Technically Bap looks to have 20% upside. Plus solid fundamentals to add to the story.
Key Technicals - looking to buy on breakout of ascending triangle with above average volume. Or throw back of breakout.
Key Fundamentals - Growth internationally (TYE SOON aquisition) + New & used car demand remains strong, we are moving around differently than pre...
Upcoming downleg will complete wave (v) of to finish off a correction. Even if it combos there is upside regardless if you catch the end of this correction correctly.
Buy region is ~6.17 - ~6.84, but watch for clear rejection of 6.36 (0.618 of previous impulse). Also note the deep retracement of this (iv), may result in truncated (v). Count internal waves on...
BAPCOR is another company I haven't heard much about in terms of its parent brand but their Retail brands of Autobarn, Autopro, Sprint Auto Parts and Car Parts retail store brands, and the Midas and ABS workshop service brands I certainly have. I recently had my car serviced and it's always surprising how much it costs. In theory it is everyone's largest asset...
Before the market open, the is stock price was just above 13 and 50 ema on the daily, also whats so good about this trade it hit its 61% Fib level. The weekly was also a confirmation on the buy side with the 13 and 50 EMA just below the price. I enter this trade on the 5 min chart on the pull back on the 13 EMA.
-62 Week ascending triangle
-Well defined, horizontal boundary
-Bollinger band contraction on the weekly and daily
Still on my watchlist and will be a buyer above $6 with a break and close. 30 basis points of risk planned
-1 year ascending triangle
-Well defined boundaries
-High volume previous week with price touching both boundaries within the week
50 basis point risk on break, an additional 50 on close above boundary
![BAP: [EW] ASX:BAP targets 1.74 short-term](https://s3.tradingview.com/l/lf7h89VF_mid.png "[EW] ASX:BAP targets 1.74 short-term")
