BNB - Babcock & Brown

[prana]

Bringing this back into the spotlight. I have no issues with the fundamentals, big fan of the sector and the business. I'd like to know if any technical chartist opinions on the wedge formation that appears to taper to $26.80 mark. Are there are indications of the direction this breakout will be ?

Not that it really matters, I'm a long term holder but curiosity kills the inquisitive ....

 

[Go Nuke]

I bought in at $27 but then got out at the high $26's.

I bought based on the high buy reccomendations through Commsec, but was put off with its slow advance up.

I'm no tech chartist but I personaly think it could go either way at this stage.
Very tight cosolidation going on with the MA's.
Volume has dropped off though.
MACD is almost into the positive territory.

I wouldn't look at BNB till I knew which way its going to go.
Thats my thoughts anyway

 

[2BAD4U]

I'm only new to charting so do with my observations what you will, however my indicators are still showing weakness in BNB. The main one being that price and volume have been moving in opposite directions (a bearish sign). At this stage I don't see a reversal and am expecting it to break the lower support line on Monday but will wait to see the candle formation and volume before making a call on if it is a break or a test of supply.

Cheers
Warren

 

[VViCKiD]

Man !!! this one is really getting hammered !!!
anyone have any comments ????
I am wondering if I should sell out and accept my 10K loss...

 

[roland]

Man !!! this one is really getting hammered !!!
anyone have any comments ????
I am wondering if I should sell out and accept my 10K loss...

yep - I've got a comment I am extremely unimpressed with BNB - sold the last of them today and put 'em into something that's going to pay some decent dividends. If this wasn't a friendly and repectable forum I probably would add a few cuss words here and there!

 

[DowJones]

I think BNB is a great company, trading at 27 only a couple weeks ago. The credit crunch and weaker US economy has caused sentiment on leverage companies to fall dramatically - i.e. Allco, Mac Bank, Challenger and Babcock.

Ageis has a BUY recommendation and a 12 mth target $37.44... It has potential but may not be the best value stock or that is going to rebound quickly

Even the baby is being thrown out with the bath water...

 

[DowJones]

I actually topped up and bought somemore today at 21.xx... now it lower, you can never pick the bottom!!

So many 'cheap' stocks, not even dough placed on the side...

 

[roland]

I actually topped up and bought somemore today at 21.xx... now it lower, you can never pick the bottom!!

So many 'cheap' stocks, not even dough placed on the side...

If I had some dough on the side, I would have done the same thing. Unfortunately I had to use BNB as my dough on the side for other opportunities - ho hum

 

[VViCKiD]

Yeh same. I topped up @ $22 just 2 days ago.
I was cheering yesterday and now i am all depressed bout this stock..


$37 price target ? man... that seems a bit high.

 

[DowJones]

I think the target is a bit rich as well. Maybe $30 is attainable, but with the market shape as it is, it will take time.

BNB still has no issue raising capital for its infrastucture projects and they recently sold some infrastructure to a European buyer.

 

[mrgroundwork]

BNB typically rises as quick as it falls... so will be nice to catch the rebound...

i checked bloomberg terminal yesterday and consensus on all the major analysts recs was a 12mnth target of low 30's...

 

[roland]

BNB typically rises as quick as it falls... so will be nice to catch the rebound...

i checked bloomberg terminal yesterday and consensus on all the major analysts recs was a 12mnth target of low 30's...

I agree, problem is that at 21 bucks or so a share, it ties up a lot of capital. I tried to hold my BNB, but a thousand BNB = around $21,000 which is a lot of small cap buys - I sold BNB, not because I don't have faith in BNB, but because I needed the dollars. Damn shame really

 

[VViCKiD]

I agree ... if i had more capital i would like to pump in more @ $21 a share...
I am holding gold and oil stocks... i am thinking of selling some of my other stocks for BNB...

I am hoping to hold on long enough to receive the divies...
wat does everyone think the divies might be ?

 

[barnz2k]

they are still buying up, and im sure I saw an article yesterday about how they are even less effected by the subprime issue than noted before, but I cant see it now. So that should be a good thing!

I have faith in BNB and still hold, but damn its getting harder and harder to keep the faith!

 

[VViCKiD]

I agree... would you be able to tell me when those price forecasts were made ??

I mean in light of what's happened, it seems like that is really hard to see happening...

 

[VViCKiD]

can any body tell me why this stock is getting ridiculously hammered ?
It has dropped 50% in the last few months !!
that is insane !

 

[tronic72]

Could be worse. Have a look at todays action on AFG. 27% last I looked. Glad I sold all my stock recently, was getting to risky with all the Sub Prime uncertainty.

Risky times.

 

[ged]

its got an bid for $19.06 atm, sounds like a bargain?

i held this stock about 10 months ago, and got a ride from $26 all through to $31 then sold it taking a small profit, and watched it crash to $18 in july, but it sure did recover quick. seems its back at $18. might see what happens at the end of today and decide tomorrow if i should pick it up again.

 

[Go Nuke]

Yes I was just wondering that myself...Hands up who's game to think $18ish is the bottom???:bounce:

The "buy" recommendation on Commsec has not changed 1 bit over the last couple of months.
I think perhaps people will wait and see what BNB does with this port business in the U.K first.

 

[L plates]

Down 14.4% on the open !!!!
This is utter madness
This company has been going from strength to strength
Complete panic
Madness