For the past 3 weeks, BASE has seen higher volume (accumulation) leading it to break out of an inverted Head & Shoulders Formation (bullish) last week. With earning expected on 6th June, it is likey that it's earnings could be positive. However, whether the recent up move has already factored in a positive earning (and then "sell on news") remains to be seen.
If...
A look at the two largest sell offs in the opening day gives us some data (with decent volume) on market structure.
Only recently have we seen a little buying support around $29-$30, but not nearly enough to consider significant accumulation.
Accumulation could happen in the lower range between $28 - $30 going forward, with the significant possibility of a...