BHG finds itself in a rising wedge, price recently struck support where it shows intention of a cycle low. As it tries to move up there is blue horizontal resistance with median of Pitchfork not further up.
To confirm a cycle low price must close above the blue downward slopping resistance and 10DMA, if it meets this & turns down going lower than R544.01 means the cycle has turned bearish with price objective the green support of channel.
To confirm a cycle low price must close above the blue downward slopping resistance and 10DMA, if it meets this & turns down going lower than R544.01 means the cycle has turned bearish with price objective the green support of channel.
Comment:
BHG was rejected at the median line, it has now also fallen out of the rising wedge with signs it has failed the previous cycle low. We can expect price to trend towards the green support.
Comment:
BHG is seeking a daily cycle high and below key resistance.
Comment:
BHG continues to be rejected at key resistance, we can expect it to decline towards the upslopping green line that defines the yearly cycle.