AI
From a technical point of view, (and using your chart) -
#1 Look at the volume - see how it increases during the last run (and even the correction), but has now settled back and looks flat - (albeit more of it than at the beginning of the chart) People are waiting to see what happens - not many want on or off the bus.
#2 The MACD (plots moving averages against each other) - See how the blue line crosses up over the red at each run and back down below the red at each correction? Which way does it look like it's turning now?
#3 RSI - We want to see it come from below 30 (produces the best buy signals) - again, look at it's bottom right before the 04 run and again right before the 06 run - your chart doesn't indicate the value but mine does. It was below 30 when we hit 2.15 in late January. Now at 38.96 -
Technically, I'd say any good news sends BRLC back up to the 3.50 area, maybe even $4, where it will encounter resistance - then another event needs to happen to push it on to 5.20 and beyond. (remember: people need to get on and off the bus at various levels) That said, really good news, or news with multiple positives, can often push the pps through multiple levels, so we'll see how far we get on Tuesday am.
Here's my chart:
#1 Look at the volume - see how it increases during the last run (and even the correction), but has now settled back and looks flat - (albeit more of it than at the beginning of the chart) People are waiting to see what happens - not many want on or off the bus.
#2 The MACD (plots moving averages against each other) - See how the blue line crosses up over the red at each run and back down below the red at each correction? Which way does it look like it's turning now?
#3 RSI - We want to see it come from below 30 (produces the best buy signals) - again, look at it's bottom right before the 04 run and again right before the 06 run - your chart doesn't indicate the value but mine does. It was below 30 when we hit 2.15 in late January. Now at 38.96 -
Technically, I'd say any good news sends BRLC back up to the 3.50 area, maybe even $4, where it will encounter resistance - then another event needs to happen to push it on to 5.20 and beyond. (remember: people need to get on and off the bus at various levels) That said, really good news, or news with multiple positives, can often push the pps through multiple levels, so we'll see how far we get on Tuesday am.
Here's my chart:
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