BRN - Technicals and Fundamentals Aligning For a Nice Run Long
Barnwell Industries, Inc.Arca
Description
⋅ Reasons to be bullish based on technicals as shown on the chart:
- Bounce off of EMA 200 at the end of April
- Strong accumulation trend shown on CMF 20
- As of July 6, lingering in oversold territory on the RSI histogram
- Relative volume on an uptrend
Reasons to be bullish based on fundamentals:
- Crude oil’s recent resurgence
- Recent insider buying
- Low float, with retail investors beginning to buzz the stock