BBA has been wallowing around for a while in a trading range of 332 to 358, falling from a recent high of 400 or so in December.There are some useful features on this chart that are worth taking note of.
1: The upper and lower bolinger bands have been narrowing over the last seven days- and indication of a pending price rise.
2:The last 10 weeks has seen a positive divergence in the momentum and ChartMan's XXX indicators.
3: The closing price today has closed 2p above resistance,having resisted strong down pressure during the day and 13p up on Friday's close.The last 3 days has also seen resistance to downward pressure.
So put it on your watch list.Another strong close above 358 should see a confirmed breakout to the upside.
Next resistance up is 384, then 396 and 409.
Don't ask me about "ChartMan's XXXX indicator- it's experimental and supposed to show up non-confrmation.
1: The upper and lower bolinger bands have been narrowing over the last seven days- and indication of a pending price rise.
2:The last 10 weeks has seen a positive divergence in the momentum and ChartMan's XXX indicators.
3: The closing price today has closed 2p above resistance,having resisted strong down pressure during the day and 13p up on Friday's close.The last 3 days has also seen resistance to downward pressure.
So put it on your watch list.Another strong close above 358 should see a confirmed breakout to the upside.
Next resistance up is 384, then 396 and 409.
Don't ask me about "ChartMan's XXXX indicator- it's experimental and supposed to show up non-confrmation.