Bidcorporation still in the Twilight-zone
Updated
It definitely can seem tempting to buy (go long) a stock like Bidcorp as by theory it's broken above the Cup and Handle pattern and the moving averages look great 7>21 >200.
However, it's also good to look at the broader picture of price action. Bidcorp has been moving in a sideways rectangle formation since February 2021...
I think only above R30.00 will give me some semblance of hope of a new bull run... Until then, I'm hesitant to go long.
However, it's also good to look at the broader picture of price action. Bidcorp has been moving in a sideways rectangle formation since February 2021...
I think only above R30.00 will give me some semblance of hope of a new bull run... Until then, I'm hesitant to go long.
Comment
It definitely can seem tempting to buy (go long) a stock like Bidcorp as by theory it's broken above the Cup and Handle pattern and the moving averages look great 7>21 >200.However, it's also good to look at the broader picture of price action. Bidcorp has been moving in a sideways rectangle formation since February 2021...
I think only above R348.00 (Corrected) will give me some semblance of hope of a new bull run... Until then, I'm hesitant to go long.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.