Blu Labels TelecomJSE:BLU Closed high last week Friday, few cents away from a breakout level. It opened stronger today, breaking the resistance level, the stock is also trading at a 52 week high. Suitable for a long position.
BLU
LPD LPD.axLPD came back and retested the 618 fib common reversal zone.
pushed below support in order to create liquidity.
Will look for a breakout the of the Bo2 line and "Level" all marked on the chart.
If this happens target will be Macro Breakout line before profit taking.
Mid range resistance is worth noting if we get a breakout out.
$BLU $BLU.axvery shallow pullback on the daily chart on low volume.
Expecting an upward move into green target zone.
Energy stocks are hot atm.
The target lines up with the falling wedge target also.
JSE:BLU Blue Label Telecoms Still Grinding Its Way HigherIt has taken some patience but Blue Label seems to be ready for the next push higher. Seeing the buying in November 2020 - see posts showing progression below - we expected a substantial increase. After reaching an area of historic resistance and pullback to R4 we are now again ready to push higher.
JSE: BLU Blue Label Telecoms Significant BarFollowing the signs of strength (SOS) observed in December 2020 - see post below - we have now seen a significant bar breaking out from the back up (BU) to the previous trading range. The markup is now set to get going.
JSE:BLU Blue Label Markup to StartBlue Label has formed an accumulation base (See the previous post below), broken out had a shallow pullback and is now ready for the markup. We are looking for a target of R5 and then possibly R8 giving some potential upside.
JSE:BLU Blue Label Telecoms Turning the CornerBlue Label Telecoms has been having a torrid time of it but we may have turned the corner and ready for a markup. BLU has been ranging from September 2019 but now there are signs of strength (SOS). After breaking above the yearly pivot point divergence in the volume RSI and increase in volume on the way up. The Relative Strength has also turned and is stronger than the market. The backup to the accumulation trading range is also showing a Wyckoff accumulation range and price is now breaking out ready for the markup. The next level should be 500 and with longer-term gains.
BLU Still A Lot Of Ground To Cover But Institutions Are WatchingBLU afterhours runner on Friday. Just cashed up a cool $40 mil. But the institutional positions could be a thing to monitor closely. Such a blown out penny stock now getting some attractive institutions posting 13's
" After the closing bell on Friday, BLU stock jumped from a close of $2.45 to after-market highs of $2.79. Something else to note is that a 13G was also filed Friday showing Steven A. Cohen’s Point72 Asset Management, L.P. holding a position in BLU stock, in addition to OrbiMed Advisors. With institutional interest growing in BELLUS, will it be one to watch, moving forward?"
Original Quote Source: 5 Biotech Penny Stocks To Watch With Recent & Upcoming Events
Blue Energy: BLU.AXWatchlist
Watching break of 7.5 level
Ascending triangle
Volume drop off
Trading above 21EMA
PUMPS brought to you by the Number 2Found some patterns that repeat using this new indicator. The pattern is usually some random number on top (the numerator) with 2's on the bottom (denominator). Following this series of 2's is usually a big huge rally.
This pattern can be found on every time frame.
Here are more charts with the number 2.
I recommend sellingAs you can see in the volume the buyers are out of breath and we have a strong entry of the sellers so I think it will have a trend reversal
BLZBTCBLZ looks like it finding the Bottom
-WAIT FOR STRONG PRICE ACTION INDICATING A REVERSAL
-EXECUTE WITH CONFIRMATION
BLU LongNeed price to stay above fib level, in order for thesis to remain valid
- Volume profile suggest we could see a a retracement to 850+-
