Kumo Break on BHI. Will it hit near 0.16?

Last time we saw BHI hit 0.13 and speculated that it will bounce (BHI hit 0.13, will it bounce?) BHI made a Kumo Break today sending a strong bullish signal. Current support is at 0.147 while next stop could be 0.153 per share or around 23.6% Fibonacci Retracement level. On our weekly chart we are looking at 0.159 per share and this is based on the flat Kumo which could pull the price up. Remember the reason we give why BHI will rise to 0.142 is because of the flat Kumo

Chikou Span is also in green signal as it move above the price 26 periods ago. RSI or Relative Strength Index registers an overbought level today but with the Marubozu candlestick formed today, I think BHI has just started to heat up.

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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