Going long on BTE. First target is at a 2:1 risk/reward ratio.
Entry below 2.19, stop 1.98 (not as tight as I'd like but it needs room to trade), exit 2.51.
Looking for a long b/s the most immediate low @ 2.04 on hourly and 2.13. However, only a Close above 2.18 on hourly is likely to confirm a short term retrace to 2.50; prior support zone on daily. Here's a look at the short term hourly chart with the bullish divergence signals.
RSI of less than 30 on the daily chart shows a strong potential for a rebound from there level which could learn to a full reversal longer term. Today appears to have been the start of it with significant bull volume and a 6% gain. If we gap up on Monday above $3.15, we'll see $3.49 intraday or Tuesday and bullish reversal will be confirmed. Bears are tenacious...
We're hitting long term support levels just under $3. Last of the stop loses were flushed and we can expect an rebound from here. Let's see if the bounce if a reversal or just a bounce.
Hello Traders, My model has identified a great opportunity in BTE. Targets defined on chart. This is a long term strategy.
TSX:BTE We can see a support level form on BTE at around $4.22 after the Trent down since May, with the increase in volume on the 10th to the 12th we could see a short sell off then due to anticipation of the earnings report the speculators could buy in to follow a $ stage Elliott wave.
Waiting for a deeper pull back closer to 3.50 support. It may flag out for a bit before then.
BTE dropping off of highs. Predict drop to S3 uptrend around 3.55. If fail this is a no go. Would look for rise between R2 and R3 at 5.00. Need RSI to deplete more. Possible Bull Cypher pattern.
BTE.TO was supposed to outperform as long as the price of oil stays above 66$ since December. As you can see, its up by 89%. The could be a potential gap up and shorting opportunity (intraday). If anyone has any suggestions or corrections. Comments are much appreciated as I am always willing to learn.
Intention to break the resistance The same argument as in the last publication, but what is the issue here. When I publish an idea it is usually based on a confirmed resistance breakout from the weekly chart perspective it has to be a fact but in this idea that has not happened yet because I'm speculating. But on the other hand I'm not getting too far ahead in...
in the daily time frame chart we can see the big fall Ended and the new up trend starting and after complete wave 1 in the wave 2 we have abc correction pattern and we can waiting for wave 3 , position can open after break out the minor peak
The MACD is on the verge of crossing over and the RSI has hit an uptrend since going below 30. In my opinion, this has the potential of gaining some momentum.
Watch this 'W" formation is in making.
Watching BTE because it has been forming a flag, stop will be loosely under 5.50 area
Seems that a retest at $5.5-$5.75 will be a good place to buy!