BCP : Needs to break above 18.60 to ignite the bulls
March 13, 2011 Leave a comment
For the very near term BCP has support from 17.80 to 18 or so, with the formidable resistance level of 18.60 still the barrier for the stock on both a short and medium term basis. A breakout in coming days (or even weeks) at the 18.60 level has 19.30 to 19.40 as the target, with a move to 20 likely to be seen sooner rather than later for stock.
COnsider buying on a volume supported breakout above 18.60, or indeed if there is a low volume pull back to 18 or so early in the week.