Good entry point for Bell telecommunications, Long term hold here. Currently trending to the upside, Pays significant dividend. Price target of $62 last seen and rejected during the week of Mon 01 May 2023.
Daily chart shows a clear double bottom on BCE. With a high paying DIVI and Elliotts showing it in wave 4 of 5, I expect it to consolidate between the 100sma and 200sma on the daily, before breaking out or down.
Similar situations along the dotted white lines
First situation resulted in a break out
The current situation is comparable just lacking the break out phase
The PEAD projected a Neutral outlook for $BCE after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 77.78%.
BCE has shown moderate growth, but recently price has broken out of this large bullflag that has formed
Growth is about to increase a lot, this is a great entry point
The 200MA is always just roughly below price when it shoots up
We are see a Wyckoff Accumulation unfolding in the BCE. We think a big swing up is coming as Phase E takes shape.
RSI is in an upward trend and sitting at a 65. We are watching RSI closely as it comes to a peak.
Price target near the resistance level of $65.00, we will look to close out the position at that price.
Hi friends
the daily analysis of this market shows that we must wait for the breakout of resistance at the level 54.04 after positioning ourselves as much as the buyer the next objective is 51.99
