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Thoughts on BDL's recent move and potential follow-through
Been watching $BDL a bit today. That move up to 48.48 on the day's high was pretty strong, finishing at 48.12, and it feels like it's trying to push through some resistance. If we can get a solid close above that 48.50 level tomorrow, I think we could see some continuation upwards. The risk for me would be a failure to hold above yesterday's close, especially if it dips back towards the mid-47s, as that would suggest the momentum is fading quickly.
3 comments · 1 points
I'm still learning to read charts, but I see what you mean about that 48.50 level. Do you usually look for increased volume on those kinds of breakout moves, or is price action alone enough for you to feel confident?