UK FSTE Company BGEO Group last week hit a new 10 year high and looks to be a swimmer. This is some thing for a share that costs more the £30 per share.
So why this stock?
- Weekly long term MACD hit a double bottom
- Monthly MACDs both showing positive values
- Price break to new high
MACDs are the indicators that play the part in this share, which made me buy into this company as a main share. Take a look at the image that supports this post, you’ll see something that I think is is a good positive sign of strength. The long term MACD has formed a kind of double ‘U’ shape! Take a look at how it twice went under the 0 line and then back above, but also see how it went down to the same place. Expect this to give strength to the share in the future.
Further strength in this share can be seen in the monthly chart, although I don’t show it the chart shows how the signal line has gone ‘green’ and has moved above the indicator line on both short and long term MACDs.
The only thing worrying me about this share is the 50 day moving average – I’ve owned the share for a week now and I’m still waiting for the 50 to move over the 200 day. Its close but I’ll be more comfortable owning the share when the cross happens.
As I always say, this is just my opinion, so let me know your thoughts!