I am no chartist, not at least in the stock market sense of the word, but if you look at the 6 month or 12 month chart for BSA, with its little run up against the market trend this week, it looks like it is attempting to break out of a frying pan, as opposed to a cup.
Back on 22/8/2016 it reached an intra-day high of $0.37, then there was a succession touches at $0.36 between 1 & 5 Sep and then a long period of relative quiescence around $0.32. The volume has also perked up over the last 5 days to boot.
Today it hit $0.365 and closed at $0.36. Not yet a breakout but an interesting move, distinctly against the run of play this week.
Perhaps someone more versed in the arcane arts can say what a frying pan breakout portends and whether a frying pan is as good as a cup.
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