BAM


This is the past 9 yrs on BAM with a monthly time period. As we can see, we are in an overall downtrend. Though I do not show this in this chart, if we take the Fibs from the very high point, which is about 42.50, and the low point of where we are right now around 11.30, it's currently in the 28.6% pullback, which is not a normal setting I have on my Trade Navigator.

I no longer pay for stocks or options on Trade Navigator and use the free version of Think or Swim. So, these charts look different than my Futures charts. Yes, Trade Navigator is much nicer than the Prophet charts, however, I don't believe one should waste money and pay for things one is not using. That would be wasting $68/month, which is more than the datafeed I pay month.

That aside, as it pulled back to 28.6%, it's now coming back down.

RSI is still bearish, even though the downtrend in RSI was broken, where it paused between the 12.50 to 17.50 range. But, it looks to be headed back down.

Volume is showing weakening of bearishness, but bullishness hasn't overridden the prior month's strength. So, if we have strong bullishness, but price action isn't marching up too much, be cautious here.

MACD is losing strength in bearishness, but it can do this during a pullback.

If price action closes below the $11.34 area, I would see $5 as the next target, then $2.50.


We've had 2 strong bearish days, really strong. Check out volume. This second chart is 6 months, daily. Though Thursday (not shown) is a doji day, after 2 strong bearish days, it's normal to hesistate (rest). MACD, RSI, Volume, and Price Action all show bearishness.

Where would a target be? 14, 12.50, 11.30. I'd keep the cost stop just on the other side of the 10 EMA.
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