BGL trade ideas
BGL long positionBGL is moving in to parallel channel. I am expecting this to break out this channel upside. The gap created on Friday has been filled. If the break out happens than 18 can be good first target.
Bullish on Monthly TF.
Closed above 50% fib level of entire rally.
16.25 - 16.30 is an Important Resistance Zone.
Beautiful Morning Star Formation at Golden Pocket.
Around 13, there can be an Important Support level.
BGL Flag Pattern Set UpBGL Flag Pattern Set to Surge: Targeting 18.25 with Key Entry Points and Stop Loss
Are you ready to seize a promising trading opportunity? BGL is forming a classic flag pattern, signaling a potential breakout that could lead to substantial gains. The stock is currently consolidating within a parallel channel, presenting a prime entry point near the lower boundary of the flag around 11. As the pattern unfolds, the first resistance level to watch is around 14, with a potential surge targeting 16.70 and then 18.25. To manage risk, set your stop loss at 9.50. This well-defined setup offers a structured approach to capitalize on BGL's potential upside while protecting your investment.
Key Points:
Entry Point: Around 11, at the lower boundary of the flag pattern.
Resistance Levels:
Initial resistance around 14.
First target after the breakout at 16.70.
Ultimate target at 18.25.
Stop Loss: Set at 9.50 to manage risk.
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BGLWe can attempt to buy BGL from specified level as it break last LH , also there is bullish divergence indicate that it move upward.
SL , TP mention in chart
It has to Cross & sustain 10.60 for Upside Move!It may touch 10.10 and drop again.
However, 9 is an Important level which
if broken , we may witness 7.70 - 8
Also note that there is a Strong Support
around 7.50.
It has to Cross & sustain 10.60 for Upside Move!
BGL - HIGHER HIGH AND HIGHER LOW#BGL - HIGHER HIGH AND HIGHER LOW!!
▪️Resuming the uptrend after a 17% decline.
▪️ Stock likely to test the 1-Y Long Upper channel resistance Area b/w @ 13.88 - 14.60
▪️Key resistance @ 12.75.
