BF Utilities stock is turning around on the chart and that’s good news for its investors/traders.
Here’s the BF Utilities Daily Chart
Source: Chartalert.com
BF Utilities made a sharp surge when it broke out above 200 dma around June 22 and there was a one way rally from 405 to 480 in less than 20 days. But in two weeks of July correction: stock sharply pulled back to 200 dma.
Good News: Pullback complete – Stock exhibiting Turnaround behaviour
The stock post pullback to 200 dma seems to be making a strong comeback. In last couple of days it has bounced from 390 to 407 and it appears stock is ready to rally back atleast to 480. This looks like a typical turnaround behaviour where stock builds it base above 200 dma and gets ready to move much much higher in weeks and months to come. The stock now has a well defined stop loss below 380.
Please do your own due diligence before trading
