Price has continued rising strongly generally making higher troughs and peaks above a valid weekly uptrend (ie stock is in an uptrend). There is a strong level of resistance at $7.25 which has turned price. This could be the top of a Wave 1 and price could retrace strongly into Wave 2 but the alternative analysis is that if price rises to close above $7.25 with some volume there is a potential target at $7.84 which is a 13% gain on current price. A possible buy in could be at $7.25 (being a higher peak).

BAP 29Sept2020

21 August 2020

BAP achieved its target this week and was closed out for a profit.

BAP 21Aug2020

31 July 2020

BAP is trying to break resistance at $6.20 (although resistance seems to be more of a band than a line in the sand with BAP) and based on that break it has a target of $6.88. Another Gann target suggests $7.13 but I'd be happy with the lower number. Price moved up a little today when the rest of the market is in retreat - so that's positive.

BAP also confirmed a technical uptrend today (at least 12 higher weekly bars with the last bar the highest), and it's made a higher low and a higher high on the weekly - so looks good.

BAP Jul31

Charts and Commentary

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StockComment date
4DS 30 October 2020
ABC 16 October 2020
ALU 9 October 2020
AWC 24 November 2020
BAP 29 September 2020
BID 30 September 2020
BKL 24 November 2020
BLD 13 November 2020
BPT 13 November 2020
CBA 13 November 2020
CHN 19 November 2020
COH 16 October 2020
CSL 13 November 2020
CSR 8 October 2020
FBU 13 November 2020
FPH 27 September 2020
GEM 3 November 2020
LOV 13 November 2020
M7T 20 November 2020
MQG 13 November 2020
MSB 20 November 2020
MVP 9 October 2020
NXT 13 November 2020
OZL 11 November 2020
PAR 6 November 2020
PLS 13 November 2020
PME 23 October 2020
SGM 23 October 2020
SVY 13 November 2020
TCL 6 September 2020
TRS 20 November 2020
VOC 13 November 2020
WGN 20 November 2020
WOR 24 November 2020
WTC 13 November 2020

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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