A2M milk weekly chart analysis taking a medium term view. We have a “change of character” (CHoCH) with A2M, suggesting a consolidation ( range bound price action behaviour) over the coming weeks. The major trend being UP with A2M, may suggest a resolution to the upside from the anticipated pattern, is more likely than not. The fact that we are seeing a CHoCH means further testing of the support and resistance is likely. Both support as well as resistance are marked with Orange horizontal support and resistance lines. Resistance being the zone of $2.35 and Support $1.50. Largest reaction in the history of A2M, since it’s inception, giving us a change of character in price action behaviour. Prior corrective period, resolved itself with a BREAKOUT to the upside after approx. 4 weeks.
A2M weekly chart below.
BAL is another stock which is likely to consolidate (range bound price action) in medium term after a CHoCH ( Change of Character). As to the direction of the next move, further time and analysis is required. The major trend being UP with BAL , may favour an upside breakout once this potential pattern in the making is resolved . I would also keep a close eye on the up trending demand line ( trend line) in Red with BAL.
Prior corrective period resolved itself after approx. 8 weeks late last year, which may be the case again this time around.
Weekly BAL Chart below.
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