Technical features to note on the above daily chart of Materials stock Boral:

• Now in an uptrend.
• Resistance at $6 has become Support since April 2016
• The share-price has rebounded from an higher low, with 6 of the last 8 candles upwards.

Comment

This post should not be regarded as investment advice. Technical features however can be helpful in alerting investors to potential buying or selling opportunities.

In this instance it is suggested that this may be a favourable time to buy Boral, or add to one’s existing position in it. If the sentiment that has created the recent uptrend continues, it is likely that a new high above $7.40 will be attained. As always, all positions should be monitored daily if possible.

Disclosure

I own shares in Boral

Categories: Chart Analyses, Chart Review

Tags: Boral Limited