Following two triangle break-outs, respectively Aug10 and Aug11, Barco (BAR) formed a very visible bullish pennant (confirmed as the 38.2 fib retracement level didn't break). However, BAR was still shy of a first overhead resistance at 17.494 (which originated on the 22nd of July). This resistance got confirmed on the 12th of August, with a first attempt to breach...
Barco broke it's 1-month descending trend, with a reversal confirmed around the 16€-mark, clearly tapping into a strong liquidity pool where bears lost against the bulls. The reversal got extra confirmation with 2 easy-to-spot flags (on the 1h and 15m timestamps) that broke upwards resulting in a 6% intraday moonshot.
BAR now poised to break into an older...
