It didnt even blink at 150 and went all the way to 162 on thursday only to retrace back to 150.75 on Friday...so the question now is whether it will hold on to 150 tho have another go at 162 to go and settle around 170 for further bigger break throughs...RSI still ticking up suggesting that's possible, once profit taking due to recent sharp rises is over we may see further moves up...the final battle is going to be over 200 of course for BHM to prove it's back to play big...
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Not been in BHM since the heady days of the bubble, but beginning to look interesting. The clear H&S top broke down at around 3500, and gave a target of 958 - surely not I thought at the time, and didn't go short. Oh error!
But now a reverse H&S bottom seems to be forming. The down trend is clearly broken and we've already had one higher low. The neckline has been tested once and now seems that it may be tested again. It's normally risky to pre-judge any type of H&S pattern, and this one could easily fail. But I bought a few today at 176 and whilst it stays above the trend line will hang on in there. If the H&S neckline is broken, then the target is 303.
But now a reverse H&S bottom seems to be forming. The down trend is clearly broken and we've already had one higher low. The neckline has been tested once and now seems that it may be tested again. It's normally risky to pre-judge any type of H&S pattern, and this one could easily fail. But I bought a few today at 176 and whilst it stays above the trend line will hang on in there. If the H&S neckline is broken, then the target is 303.
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How i wish I'd known about log scales.....
I agree with you on BHM, but from a different angle. I see it as a bull wedge, with a target at around the 290 mark.....IF today's sell of at the close was a profit take, then it looks a winner.TA looks a bit suspect but I like the Trend score, and my VCR "bottom" detector gave a huge spike at the last bottom confirming the trend score bottom.I'd still have to wait for 190 break as I don't have B**** of steel as some do......
I agree with you on BHM, but from a different angle. I see it as a bull wedge, with a target at around the 290 mark.....IF today's sell of at the close was a profit take, then it looks a winner.TA looks a bit suspect but I like the Trend score, and my VCR "bottom" detector gave a huge spike at the last bottom confirming the trend score bottom.I'd still have to wait for 190 break as I don't have B**** of steel as some do......