UK Stock BBA is a share I’ve picked as a swimmer today as it looks to be in a position to finally break out from the locked range it has traded in since February.
Why buy this stock
- Both MACDs show reasons to buy
- All daily averages moving to positive
So the chart is a weekly chart and the MACDs seem to be showing good indicators. When you look closely at the short term MACD its movement has since July shown a couple of times where it has attempted to come up and over the 0 line. Finally, the short term MACD has gone over the 0 mark, you then can add to this what the long term MACD has just done. That has dropped all the way back to the 0 line and instead of carrying on down its found some support and not only has it found support but the bar chart is just starting to show the first positive green indicator it has had for a while.
What also shows with this share is the 3 daily average indicators have all come together, and appear set to split apart in a positive way. This is due to how currently the price is trading above the current set of daily averages as long as the price says above the averages they should split out nicely giving signs of a positive move.
Do your own research and let me know if you feel the same as I do.