BPI: wait for the signal

BPI has been going down since we saw it reached 96.45 per share last April. Today it closed at 88.3 per share as it touch the Kumo or Cloud. While this Kumo may protect BPI from going further down, there is still a possibility it will touch the 78.6% Fibonacci Retracement level since we don’t have any bullish setup from our candlestick yet.

For investors who want to add more share, wait a for the signal. A bounce from 78.6% Fibonacci Retracement level has the potential to reach the 127.2% Fibonacci Retracement level

RSI or Relative Strength Index is currently at 30.47

Caveat!

Leave a Reply