Boral (BLD) recently came out with a weak report. The market sold the company down from $5.08 to $4.31 and now the company sits just above $4.50. This sell off is the first in a two step sell off. The first sell off has established an inverted or upside flag pattern. This is a bearish pattern with a high probability of success. If BLD breaks below the $4.40 level, there is a strong chance it will work its way down to our downside target of around $3.65.
We will follow the progress of BLD in our next Free Newsletter available from this blog and from our website, www.stpt.com.au
