Friday, April 10, 2015
BAS: trying to breakout from a 5-month reversal rectangle?
First, the daily chart going back to November 2013:
The next chart focuses on the possible 5-month reversal rectangle:
Of course the breakout attempt can fail and this rectangle could turn into a continuation pattern that starts another downtrend. BAS is a volatile stock tied to a volatile commodity (oil) so a trader must be cautious and stick to rigid risk controls.
Posted by Brian B. Kim at 12:43 PM