BRS - Bristow Group

Do we have the 1-2-3? I think (chart wise) this could rise, but on fundamentals I remain unconvinced. Opinions welcome.

Thanks Trendfriend.

Today saw a +10% intraday move but retreated from both the 12.80 resistance & (down) trend line, closing 6% up and above the 50 day MA. Lets see what happens next???

Nice Analysis and chart. You could well be right, this has been bearish long term, but i think it could be looking to turn soon imho...

BRS. weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...nSYTxTfvhyg5NDX8M%3D

Clear downtrend, from around $80, down to around $10.

BRS daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...3yQsQ2iPxGitzU6+iwE=

The red support line at around $10.80/ $10.5 area, looks to be a basing taking place. Only one break below this down to a low of $9.50, which looks to be a bear trap break.
That drop to $9.50 area was quickly bought into, this could indicate strong support below $10.80.

The basing at $10.80 has been taking place since since Feb, and the longer the period of basing the stronger the bounce up when it eventually happens.

I think this stock should could have bottomed and a bounce to $15 to $18 (200 day ema line) area is possible. this looks to be a buy at that $10.80/$ 11 area.
Cautious buyers would wait for a weekly close above the 50 day ema line.

A move above 12.50 area would be a 1,2, 3 low breakout as well.
Only a close below the August lows would delay the recovery argument imho.

Hope that's helpful all the best.
imho, dyor, wdik
Trendfriend

Ah Trendfriend, put me on the spot why don't you!

Significant downtrend (business is inextricably linked to oil industry)

Trading in a narrower and narrower range

Is below the 200, 100 and 50 MA, the latter appears as the most resilient resistance

Below the trend line

Low volume

A break above 1180-90 with a retest could see it go higher, although all I see ahead is resistance (and fundamentally I see little reason for this to occur, as per my first point)

But, what I think we see, not drawn on my chart is a consolidation pennant, and I expect a break below....

Hi Austin,

I can my view, but why don't you have a go first??

You've quite a lot work on the chart already!

atb,
Trendfriend

Anyone able to provide guidance on what you think might happen with this one?