Did you manage to get your hands on some BID Corp? My pre-market plan (published on Sunday 18/07) highlighted BID as a buy at the 50-EMA, with comment as follows:
Bid Corp (BID, 31833c) | Coming into last week we considered the potential for an overshoot followed by a retracement. The share has since retraced moderately, with the 8-EMA losing upside momentum while the 21-EMA continues to trend higher (minor support). The candle structure is weakening however we consider the 50-EMA (now ~30648c) as a provisional ‘next accumulation zone’. This is also in line with the 50% Fibonacci Retracement.
On Monday & Tuesday we saw the share rebound off this level, withe follow-through on Wednesday to above 31500c for a +900c gain.
Note, the price also exceeded our most recent short target range of 313-316.
Our clients have access to these and other opportunities. Get in touch today.
Bid Corp (BID, 31833c) | Coming into last week we considered the potential for an overshoot followed by a retracement. The share has since retraced moderately, with the 8-EMA losing upside momentum while the 21-EMA continues to trend higher (minor support). The candle structure is weakening however we consider the 50-EMA (now ~30648c) as a provisional ‘next accumulation zone’. This is also in line with the 50% Fibonacci Retracement.
On Monday & Tuesday we saw the share rebound off this level, withe follow-through on Wednesday to above 31500c for a +900c gain.
Note, the price also exceeded our most recent short target range of 313-316.
Our clients have access to these and other opportunities. Get in touch today.
