BCP : Another LT breakout scenario with a target near 30
July 26, 2011 Leave a comment
Back on March 13 we said the stock would trade at 20 before long, and recent weeks have proved us right.
The Q chart below, much like the one of BCP posted earlier, shows us a similar scenario for both stocks, with BCP likely to hit 30-31 in the not too distant future.
It does however have resistacne from 22.10 to 22.50, but a move to 30 or so will come as long as we see NYMEX crude trade strongly above 100 for a few weeks in Q3.
First support is at 21.30 then 21.10