BUR: (Descending Triangle) Continuation Pattern Almost Completed
Updated
structural notes:
- more and more institutional investors are entering (pension funds and other long term money managers ) confirming wyckoffian analysis
- more sell side analysts are initiating the name at upside buys (meaning they can add in their private wealth accounts)
- some strong catalysts coming up that can uplift the name (retail investor call in mid june)
technical notes:
- the descending triangle is not complete but I think it will be soon; have to buy the upside breakout
- the upside target of the descending triangle points to the initial target of the first point and figure price target of 17, this would put a price on burford at about 2 p/b (which is comparable to other names - but doesn't necessarily mean it will stop there- some value holders will sell tho)
- more and more institutional investors are entering (pension funds and other long term money managers ) confirming wyckoffian analysis
- more sell side analysts are initiating the name at upside buys (meaning they can add in their private wealth accounts)
- some strong catalysts coming up that can uplift the name (retail investor call in mid june)
technical notes:
- the descending triangle is not complete but I think it will be soon; have to buy the upside breakout
- the upside target of the descending triangle points to the initial target of the first point and figure price target of 17, this would put a price on burford at about 2 p/b (which is comparable to other names - but doesn't necessarily mean it will stop there- some value holders will sell tho)
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