You borrowing IJ's rose-tinted glasses?
BRL is in a downtrend and descending triangle formation. If the downtrend line broke on high volume then you could say it was bullish. However, as I pointed out last week, very blatantly, the SP again failed (3rd time) to breakout. That strengthens the overall trend.
I would like you to cite why you think the chart looks bullish, utilising known indicators and reasoning.
Here's some homework for you on descending triangles: http://stockcharts.com/school/doku....art_patterns:descending_triangle_continuation
NB - These are continuation patterns (ie the current trend is down, therefore it is more probable that the trend will continue negatively)
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Last
78.0¢ |
Change
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Mkt cap ! $149.2M |
Open | High | Low | Value | Volume |
75.0¢ | 78.0¢ | 74.5¢ | $14.06K | 18.55K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4234 | 75.5¢ |
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Price($) | Vol. | No. |
---|---|---|
78.0¢ | 9139 | 1 |
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No. | Vol. | Price($) |
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2 | 1215 | 0.630 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.780 | 9139 | 1 |
0.785 | 3532 | 1 |
0.790 | 10000 | 1 |
0.800 | 42871 | 2 |
0.815 | 6538 | 1 |
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