BBD.B - Neutral bullish here. Triangle pattern upside being testing while breaking moderate resistance. RSI looks healthy and room to run. Gap overhead. Would like to see some more volume come in however I find it bullish at the moment while mindful of possible false breakout.
A good example of a situation where MFI takes precedence over a simple RSI. RSI shows positive divergence while MFI showing negative money flow.
Looking for a short term bounce but I'd stay away from it long term as they do have considerable debt.
Over the last 3 years, Bombardier Relative Strength (14) has hit a peak of at least 70 **AFTER** hitting a low of 31 or lower. This chart shows roughly the relationship between share price & RSI as well as the "behavior" of these technical tools through the last 7 times this scenario has occurred.
Most would be looking to short here due to the breakdown and apparent short term consolidation happening under the critical price line.
However parabolic move down plus RSI extremely overextended tells me were in for a possible sharp incline. risky and volatile so relatively tight stops here.
Technicals - Bombardier is in a parallel channel. The upper limit and 180EMA are overlapping and form a strong resistance. Price could bounce down, or break above and get a good run-up. If it happens to go up, it could go back to recent highs around 5.40. I am just waiting for a trend confirmation to get into the trade.
Fundamentals - Bombardier made good...