BLVN

I'm long on this now with a tight-ish stop.

Looks very much like Blvn is going to 53p. The fall here is dramatic and it just keeps going. There is some positive MACD divergence but all other indicators are poor.

uk.advfn.com/p.php?pid=chartscreenshotsh...NnXip8HzfYeYAEVS8hg=

Minimum 7 point bounce at 53p IMO.

F4T

Food4thought, is that a bull flag forming on your BLVN chart?

ta
G

I doubt it. Firstly, you need an uptrend for a bull flag ;o)

uk.advfn.com/p.php?pid=chartscreenshotsh...vr6oP12EWWzgXt1D4%3D

We now have a lower low, so the short term uptrend has broken down. Next key area is horizontal support at 62.50 and the 61.8% fib of the 56.50 move at a ~62. Might get a bounce here.

If this level goes then there should be a quick retrace to the trend line in the 158 area.
There was a nice double bottom at 62.50 at the beginning of the year so we may see the same at 56.50 as traders will have the former in mind on this share. Support below that is at 53p

The key on all these levels is to watch volume to see when the retrace is bought.
A break of 71 looks a long way away already fro the bulls.

uk.advfn.com/p.php?pid=chartscreenshotsh...Q%3D&symbol=L%5EBLVN

Quick update. Blvn is getting interesting. On the bearish side we have had a confirmed bearish engulfing pattern and a close below the neckline of a somewhat lopsided H&S pattern. There is also bearish divergence forming on MACD. Trade was below 60 today.

Trendline support is at ~58.50 with potential double bottom at 56.50 and 53 below that as we know.

On the positive side, volume Friday was above average, which shows an appetite at the 60 level, where most of the take-up was.

My feeling is that the neckline break will give downside momentum through the trendline but I see the 56.50 area being bought heavily.

I will watch volume on the descent and the RSI support line for confirmation.