Anyone for technical analysis?God help us if technical analysis holds the answer but here is what the tea leaves seem to be saying:
BNC is in a bullish pennant formation. From: https://www.trending123.com/patterns/bullish_pennant.html
This pattern is effectively a pause in an uptrend. The price has moved ahead of itself with a steep rise; therefore market activity takes a break before continuing the uptrend. This pause is reflected in the decreasing trading volume. Similarly, a spike in volume marks the resumption of the uptrend.
It is commonly held that the length of the mast indicates the potential price increase.
If we use May 14-17, BNC went from .25 to .40 = + .15.
Further, pennants take about 3-4 weeks= 15-20 trading days to resolve.
So the murky crystal ball says we are off to 55 cents by next Tuesday (which seems to line up pretty close to the fundamental loan news pending).
My .02
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