BLL has been good to me the past few weeks -- I think the corrections continues, and that price will continue to respect the previous support points during the climb up as bounce levels, and then resistance. BLL practically became a rolling marble on the previous support until it fell through.
It's currently approaching a price-gap which is acting as a loose support, but will want to get filled. ~$60 is my target short exit, entered at $74.NYSE:BLL (I'll look to see what kind of bounces happen and re-assess putting a new short on, this thing could, and probably should be back at $45)
It's currently approaching a price-gap which is acting as a loose support, but will want to get filled. ~$60 is my target short exit, entered at $74.NYSE:BLL (I'll look to see what kind of bounces happen and re-assess putting a new short on, this thing could, and probably should be back at $45)
Comment:
With price breaking back up through the ~$64.50 support/resistance mark, I'm accepting of the possibility for a longer consolidation like we had from early/middle September through late October. Any daily close above ~$68 would cause me to exit, and I still target ~$60, but it could be mid/late December before price breaks down. (could still be sooner if this is just a momentum bounce off the price-gap)