BKD may correct, opportunity to add more shares at support levels
The bullish sentiment on BKD that we saw last March 15 resulted to a 12.1% rise. From 1.98 per share BKD went up and close at 2.23 per share just enough to stay at 23.6% Fibonacci Retracement level that we draw last time. Is BKD going to continue to move up or it will relax? On daily chart we are looking at a Shooting Star candlestick. This brings a bearish sentiment on our daily chart with the possibility of price moving down if confirmed. A correction to 2.15 per share may happen, that is also to close the gap it created last Friday. Still we are looking at BKD with bullish outlook on both weekly and daily charts. Ichimoku elements such as Chikou Span, Tenkan Sen and Kijun Sen lines are still in the bullish position.
RSI or Relative Strength Index on weekly chart has reached the overbought level.
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