Tech analysis query?

[Blik]

Can anyone who has a bit of technical analysis savy or sous, please let me know what they think about BDM at the moment. There seems to be a bit of resistance and the price has been holding, testing the 24 - 26 barrier. Only technical analysis - am not interested (for this post) in any fundamental thinking about BDM. I am also not buying or selling.

[Blik]

Does anyone see BMD breaking the 3 short downtrend line (fan principle) from the 10th Mar price of 75? Or am I smoking some of the good stuff?

[Major]

They've just announced a hugely dilutive rights issue priced at 12.5c, so that'll cap any upside for now and complicate tech analysis.

[Harathke]

Exactly the point.. Technicals are influenced by fundamentals, but fundamentals don't give a rats-ass about technicals.

[SimonPB]

technicals are not influenced by fundamentals .. rather after the fundamentalisst have done all the hard work the technicalist can see their thinking in the chart ..

[kwagga]

here we go again. I for one use both - why ? Because it reduce risk. I need to get a warm fuzzy feeling before I buy, and I can't get that from technicals alone.

[Blik]

I certainly dont want to rehash the debate - not the aim. I just want to see if what I see on the chart is kind of correct - being a tech dumbass and all. I am aware of the rights issue - but irrespective of what it's going to do, I am not going to buy - I have enough BDM already, and it doesnt form part of my long term plan.

[Blik]

As I understand it - and I could be completely off mark. For the Rights Issue, each shares will be issued at 12.5 per share at the ratio of 2.31 to each single share owned. Brait has offered, subject to conditions, to underwrite a portion of the rights offer, and BDM is in the process of finalising the terms.