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$BWLP | ($BWLP) Technical Pivots with Risk Controls (BWLP)

By Thomas Kee

$BWLP | ($BWLP) Technical Pivots with Risk Controls (BWLP)

The technical summary data tells us to buy BWLP near 13.53 with an upside target of 15.96. This data also tells us to set a stop loss @ 13.49 to protect against excessive loss in case the stock begins to move against the trade. 13.53 is the first level of support below 13.55 , and by rule, any test of support is a buy signal. In this case, support 13.53 would be being tested, so a buy signal would exist.

The technical summary data is suggesting a short of BWLP as it gets near 15.96 with a downside target of 13.53. We should have a stop loss in place at 16.01though. 15.96 is the first level of resistance above 13.55, and by rule, any test of resistance is a short signal. In this case, if resistance 15.96 is being tested, so a short signal would exist.

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