******** Still a BUY: Blumont. Share price 1.82. (Just follow the trend, high can go higher.........)

Following up from previous BUY call on 15 Aug 2013. Blumont has defied all odds on a downwards market and continued to trade higher each trading day. Currently trading above the 1.80 new support level.  Immediate resistance level would be 1.84 which it has tested for the past 2 days including today. Very likely to head higher again to 1.90 then Critical 2.00 on this break of 1.84. Can consider accumulating on dips above the 1.80 support level. Those who already have long positions bought many weeks back can still consider averaging up to further ride the uptrend. Do remember to raise your stop loss higher each time it moves higher. Till now, no end to upside in sight just take a ride and set clear trailing stop losses. Still a BUY TILL IT PROVES otherwise.

Stop loss at 1.77.

 

******** Trading BUY: Blumont. Share price: 1.565. (No end to upside in sight yet, JUST FOLLOW the flow ! )

Following up from previous BUY call made on 29 July 2013.  Blumont seems like its uptrend is still very much intact surging to a new high of 1.565. Like to head to 1.60 or even 1.80 to 2.00 in time to come. TO raise trailing stop loss upwards to 1.545. Can consider accumulating more long positions to ride the upside still. Still a positive counter to hold unless it breaks down any critical support. Trailing stop loss to raise upwards to protect profits each time.

 

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

Following up from previous call made on 9^th 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

 

**** Monitor Closely: Blumont. Share price 1.205.

Following up from trading call made 2 weeks ago on June 26, 2013. Blumont has again traded higher and formed a new resistance at about 1.20 level. Has seen it test this level again today and managed to cross above it briefly, touching a high of 1.22 as of now. As long as this as this 1.20 holds as a new support level and Blumont holds above this level, more upside can be possible to 1.24 to 1.26 level. You can see that it is still trending above the 20 DAY MA LINE strongly and buyers will start accumulating on any dips once it nears this moving average support line. A break above 1.30 can see it find a new all time high and trade higher.

Stop loss at 1.18 for short term trades. 

***** Breaking out of consolidation phase possible: Blumont. Share price 1.175

Blumont has been consolidating for about 3 weeks from the 1.07 to 1.13 range. Finally broken out the 1.13 resistance today on higher than average volume. Testing 1.18 currently. Psychological resistance to watch will be the 1.20. If this level clears out, can be the start of new upward momentum to target about 1.30. Those looking for this break out of 1.20 can consider locking in some positions from 1.13 to 1.20 level. Note that it has been hovering above the 20 DA MA (Green line) consistently even during days when markets were sold off hugely which shows that short term uptrend still intact. Like to push up further on strong volume breakout of 1.20 critical psychological resistance level.

Stop loss at 1.09.