BriaCell broke out of a 3-month downward channel into an upward channel. We are tracking support lines at $4.20, $5, and $5.89, and resistance lines at $9.60 and $10.47. Friday and today shares are trading overextended and coming up to resistance both in terms of channel lines, candlesticks, resistance price at $6.90. Shares are currently trading above the 1st resistance at $9.60, and we will be watching changes in volume to confirm the breakout.
Through utilizing the Stochlistics chart, it appears that the price is overbought and a possible indicator of a return to the pattern. If the channel holds then we will look to retest the $6.90 resistance to see if it breaks out and moves higher into new recent highs.
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