Bahamas Petroleum Company: From the recent base, bulls make a fresh upwards breakout on BPC

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Bahamas Petroleum Company shares (LSE:BPC) have broken upwards after several months of a boring ranging movement. The shares dropped like a stone in March 2015, only to consolidate till August 2019.

Recently, there has been a significant bullish breakout, which means the market may go further upwards. The market is clearly above the EMA 21, and the Williams’ % Range period 20 is pointing upwards, also showing a clean bullish signal.

While there may be temporary pullbacks in the market, the overall movement in the next several months should be bullish. The next targets are the resistance levels at 3.00, 4.00 and 5.00.

 

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