Monday, July 29, 2013

****** Upward Momentum still intact: Blumont. Share price 1.36

Following up from previous call made on 9th July 2013. Blumont has continued to trade higher on strength and have seen buy ups on any slight dips. Possible to test the psychological level at 1.40 real soon. This counter has been inching up slowly after each consolidation and no sign of weakness in sight as yet. Can consider to accumulate more long positions to ride the uptrend until any reversal signal is in sight. Currently at an all time high after breaking above 1.33 last week immediate resistance formed. Might consolidate from 1.35 to 1.40 before breaking higher so can consider accumulating on any dips as long as support holds.
Stop loss at 1.295

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