Daring to put up a piece of short term TA.............. here. I know history is long here and there are many fundamental reasons why targets of some on this bullboard are higher than what, this piece of short term TA suggests.
Fundamentals rule of course but some times a TA picture helps confirm what the informed fundamental traders say.
To the chart discussion:
The chart attached below is a daily chart (each candlestick is one days trading) covering the period March 20 to present. First thing i notice is the fairly big triangle shaped basing pattern that BTR has been developing since March, 2020. This triangle is outlined on the chart with green lines.
BTR has moved essentially sideways withing this basing pattern since March 2020 with some surges upward and subsequent pull backs - all contained within the triangle.
The last three candles are interesting - they form a "three white soldiers" candlestick pattern with the third and last candle of the pattern being the one that completes the pattern, confirming what the "TWS" pattern suggest by also breaking out above the long, long, triangle basing pattern.
The 50 dma is also crossing the 200 dma to the upside, following the move of the price line above both dma's which occurred mid april, 2021.
In my view this is a very bullish set-up. More volume confirmation would be nice but at least the first and last candle of the "TWS" pattern are handily above average for the last 3 months or so.
Short to medium term price target suggested by the price action discussed above is about $2.50 CDN with the possibility of resistance slowing the advance down around $1.60.
Monday should be interesting for BTR! See chart at link below. Highligh the link with a click and swipe - then right click on the highlight and choose "go to...." from the list of options.
https://invst.ly/uwhrb
BG