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BLVN hourly 22/05/13

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I forgot to update this yesterday (I posted it on www.chartsview.co.uk) but it was looking like a bull flag towards the 61.8% Fib to form a higher low.

Low and behold we've had the breakout as news came just at the right time!

What we're looking for here is a close above 73.5p to confirm a 123-low breakout. The initial target from that is 78.5p. The way to trade a 123-low is to go long on a close above the earlier high but the news here has catapulted the SP to 76p already and may have backtested the break of 73.5p. We'll have to wait and see where it closes before re-assessing now.
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Guest Friday, 16 November 2018