BNASTRA, the coming weeks will be.....Let's analyze BNASTRA using MACD and RSI:
MACD :
* The MACD line is below the signal line, indicating a bearish trend.
* A potential bearish crossover might occur soon, which could signal further downward pressure.
RSI :
* The RSI is below 30, suggesting the stock is oversold. This could indicate a potential rebound.
* However, a sustained period below 30 could signal a stronger downtrend.
Combined Interpretation:
Both indicators are currently pointing to a bearish trend. However, the oversold RSI suggests that a short-term rebound might be possible.
Remember:
* Technical indicators are tools to aid analysis, not definitive predictors.
* Market conditions can change rapidly.
* Always consult with a financial advisor for personalized advice.
Disclaimer: Please be informed that all stock picks are solely for educational and discussion purposes; they are neither trading advice nor an invitation to trade. For trading advice, please consult your remisier or dealer representative.
BNASTRA trade ideas
BNASTRA - Just a 2-cent ideaN wave with E, V, N & NT projection.
NT Projection (1.52): This level is the immediate resistance. The price recently tested this level but was unable to close above it, pulling back slightly to 1.42. If the price breaks and closes above this NT level, it could indicate a continuation of the bullish trend.
The price is above the Kumo, suggesting an overall bullish trend. The Chikou-Span remains above the price, supporting the current bullish outlook. However, the price is testing the lower boundary of the Kumo, so a breakout or rejection in the coming sessions will be important.
The stock recently tested its 52-week high around 1.52, coinciding with the NT level. A breakout above this high would be a strong bullish signal.
Recent price action has seen a slight increase in volume, indicating buyer interest, especially after the pullback to 1.37.
Entry: Enter above the NT level at 1.52 on a breakout confirmation.
Stop-Loss: Set the stop-loss around 1.38, below the recent low and Kumo support.
If the price fails to break above NT (1.52), it may lead to further consolidation or a re-test of lower support levels.
Ascending Triangle
The NT level at 1.52 acts as the horizontal resistance. The price has tested this level multiple times, forming the flat upper boundary of the triangle. This is also close to the stock's 52-week high, reinforcing the significance of this resistance.
The ascending trendline can be drawn from the recent lows at points A and C. This rising support line connects the higher lows, creating the lower boundary of the triangle.
The price is moving within the triangle, getting squeezed between the rising trendline and the horizontal resistance, indicating increasing pressure for a breakout.
An ascending triangle suggests a bullish breakout is likely if the price can close above the 1.52 resistance level with strong volume. The measured move (potential target after breakout) is typically calculated by taking the height of the triangle and projecting it upward from the breakout point.
Entry: Enter on a breakout above 1.52, with a strong daily close confirming the move.
Stop-Loss: Place the stop-loss below the rising trendline support, around 1.38 (or slightly below the recent lows).
Target: The expected move can be projected by measuring the height of the triangle, which is approximately 0.15 (1.52 - 1.37). This would give a target of around 1.67, which aligns with the N and V projections (1.73).
If the breakout is strong, the price may move towards the final E projection of 1.90 in the longer term.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
