Bullish potential detected for BWP

Entry conditions:
(i) higher share price for along with swing up of indicators such as DMI/RSI.

Stop loss for the trade would be:
(i) a close below the 200 day moving average (currently $3.43), or
(ii) below the support level from the open of 28th November 2023 (i.e.: below $3.35), depending on risk tolerance.

5 days ago

Trade active

UPDATE (week ending 11-Apr): For anyone who wished to undertake an aggressive trade after the sell-off that occurred in the stock on Monday 7th April, a trade entry signal did occur on Tuesday 8th April as the share price bounced off the 50 day MA, the ADX declined whilst the -DI declined and +DI increased, and the RSI increased on the daily chart. The share price closed above the 200 day MA, as well as both 10 and 30 day MA's at the end of the trading week. Do note, however, that the share price is still testing the long-term prior resistance level noted in the chart above (i.e.: $3.54 from 8th August 2023), which had been respected to the downside on Thursday. As such, the charts are suggesting caution to tighten the stop to under the recent swing low of $3.37 from Monday, which would work well in case of failure of the 50 day MA.

Ivory_Wolf

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Ivory_Wolf

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