Buz Investors Bull Market in Bombardier Stock There are really only two views that I can carry when it comes to an investment. I am either bullish or bearish on the prospects of an investment.
I haven’t been shy in expressing my bullish views on Bombardier Inc. (TSE:BBD.B) stock, as it has been a focus of a number of publications, and appropriately so, as Bombardier stock bottomed in 2016 at $0.72. A stellar rally followed, and BBD.B stock is now trading at $2.06, and it is approaching a key technical level that will determine if a bullish or bearish view will be warranted.
My bullish and bearish views are generated using technical analysis. This method of analysis is based on the notion that historical price and volume data can be used to discern trends and forecast future prices. As a result, the price chart is the basis of my investment views. I have been using this method of analysis for nearly two decades, and I have become a proponent of this method based on my previous successes.
In the process of completing the initial impulse wave, a golden cross was generated. This indicator is produced when the faster 50-day moving average crosses above the slower 200-day moving average. This indicator is used by traders to confirm that a bull market is in development and, as a result, I tend to tilt my trading strategies toward a bullish bias when this indicator is engaged.
Bombardier stock is now testing a level of price support that currently coincides with three distinct metrics, which suggests that support at this level is strong. A successful test would reinforce the notion that higher BBD.B stock prices are likely and that a bullish view is still warranted.
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