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.

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