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Friday, January 4, 2008

BC: Failed Pennant?

In my previous post BC: probable pennant, I am pretty much bullish on this stock. Thus, I continue to hold on my position.

Here's BC price history
01/02/2008 O-20.75 H-21.75 L-20.50 C-21.00
01/03/2008 O-21.75 H-21.75 L-20.50 C-21.00
01/04/2008 O-20.50 H-20.75 L-20.00 C-20.00

I looked at BC chart again and try to figure it out anew.

BC Chart January 04, 2008

Is this supposed to be a 3rd pennant? I failed to notice the volume when the supposed pennant base was formed last December 26, 2007. Unlike the previous pennant, there was a noticeable volume when the base was formed. Also, MACD just cross the Signal that means it's time to SELL.