JSE:BLU Closed high last week Friday, few cents away from a breakout level. It opened stronger today, breaking the resistance level, the stock is also trading at a 52 week high. Suitable for a long position.
LPD came back and retested the 618 fib common reversal zone. pushed below support in order to create liquidity. Will look for a breakout the of the Bo2 line and "Level" all marked on the chart. If this happens target will be Macro Breakout line before profit taking. Mid range resistance is worth noting if we get a breakout out.
very shallow pullback on the daily chart on low volume. Expecting an upward move into green target zone. Energy stocks are hot atm. The target lines up with the falling wedge target also.
It has taken some patience but Blue Label seems to be ready for the next push higher. Seeing the buying in November 2020 - see posts showing progression below - we expected a substantial increase. After reaching an area of historic resistance and pullback to R4 we are now again ready to push higher.
Following the signs of strength (SOS) observed in December 2020 - see post below - we have now seen a significant bar breaking out from the back up (BU) to the previous trading range. The markup is now set to get going.
Blue Label has formed an accumulation base (See the previous post below), broken out had a shallow pullback and is now ready for the markup. We are looking for a target of R5 and then possibly R8 giving some potential upside.
Blue Label Telecoms has been having a torrid time of it but we may have turned the corner and ready for a markup. BLU has been ranging from September 2019 but now there are signs of strength (SOS). After breaking above the yearly pivot point divergence in the volume RSI and increase in volume on the way up. The Relative Strength has also turned and is stronger...
BLU afterhours runner on Friday. Just cashed up a cool $40 mil. But the institutional positions could be a thing to monitor closely. Such a blown out penny stock now getting some attractive institutions posting 13's " After the closing bell on Friday, BLU stock jumped from a close of $2.45 to after-market highs of $2.79. Something else to note is that a 13G was...
Watchlist Watching break of 7.5 level Ascending triangle Volume drop off Trading above 21EMA
As you can see in the volume the buyers are out of breath and we have a strong entry of the sellers so I think it will have a trend reversal
Looking to go bullish on this stock toward the resistance.
BLZ looks like it finding the Bottom -WAIT FOR STRONG PRICE ACTION INDICATING A REVERSAL -EXECUTE WITH CONFIRMATION