BKD continue to move sideways

BKD continue to move sideways while Tenkan Sen line is doing the support for the price not to go down. This support is not too strong though. On the other hand the Kijun Sen line is still moving horizontally at 2.21 which means there a chance BKD will drop to that level unless this line will bend. If we look at the last 26-periods, it will take a week for the Kijun Sen to bend unless price will suddenly move above 2.46 which is unlikely at this time. For those who are still holding BKD, just wait.

Ichimoku elements are still in a bullish setup which means we have a sideways movement with bullish bias on BKD. But in case it will turn sour and break the Kijun Sen line, our next support will be the Kumo.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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