RE:Shorters on the Run - good jobAgreed 11, would like to see increased on volume traded today at ask to continue the push since BIR is again bumping resistance 3.05 - 3.13 on all 5 time charts I run. Depth pretty skinny so jury is out for me whether this will fall apart on the day.
I have the short dollar volume traded the last 6 weeks still slightly less than 50% so shorts may indeed still win the day on average volume IMO, but it appears it is approaching a crux as you suggest.
Hold now above 3.00 sets BIR up with patience into first quarter numbers. An increased push on ask volume clear of 3.15-.20 would present potential breakout
If 1st quarter report presents the glowing numbers we hope to see then there is a clear path technically to see a run to a new high in the 3.65-3.75 area.
Bank Anal-ysts not doing any favors here with conservative targets as I believe BIR will continue to trade at a 20% discounts of target average until of course the debt reduces at accelerated rates.
All IMO, patience remains focus, cheers.