Low Risk Buying Point 21-10-20

After the earning released on 17/8/20. Baby Bunting ( BBN ) is forming a 65days long consolidating base. As we can see in the graph, there are 3 small higher high and higher lower ascending base.

Shirking Volume shows lacks of institutional distribution.

Leading stocks and other retail shares has no signs of reverse signal.

Today closing at 4.76 is testing the resistance of 20days MA and base.

In conclusion, BBN is forming a very low risk buying point at about 3.5% risk, buying point would be above 4.84 and stop loss ideally would be 4.6.
Comment: On 22/10/2020 day high was 4.84, luckily just 1 cent below the buy point and had significant drop the day after(23/10/20). Breakthrough failed, trading cancel until another base is formed.


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