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BAE Systems: Opportunity Of The Year?

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BAE Systems (LSE:BA.): From Dead Duck To Sitting Duck

© Image copyright pdcaris

I note the way that on ADVFN many traders focus on the tiddlers, and that is all very well  if your local friendly neighborhood NOMAD is a functioning human being, or you have the detective skills of Sherlock Holmes mixed with the insight  of Tom Winnifrith. On this basis I would prefer to look at the large caps in general.

Of course, I presume today most traders are kicking themselves on having missed out on the 55% rise in Bumi (BUMI). But rather than going into a sulk it may be best to focus on a situation where after the merger failure with EADS the downside has probably been fully explored down to 320p. Chart wise we have a bear trap rebound from just below the 317p September intraday low, plus bullish divergence in the RSI window. The likelihood now is that while there is no end of day close back below the 316p low of yesterday the upside here will be a “minimum” retest of the 367.5p September intraday peak. Sounds like a pretty good prospect.

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