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balanar_NS

Possible sideways channel

BOMBARDIER INC (TSX:BBD.B)  
balanar_NS Updated   
TSX:BBD.B   BOMBARDIER INC
Trend Analysis Chart Patterns
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trendanalysis chartpattern
The 50 MA has been tested twice during this consolidation phase which is in the $3.15 area. The $3.70 area has acted as a resistance twice. I am looking into entering around the $3.20
support area with a bullish candle confirmation, bullish MACD, and near oversold RSI.
Comment:
It looks like it went above the resistant line. Awaiting for a bullish candle that is above the resistant line to help identify if this resistant line will act as a new support line. MACD shows bullish. Force index is bullish.

However, I would not enter right now because the stock looks like it's going to be over bought because the incline of price is more than 45 degrees.
Comment:
I will buy on the next retraction to the support level which I strongly believe it's the 50 MA. MACD bullish momentum. Force index appears to be bearish.. not enough data to make a conclusion about it.
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