It definitely can seem tempting to buy (go long) a stock like Bidcorp as by theory it's broken above the Cup and Handle pattern and the moving averages look great 7>21 >200.
However, it's also good to look at the broader picture of price action. Bidcorp has been moving in a sideways rectangle formation since February 2021...
I think only above R30.00 will give me some semblance of hope of a new bull run... Until then, I'm hesitant to go long.
However, it's also good to look at the broader picture of price action. Bidcorp has been moving in a sideways rectangle formation since February 2021...
I think only above R30.00 will give me some semblance of hope of a new bull run... Until then, I'm hesitant to go long.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
However, it's also good to look at the broader picture of price action. Bidcorp has been moving in a sideways rectangle formation since February 2021...
I think only above R348.00 (Corrected) will give me some semblance of hope of a new bull run... Until then, I'm hesitant to go long.