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


Robert Norman

Phone: 0428 346 951

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