BPW - 120.50p .. and yet another that has had an incredible couple of years, with a strong uptrend lifting the price up into unchartered territory .. its a pity that I haven't got the time to start another 'BUCK' thread .. cos BPW, DGO, HMSO & BBY, would have all qualified.
The uptrend has been halted by the 125.00p 'major key level', and although the price has reached around 127.50p on a number of occasions during the day, the strong influence of the 125.00p level, has dragged the price back by its 'close'.
Although not very clear, there are a number of 'underlying uptrends' that are forming a 'triangular formation' with this 'horizontal barrier', and as the price is squeezed upwards towards the apex, its only a matter of time before a breakout occurs, and with so much upward pressure, a breakout to the upside is the most likely .. but as mentioned in the previous post, don't anticipate the breakout, wait for confirmation.
Its indicators are showing signs of reversing upwards, suggesting that the price is now entering a 'positive period', during which time it is likely to move back up towards the 125.00p level for another breakout attempt.
.. so watch the price closely if 'buys' start appearing above 125.00p, as this will be the first signal of a possible breakout attempt .. the next strong signal will be 'buys' appearing above 127.50p .. and a 'close' above, accompanied by strong moves and increased volume, should confirm that it is not a 'false breakout'.
If you are following its progress, I would be grateful if you could highlight it on this thread again if the price 'closes' above 127.50p.
