Price has found support at two prior longer term tops as well as the midline of a 4+ year price channel. More recently, stock has broken out of a downtrend and has subsequently found support at the $4 level which is where 3 very important things lie:
1) 50% retracement (not drawn on) of the move up from $3.05 to $4.95 off the 3/23/20 low
2) along a rising support trendline tested 3+ times (3/23, 4/2, 5/12, etc)
3) the 200 day SMA
MACD cross occurred today on twice the 10 day average volume.
All in all, as I have presented it, it sounds to me like a very strong buy case, let's see if I am right.
1) 50% retracement (not drawn on) of the move up from $3.05 to $4.95 off the 3/23/20 low
2) along a rising support trendline tested 3+ times (3/23, 4/2, 5/12, etc)
3) the 200 day SMA
MACD cross occurred today on twice the 10 day average volume.
All in all, as I have presented it, it sounds to me like a very strong buy case, let's see if I am right.
Kommentar:
To add to that, I neglected to mention that the March 2020 low is a .618 retracement of the entire move up from Dec 2018 to Jan 2020.
Kommentar:
I even neglected to mention there has been consistent insider buying for a year. CEO and CFO both bought at March lows. You can see for yourself on Finviz
finviz.com/quote.ashx?t=BASI
finviz.com/quote.ashx?t=BASI
Kommentar:
I still like this one, I would get in on a broader market pullback