Bullish potential detected for BWPEntry conditions:
(i) higher share price for ASX:BWP 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.
BWP trade ideas
BWP Long - Come for the long exposure, stay for the snags-86 Week Ascending triangle forming
-50SMA/200SMA bullish signal
-3.21 has become an area of congestion for the past month with very attractive bollinger band squeeze on the daily
- Could be an asymmetric R/R opportunity for pre-positioning of larger pattern completion
30 basis points planned