Post by
IndianSparrow on Jun 22, 2022 11:27am
H&S formation
This most probably will at least complete its H&S on the 1 year chart which is a measured move and can take this down below $6.00 I also pulled the support lines on the 5 year chart and this is now at risk of breaching the upper support line at 6.50 and if 6.50 does not hold, the lower support line may take this to $4.50 level. GLTA.
Comment by
1condor on Jun 22, 2022 11:31am
IndianSparrow...you are going to get take a little heat on the board suggesting BTE could hit 4.50. I believe that is on the low side...but breaking 6 support does seem possible this week. This is a good company but some new headwinds in the sector along with profit taking taking its toll lately.
Comment by
Cobalt on Jun 22, 2022 11:38am
No No No dont project what pattern you THINK will form this is where traders go wrong, stick to the patterns that have completed , there is No right shoulder , Bounced off the trendline going back to Aug I would rahter buy that with a stop below if it breaks , Good Luck
Comment by
IndianSparrow on Jun 23, 2022 11:29am
1 year support is broken. Now testing support line at 3 year. If hat goes, 5 year support line is pointing to a $4.50 level. GLTA