Worth dusting of the charts for a closer look here as the broader EV sector starts to heat up once more and BKT looking likely to deliver on a Posco capex prepayment + offtakes + FCI in the near term.
Price action is starting to look quite constructive once more...
Daily - short term
Price action grinding its way high slowly absorbing the supply from the last few months.
Once 15.5c is cleared, 17c will be the next stop on its way to a run back to 19c. Price action back through interesting SMA levels and making a move to the topside bollinger band. If it can close above the topside bollinger band we can expect the price to move hard and fast.
MACD finally back at the 0 control line and trending positive. As the MACD moves up through the 0 control line, this usually sees price action heat up! Plenty of room to move on the RSI before any over bought signals arise.
Weekly & monthly setups also looking quite constructive, however don't have the time to go into detail.
BKT, page-619
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