BEL is trading within this bullish channel for almost 5 weeks now. Every time the bottom channel support has been hit, BEL has made a new strong move upward. This trade is based on that exact idea.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.