BITA has fallen 84% from its 2014 highs of $98.28 to its 2016 of $16.09 low. Stock has shown signs of recovery from its 2016 lows. Impulsive upward momentum could imply further pending upside.
Key support at $25.75 Critical support: $16.56 Upside Target: $45-$55
Break of critical support will void this analysis.
Yorum
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In view of the upside bias, any impulse upside break of its most recent high at $34.18 should come very soon.
If the upside move does not come within the next 2-3 trading days, the stock could likely be forming a more complex correction which is not complete.