BPRG - 63.00p .. BIOPROGRESS .. I've just viewed this one for someone else, so here is a copy of my thoughts for your information.
The 1 mth 'streaming chart' above is to monitor its progress.
please use the 'purple scrollbar' to view my thoughts below ..
BPRG has been in a steady 'uptrend' for the last 6 mths, and as long as it takes it steady, and doesn't overstretch itself, then the uptrend should continue. Ideally it needs to enter one range at a time, consolidate near the top until it has built up the strength to move to the next.
Its reaching new 'all-time' highs, so there is no historical guidance of how high this stock can rise, but 'warning signals' will usually start appearing when the uptrend is slowing and starting to fail .. I don't see any signs yet.
Its in an excellent position at the moment, situated at the top of the 55-65p range, and sitting on top of the 62.50p MAJOR KEY LEVEL which will provide solid support as it consolidates and builds up the strength to break out and enter the 65-75p range above, if it should fall below this KEY LEVEL for a while, there is a danger of it reversing to a 'major resistance level', which could slow its upward progress.
The signal that its on the move, would be a 'closing price' above 65p, and I would then expect it to head quite quickly towards the next MAJOR KEY LEVEL at 75p. Whether it breaks through 75p, will depend upon how long it 'consolidates' at its present price, and how much strength it has, but I would first prefer to see a further 'consolidation period' just below .. around 72.50p, before attempting to 'clear' the 75.00p level to enter the range above.
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