Yes it's possible to make a reasonable case that BRM will be range-bound (3.40-3.90 levels) for a while until there is some further development re: rail. My key take-home however is that BRM is largely sustaining the gains it has made so far this year.
$4 is setting itself up as the next key resistance point - it has approached this level twice & failed to breach it. If we can break $4 it will likely move quite swiftly to the next key point....which will be???
So what will get us over $4? Maybe we will have to wait for the March Quarterly - there may be further price moving news in that pulication
BRM Price at posting:
$3.74 Sentiment: LT Buy Disclosure: Held