Hi Marcos. I guess you know, I go out of my way to avoid anything that could be misconstrued as Investment Advice.
I do that not only on these boards, but also with my friends and family. I really wish some investments were so safe and so likely to be profitable that I could recommend them. Experience has told me, those investments just don't exist, or if they do, I'm not capable of spotting them.
So, here's my standard disclaimer, I am not qualified to give Investment Advice, and I do not give Investment Advice.
I just want to make sure everyone understands that.
Now that's out of the way, here's my take on your question, which I know dealt with the Technical Analysis of the BBD.B chart. I'm comfortable and I think fairly qualified discussing Technical Analysis.
Like you, usually I'm hesitant to buy into anything that has gapped up. I typically look for stocks that have established a move over two or three days, or longer.
I'm looking for something that has established a bottom and has increasing volume to accompany a rising price. Those stocks that suddenly reverse a downtrend to gap up 10 or 20% look great, but they aren't predictable by me, and so I can't trade them profitably, and so I don't beat myself up over them.
This BBD.B chart has a candlestick from Friday that (for me) indicates indecision. That's hardly surprising, as who wasn't feeling some indecision on Friday afternoon. Big market run-up going into a long weekend, for us. Made me nervous.
Since I've been confining my trading to the TSE, I'll be looking to the US (on Monday) for guidance.
On this chart, both the MACD and the Stochastic signals are looking promising. We could probably find a dozen, or dozens of charts with similar looking MACD and Stochastic patterns.
My trading over the next few months will be guided by the US markets. For a stock like BBD.B I watch the Dow more than the Nasdaq. In my next post, I'll show an updated Five-Year Dow chart with that possible Double Bottom pattern developing. If this does turn out to be a Double Bottom, I will be closely watching the indicators for stocks like BBD.B.
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