirmation of this move Monday morning.
For requested chart analysis, I simply use technical analysis. I do not combine my analysis with any fundamental view or specific due diligence on the company when building my analysis. Make sure you include all relevant information when making a decision.
Good luck out there,
Mike
At the time of publication, Kudrna has no position in the mentioned stock.
