BACANORA LITHIUM PLC ORDS 10P

LSE

BCN

deanburtonuk

Purely Speculative I think there is more upside risk than downside risk looking at recent moves it looks to me like it is at the beginning of an uptrend looking to retest the resistance level again hopefully it will break through if momentum builds on the way up. What do you think??? let me know

pjosh1

Weekly chart of BCN - showing a few signs of a potential bottom. 1) Hammer Candle showing rejection of 14.6 level. 2) Double bottom formation. 3) RSI level indicating an oversold condition. Potential Idea- Entry: Market SL: 14.6 Target 1: 37.5 Target 2: 56.5 Timeframe: Long Term - Weeks to Months

vcm11

A good bulk run for anyone who manage to buy at 12p-15p 28p-30p is a good resistance to slice / sell as it will need further news to land to get it to 50p Don't try and chase the stock & expect a bag overnight, all about R / R (Risk / Reward).