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BASI 4+ yr Channel Support + Strong Bull Case
Price has found support at two prior longer term tops as well as the midline of a 4+ year price channel. More recently, stock has broken out of a downtrend and has subsequently found support at the $4 level which is where 3 very important things lie:
1) 50% retracement (not drawn on) of the move up from $3.05 to $4.95 off the 3/23/20 low
2) along a rising support trendline tested 3+ times (3/23, 4/2, 5/12, etc)
3) the 200 day SMA
MACD cross occurred today on twice the 10 day average volume.
All in all, as I have presented it, it sounds to me like a very strong buy case, let's see if I am right.
1) 50% retracement (not drawn on) of the move up from $3.05 to $4.95 off the 3/23/20 low
2) along a rising support trendline tested 3+ times (3/23, 4/2, 5/12, etc)
3) the 200 day SMA
MACD cross occurred today on twice the 10 day average volume.
All in all, as I have presented it, it sounds to me like a very strong buy case, let's see if I am right.
Nota
To add to that, I neglected to mention that the March 2020 low is a .618 retracement of the entire move up from Dec 2018 to Jan 2020.Nota
I even neglected to mention there has been consistent insider buying for a year. CEO and CFO both bought at March lows. You can see for yourself on Finviz finviz.com/quote.ashx?t=BASI
Nota
I still like this one, I would get in on a broader market pullback
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.