Generally trade stocks in strong trends, but the turnarounds can be good as well. Strong price action starting in March, with a cup and handle type formation. Provides for a decent reward: risk with a stop loss near $4.60/50.
Price needs to break and hold above $5 to signal another advance.
Stock is breaking out of consolidation with considerable short term gains ahead. Price momentum is bullish with a short term spike likely to subside for another round of consolidation range bound 5.08 - 5.20.
Long term parallel resistance $4.29 was broken
Broken short term UT,
Death cross 5EMA and 15EMA
Next support $4.0
Must hold level $3.85
overall short term bearish and long term bullish if it holds $3.85
Some interesting set ups in canadian energy including this double bottom. BIR.ca in particular is sitting around the same prices it was at when oil was under 30. Possibly some big value plays if oil can stay above 60 or continue uptrend and even get above 70