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Hey Functi0n...what chart timeframe are you using to delineate...

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Bundy

3,595 Posts.

177

16/05/17

21:52

Post #: 24729030
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Originally posted by functi0n ↑

There is good support at $5, I would like to see this level hold and the share price bounce from here in the next few days. A break of the support would nullify the inverse head and shoulders pattern and the uptrend.

My first target if the inverse head and shoulders plays out--as it has so far is $6.30

The risk/reward for this trade is optimal especially considering the company is growing revenue and margins at a fantastic rate. Fund managers are also taking a very positive stance on BWX in the media and are most likely buying on these dips as we can see from the bounces off intra-day lows. As I said earlier we need to see a bounce here on increasing volume to prove this theory.

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Hey Functi0n...what chart timeframe are you using to delineate the RH&S? Just having problems spotting it.

Can you throw a chart up?

BWX Price at posting: $5.23 Sentiment: None Disclosure: Not Held
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