BPO 0.00% 0.3¢ bioprospect limited

recent price action

  1. 3,749 Posts.
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    Hi All

    Anybody care to shed an opinion on the recent price action of BPO?

    While there wasnt the volume this week as the previous couple, the fact that the weekly chart is still bullish is comforting for those that are long.
    There is a clear uptrend on the weekly chart since the lows around 5c. Volume is moving with the trend and I would anticipate new highs being reached in the next week or so.

    With that said and done, the company has announced that there is no news imminent. Kylesh has previously stated there will be news in 4 weeks, which is about now I think. Either way, there is certainly some interest in the stock, and with rising prices and rising volumes, it indicates that we should continue to move higher.

    Only downside from a technical point of view is that we are sitting on a support/resistance level. But with volume lower with a lower price for the week, I wouldnt be too concerned that prices will fall much lower (if at all..). This is based on the weekly chart pattern.

    Any thoughts?
 
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