Is this a bear flag?

[Wyatt]

Re: CCL: Is this a bear flag?

I am looking for opinions on this chart. It is a stock I should have bought a few months ago and have recently again been considering. The stock has trended very well for the last 15 months and the pullback could be a good opportunity. The recent price action looks like some kind of bear flag or does this only apply during downtrends.



Thoughts?

 

[Triathlete]

Re: CCL: Is this a bear flag?

I am looking for opinions on this chart. It is a stock I should have bought a few months ago and have recently again been considering. The stock has trended very well for the last 15 months and the pullback could be a good opportunity. The recent price action looks like some kind of bear flag or does this only apply during downtrends.



Thoughts?

Here is my quick analysis on your BSL chart.

I have used a monthly chart to look at the longer term trend and can see that there is resistance at around $9.60 - $9.80 level which is also the 50% retracement level from July 2012 back up to July 2009.

So if I was looking to get into the stock I would wait until it closing above this level before I would buy in that is just my own opinion though

If it does this than we could get a further run up....... but at present this level could be the turning point back down....time will tell though.....

 

[Wyatt]

Re: CCL: Is this a bear flag?

Hi Triathlete,

Thanks for your prompt reply, we will sit and wait and see, me thinks