AcolyteTrader

Long idea on BIK

Long
JSE:BIK   BRIKOR LTD
So this trade was not on my radar. $BIK has some volume behind the recent rally however what goes parabolic does sometimes retrace about 50% of its price move. The stock is trading above its EMA200 on the weekly chart. There may be an opportunity to go long with this pullback,currently looking for a setup.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.