BSM daily - possible bullish move
BSM daily - is on side of the falling wedge pattern which is a very bullish pattern . The last several days' volume decreased while we are at BigRed (200 days MA) which indicates a strong move.
BSM is below all major MA, while volume is pretty low the last few days.
RSI is neutral with slight bullish divergence , meaning price is falling while relative strength is not what is a very bullish indicator.
MACD is oversold, the MACD histogram is ticking smaller and smaller red ticks while the MACD line is trying to cross the signal line which could signal a strong move bullish move.
Overall: BSM is bullish fundamental stock and that is why I would trade it only on the upside. Be aware tomorrow is the CPI report so strong moves are likely. Closing day above the blue upper dotted line would trigger a long position with stop loss below today's low.
BSM is below all major MA, while volume is pretty low the last few days.
RSI is neutral with slight bullish divergence , meaning price is falling while relative strength is not what is a very bullish indicator.
MACD is oversold, the MACD histogram is ticking smaller and smaller red ticks while the MACD line is trying to cross the signal line which could signal a strong move bullish move.
Overall: BSM is bullish fundamental stock and that is why I would trade it only on the upside. Be aware tomorrow is the CPI report so strong moves are likely. Closing day above the blue upper dotted line would trigger a long position with stop loss below today's low.
Trade closed: stop reached:
Trade is stopped at 16.47.
Expense trade - entry 16.67 and exit 16.47.
Expense trade of -1.2%
Expense trade - entry 16.67 and exit 16.47.
Expense trade of -1.2%
Consistency is the key of success....