RSI showing extremely oversold. Stop losses triggered on the way down.
Yes, the product missed FDA approval but the company still has strong financials: low debt and lots of cash at hand.
Although BNR is looking bearish on the SMA and MACD indicators, we do see on the RSI that BNR is currently oversold...
The RSI alone is making me bullish on a quick 10-20% profit because the stock can retrace to an upper support level.
This is purely speculative however, as it is entire possible that BNR will continue to drop to a lower support level.
Things to note:
NGL trading below the 50 SMA.. but not too far off
NGL MACD possible reversal in trend to bullish
RSI is average, neither overbought or oversold
Since NGL closed above the support line of 2.37, I am predicting that it will go up and retest the next support line of 2.65. An investor can take a 10-15% profit here.
Disclosure: Not financial advice.
First and foremost this is not financial advice. This is purely for entertainment purposes. I am a beginner learning how to read charts.
It looks like TWOH is setting up for a nice 10-20% trade.
I have identified a possible head and shoulders pattern. Today TWOH slightly broke below the neckline and therefore can breakout to the right shoulder headline within a...
