BKW trade ideas
BKW @ 20 SEP 2021Text me if you have any questions/comments for me.
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BKW
- First time doing a written analysis on BKW
- In last night’s livestream, I mentioned that 25.00-25.50 levels used to be a resistance zone and it will be interesting to see if the stock can rebound of this zone and treat it as support
- Today’s price action suggests that’s not the case.
- Stock gapped down and fell to the mid-term support
- Short-term average doesn’t provide a good support and/or resistance
- A successful rebound will be above 25.50 levels
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful rebound before plotting entry
BKW - Bullish Flag + Ascending TriangleBKW looks a high probabilty trade here with limited down side.
Technicals - Looking for trend continuation from throw back of the ascending triangle breakout + nice confluence with bull flag.
Fundamentals - High demand this part of the cycle for building products + management whom have an outstanding track record of raising dividends will likely navigate the inflation coming through advantageously for BKW shareholders.
$BKW trade set-up long off supportHeres my trade set-up today, bought 603 units $BKW:ASX at 16.5 on this dip. Im going off the higher lows trending north and price being at the bottom of this smaller symmetrical triangle. There is a longer term diagonal under this also. I figure there are reasonable odds for some upside here, however as always, trades can go against us so risk management in place if it heads south. Not financial advice.