A lot of my followers are trying to short pumptarded stocks like AAPL, TSLA, etc.
Having been around during the Dot Com era, I want to let my followers know that pumptardedness can last a long time.
Here's an example, BLDP was in bubble mode for 10 months, took an entire year to collapse and eventually traded around 50 cents before moving back up. And they...
The principles you find here are:
1. The rise looks like the run , i.e. the consolidation (diamond) leads to a proportionate rise vertically.
2. The consolidation can be projected using Fibs from its highest-lowest starting from the breakout level.
3. The sequence of a bubble such as this often follows Hubert Senters' (1-2-3) "bang-bang-pow" formulation where...
BLDP has formed a large curved structure which could be considered a cup and will be my me in this analysis
The handle is yet to form and we will see a retest of the high along the white horizontal line once this handle is complete
Trendline and S/R - let's see if it holds
These guys make PEM fuel cells for marine vessels. New IMO regulations are clamping down on maritime vessel emissions therefore we could potentially see a surge in fuel cell and battery use on ships which would be bullish for BLDP
Ballard Power has been deteriorating for some time in this obvious downtrend. However, we have now a large green candle and with a close above we are over respect averages at approximately 14.20. If you like the sector or the company this presents a great opportunity to get onboard for a swing trade or maybe even intras that present themselves. Good luck to all!
Weekly log chart
The right shoulder is an channel. This pattern can be considered a launching pattern.
The first tattical target is 8.50 levels ( the channel's target level).
H&S =====> target 4.50 levels
Wondering if BLDP is entering an area of support on a weekly and a key monthly support level. Using fib confluence gives us possible area of entry and target above. We see volume to start to pick up but this could be some buyers who entered late in day. This stock moves quick when it moves. Perhaps a gap off open?
Best of luck to all traders and investors!
It broke the descending triangle first and after accumulation price moved up. Today double dip line has been broken too.
Descending Triangle target is around 31$ (0.618 Fibonacci level)
And double dip target is around 24 $ (0.382 fibonacci)
Accumulation is possible between 200 day moving average and double dip line.
We are right before ending a head and shoulders patttern. It seems it could get lower again, but in this case it will offer a new long position, mentioned in the chart.
