0QIX trade ideas
Are we going to have a long time with range trading here? I've taken a closer look at BWLPG
As can be seen on the chart, there are two major resistors in the course and I have marked it with orange boxes.
It is not in range, but if you look back in time as shown on the chart, you can see that the price is doing well within this framework (price action)
MACD - is positive and has lots of give of yet and has been in uptrend for a while.
RSI - Is above average and is positive and has also been uptrend since March 24. there are also plenty of give of yet.
Trend line - downtrend from 2014 July to 2020 juii has been broken D 20 Aug 2019 until March 2020 due to Covid19 and therefore smoked below the trend line again, but has now here again broken through in July and is still up above
This stock is moving closer and closer to the MA 200 so this stock might be good to keep an eye on.
If you are in the stock, I would say as long as it stays above price 26 it makes sense and is a team.
This stock is jumping a lot due to its product - it will be normal with many outcomes.
act with care
Disclaimer: im not in this stock
BW LPG buy oppurtunityHi Investors,
If you look at the price chart of this company for the last 3 years it might not impress you.
Also, now might not be the best time to open a buy position, but what we can see from a technical perspective - is forming a flag pattern, which usually ends up in breaking support or resistance lines.
Both ways are good for us as if the price goes up and renounce and close higher then 40 - most likely the upward trend will continue, otherwise 27$ will work as a support level.
In any case, I'm going to buy now and add more funds if the price goes down, because of one fundamental reason: 20+% dividends, treat this as your bank deposit.
Profits everyone!
Regards,
InvestMan