Yesterday, BHI formed a bearish engulfing candle, which typically confirms that a reversal is soon to take place. Indicators are also poised for a bearish divergence. All signs point to a possible correction, pushing BHI closer to its support of 0.12. It will likely retest this level this week since selling momentum is continuing to increase. Average share price volatility is also picking up. Later today will be a make-or-break for BHI. If the next candle turns up red, that will confirm the end of the run-up. If it’s green, this would mean that BHI still respects its upward trading range–all things considered, but BHI must close above 0.14 today for this to happen.
Buy when support holds.
Support: 0.13 / 0.12