tippet, here is a BGO chart with float channel. I didn't know what this was about until recently - I decided to click a little button on Qcharts.
ttrader.com\'s%20charts&id=427&d=2
I made up my mind on how to play HUI/BGO before this correction started, for various reasons. It was obvious it was coming. But .... it was interesting to note that BGO and a couple of other stocks I have banged on this float channel top a couple of times, before correcting.
BGO has done an exact 50 % retrace back to the wave 2 bottom, or start of wave 3. Not too confident of that count, but the way I currently have it. The retrace has just clipped the top of wave i of 3, which I don't really like, but for now accept.
A stock that exhibited some TA patterns a little bit like BGO, recently, was EBAY, and it went on to rocket further up another notch, only imo to truncate early.
Drooy OTOH has a very narrow float channel, 2.44 to 2.88, and it has just barely penetrated the bottom.
Once again.
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