$JSEBWN - Balwin Properties: Short-Term Bullish
Since reaching a peak of R5,34 in January 2021, BWN has has been in a correction.
The correction started to lose downside momentum from July 2021 as the MACD started turning up even though price continued to trend downwards.
Price action was also contained in a falling wedge, which is a bullish continuation pattern, and has subsequently broken out of it.
The MACD has recently broken and held above the zero line, further adding to my bullish sentiment.
enter @ market
stop-loss @ R2,36
Take-profit @ R5,34
The correction started to lose downside momentum from July 2021 as the MACD started turning up even though price continued to trend downwards.
Price action was also contained in a falling wedge, which is a bullish continuation pattern, and has subsequently broken out of it.
The MACD has recently broken and held above the zero line, further adding to my bullish sentiment.
enter @ market
stop-loss @ R2,36
Take-profit @ R5,34
Disclaimer
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.