There is lot of overhead supply above $21.50 to $22.50. Any down move here will lead to profit taking for 2 to three days.
It just broke out of consolidation on high volume. Looking at developed countries life style, lonely, single, young and old all end up taking vacationing and visiting parks. There are new products in the pipe line, and stock should gradually move higher. It is a food company and not technology, so lot of patience is require for long term investors. A 5% advance a year can be expected in next six moths.
There was short covering rally, after the latest news. In this week, the serious investors will return soon. Folks are busy watching Washington , grid lock and media is giving a good coverage but this will change soon .
There are SEVEN PILLARS OF STOCK MARKET PRACTICE necessary for success.
1. Determine whether the market is in a "bear" or "bull" trend.
Then determine further whether it is a major, intermediate, or minor trend.
TRADE WITH THE TREND!
2. Determine which groups of stocks are the strongest.
TRADE IN STRONG GROUPS FOR ADVANCE! TRADE IN WEAK GROUPS FOR DECLINE!
3. Select the strongest stocks in these particular groups.
TRADE IN STRONG STOCKS FOR ADVANCE! TRADE IN WEAK STOCKS FOR DECLINE!
4. BUY ONLY ON REACTIONS-not on advances!
SELL AND SHORT ONLY ON ADVANCES-not on declines!
5. Place a mental or (if you do not watch the tape) actual stop-loss order of two or three points on your trades.
BE AT ALL TIMES PROTECTED AGAINST POSSIBLE LOSSES!
CLOSE OUT WHEN TRADE GOES AGAINST YOU.
6. Protect your profits by stop-loss orders. Let your profits grow when you see your stocks advancing.
HOLD OUT FOR LARGER PROFITS!
7. Do not hesitate to take your profits; you may be able to re-buy the same stock at lower prices.
SELL WHEN YOU THINK THE MARKET IS DUE FOR A REACTION!
SELL AT THE TOP * * * NOT AT THE BOTTOM
BUY AT THE BOTTOM NOT AT THE TOP
BX Stock rallied on VERY HIGH VOLUME and will most likely consolidate at low volume in a trad
..."It is a food company and not technology, so lot of patience is require for long term investors."?????...seriously? ...a "food company"?...hoo-boy!....altough I agree with your "buy" recommendation, I suggest you do a bit more research on your topic....
Well first of all, I am not a trader, I can trade but prefer to hold for big gains and distributions. BX is moving up, no matter what supply is available. It is moving up on higher distributions and monetization of assets.