Long
BASI 4+ yr Channel Support + Strong Bull Case
Price has found support at two prior longer term tops as well as the midline of a 4+ year price channel. More recently, stock has broken out of a downtrend and has subsequently found support at the $4 level which is where 3 very important things lie:
1) 50% retracement (not drawn on) of the move up from $3.05 to $4.95 off the 3/23/20 low
2) along a rising support trendline tested 3+ times (3/23, 4/2, 5/12, etc)
3) the 200 day SMA
MACD cross occurred today on twice the 10 day average volume.
All in all, as I have presented it, it sounds to me like a very strong buy case, let's see if I am right.
1) 50% retracement (not drawn on) of the move up from $3.05 to $4.95 off the 3/23/20 low
2) along a rising support trendline tested 3+ times (3/23, 4/2, 5/12, etc)
3) the 200 day SMA
MACD cross occurred today on twice the 10 day average volume.
All in all, as I have presented it, it sounds to me like a very strong buy case, let's see if I am right.
Note
To add to that, I neglected to mention that the March 2020 low is a .618 retracement of the entire move up from Dec 2018 to Jan 2020.Note
I even neglected to mention there has been consistent insider buying for a year. CEO and CFO both bought at March lows. You can see for yourself on Finviz finviz.com/quote.ashx?t=BASI
Note
I still like this one, I would get in on a broader market pullback
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.