BPRG - 53.00p .. sorry you had to wait so long for a reply.
I see that BPRG has been getting quite a few mentions recently, so now is the ideal time to view its charts in detail .. and I have to agree with HAMBI's recent comment that ".. it could be in for a very interesting week".
The 2 mth chart below shows that the price has been retracing for just over a week, and the falling indicators show that the price is in a 'negative period', during which time further retracement is likely.
HOWEVER .. these are 'trailing indicators .. and the chart shows that the 'selling price' has now reached the strong support of the 50.00p psychological level, and is about to be joined by an 'underlying uptrend' .. and I reckon that these combined support levels, will stop the retracement, and will start lifting the price during the week.
This view would appear to be corroborated by the intraday chart below, which shows that on Friday, the price broke through its recent 'overhead downtrend', so it looks as though it has already started its upward move to try and tackle the 60.00p level above.
In one of my previous posts on BPRG, I pointed out the significance of 60.00p as being an 'historical pivotal' level to its next range above. Regulars to my posts will be aware of my obsession with the 25.00p 'major key interval levels', so if the price can break through and hold above 60.00p, then I would expect its next target to be the 75.00p 'major key level' above.
.. and viewing its 'historical chart' below, a range of around 60.00p - 75.00p, does appear to feature quite strongly in the past, which tends to support my views.
Although most of my thoughts above point to some good upside potential during the short term, the 'negative side' cannot be ignored .. so if the price should 'close' below its 'underlying uptrend', or below the 50.00p 'psychological level', then this would indicate that something has possibly gone wrong, and it should be treated as a 'strong warning' of possible further retracement.
As usual, just the unbiased thoughts of a non-holder.
