Bearish potential detected for BOE

Detected 19-Apr (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 19-Apr.

BOE represents a potential bearish opportunity should momentum continue and newer lows be made. Suggested to await clearance of support level before entry into trade.

Entry conditions:
(i) lower share price along with swing up of bearish DMI indicator and swing down in RSI.

Stop loss for the trade would be:
(i) above the support/resistance level from the low of 28th March (i.e.: above $4.71), or
(i) above the support/resistance level from the low of 21st February (i.e.: above $4.93), depending on risk tolerance.

Trade active:

UPDATE (week ending 26-Apr): Trade activated on 26-Apr as 10 and 30 day moving averages turn downwards and share price closed beneath the support level established on 26-Feb (the open of $4.45), alongside a swing up in bearish DMI indicator and swing down in RSI.