Saturday, January 12, 2019

Trade BFL and GRAN based on the trend and Volumes

Since the Surprise drama that happened on the 26th October 2018, the poultry stocks too got into action.

BFL - Price line is ascending with volumes at above average levels as per the 20 day Volume line. After two weeks of HIGHER LOWS Prices took a consolidation during the week just ended. As such we need to watch the price action during the coming week. An important Price level to watch will be 121.00 which got supported in the 2nd week of December quite strongly. As the volumes are satisfactory watch the price behaviour before initiating an entry.



GRAN - Prices are holding up in an ascending pattern, yet this stock will never move up without volumes. Could trade at the lower end of the zone with tight trading with a close focus on the volumes.  Average weekly volumes over 500k is a must to bring a lot of attention to the counter. If we do not see volumes the stock could breakdown below the 9 ema of 59.80.




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