BOMBARDIER LOOKS READY FOR A BOUNCE OVER THE NEAR TERM

I think you're onto something here. Here is an excerpt from the Globe and Mail:

"Elsewhere, calling the recent sell-off in Bombardier shares “extreme,” CIBC World Markets' Kevin Chiang kept an “outperform” rating and $5 target. Mr. Chiang said: 'Q3 earnings season was unforgiving for a lot of companies but no more so than for BBD. BBD is a higher-risk investment but the recent sell-off is, in our opinion, overdone. We continue to forecast BBD hitting its 2020 FCF target of $750-million to $1-billion and its improving liquidity position should help alleviate concerns over its absolute debt levels as we look past 2020.' "

Moreover:

Desjardins Securities analyst Benoit Poirier sees Bombardier Inc.’s (BBD-B-T) current valuation discount to its U.S. peers as “unjustified” and recommends investors buy its stock. Mr. Poirier maintained a “buy” rating for the stock and $5 target. The average is $4.61.


More fuel on that fire. Seeing $3 before the RSI hits 70 is indeed possible.

@mastadex, Thanks for your comments as well as the additional info you provided here. I'm even surprised to see this move over the last couple days so aggressive. I see RSI has already climbed to 41 as I type. $3.00 definitely looks doable in the near term.

@snoooop40, in the near term, I expect we will bounce off the $2.77 resistance and form a bull flag. It could be a sure-fire way to get some extra gains, if you're confident that $3 will be reached in the short term. I'm definitely bullish on this.