Buz Investors Characteristic in Bluebird Stock My bullish views surrounding bluebird bio Inc (NASDAQ:BLUE) stock are not a secret,

This Characteristic in Bluebird Stock Could Be Exploited

BLUE Stock: Habits Are Hard to Kick

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Buz Investors Characteristic in Bluebird Stock My bullish views surrounding bluebird bio Inc (NASDAQ:BLUE) stock are not a secret, because earlier this year I published a report titled “This Is Why Bluebird Stock Will Soar into the Sky in 2017.” I am returning to this name because the price action has been incredibly phenomenal, and it continues to suggest that higher prices are likely. I cannot stress how impressed I am with the way this stock abides by certain technical rules, and the level of respect it has for important price levels. I believe that I have identified an embedded trading characteristic in BLUE stock that can be used in applying an appropriate trading strategy.

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Characteristic in Bluebird Stock

For anyone who isn’t familiar with the method I use to analyze a potential investment, I employ technical analysis to develop a bullish or bearish view. This method of investment analysis is based on the notion that historical price and volume data can be used to decipher trends and forecast future stock prices. I have been refining my craft in this method for nearly two decades, and have become proficient in applying it to my trading strategies.

n July 2016, price exited the triangle in an upwards direction, confirming that the pattern was an ending triangle. An ending triangle indicates that the predominant bearish trend towards lower prices has finally concluded. Blue rallied out this triangle for roughly three months before a correction finally ensued. Even though this correction retraced all of the gains that were made, it did not tarnish the overall bullish picture that was suggested by the ending triangle.

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BLUE stock returned to test the ending triangle from above, and this price action actually served to reinforce the bullish view as this was a successful backtest. A backtest, or the one last kiss goodbye, reinforces the notion that the original breakout was legitimate and that a new trend has begun.

BLUE stock carries a defining characteristic of backtesting previous levels of resistance, and this habit should be factored into any applicable trading strategy. I am bullish on Bluebird stock because there is every indication that the path of least resistance is geared towards higher prices, and I will continue to tilt my strategies towards my bullish view until there are indications on the Bluebird price chart that suggest another view is warranted.

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