technical chart is obvious. we will rise at least to the first fib line. next week is the quarter report and based on the fundamental news of reopening airlines, it is good time to observe it and buy when hits low.
We are in unique times and Bombardier has been a forefront name to Canadians for a long time. During this pullback we have been outside the 4 hour BB twice, once on the drop March 18/19 and once after the big bounce on March 26. We are now coming back to the low of 52 weeks ($0.38) with the 4 hour timeframe nearly outside of the BB and the hourly in oversold...
Hammer printed on daily touching 1 year trend line, slow uptrend after printing hammer forming an asecending triangle pattern with increasing volume going into earnings. Possible upside breakout after earnings report.
======PRICE TARGET $1.68=======.
======ENTRY LEVEL $1.65========.
COMPANY PROFILE
Bombardier, Inc. manufactures planes and trains. It operates through the following segments: Business Aircraft; Commercial Aircraft; Aerostructures and Engineering Services; and Transportation. The Business Aircraft segment designs, manufactures and provides aftermarket support for...
Gap up Monday Morning,
A test of Resistance $2.15
A bounce off and back down to test Support $2.00
Support fails and signals continued down trend
Downtrend also fails and traps those who short at break of support.
Price heads long @ $1.75 Start of long term uptrend Monthly Chart time frame Entry on the D1 chart.
