Bombardier appears to have found a base in its current channel and is potentially setting up to retest recent highs. Reasons listed below:
Reasons:
- Price has held above the $3.00 level which has acted as a major level for many years
- Price is now sitting on the 100MA, which has acted as a significant dynamic support level in the past
- MACD has gone positive
- RSI turning over above moving average
- Bullish Divergence on the MACD
Waiting for a breakout above the other shown moving averages, then going long.
Reasons:
- Price has held above the $3.00 level which has acted as a major level for many years
- Price is now sitting on the 100MA, which has acted as a significant dynamic support level in the past
- MACD has gone positive
- RSI turning over above moving average
- Bullish Divergence on the MACD
Waiting for a breakout above the other shown moving averages, then going long.