Bahamas Petroleum Company shares (LSE:BPC) have broken upwards after
several months of a boring ranging movement. The shares dropped like a stone in
March 2015, only to consolidate till August 2019.
Recently, there has been a significant bullish breakout, which means the
market may go further upwards. The market is clearly above the EMA 21, and the
Williams’ % Range period 20 is pointing upwards, also showing a clean bullish
signal.
While there may be temporary pullbacks in the market, the overall
movement in the next several months should be bullish. The next targets are the
resistance levels at 3.00, 4.00 and 5.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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