Trade of the Day – Basin Water (BWTR) Breaks Out of Bullish Triangle

Posted By Tate Dwinnell |  Subscribe in a reader | Comment 0

Today’s trade of the day features one of my favorite chart patterns – the bullish triangle formation which is characterized by a few days of near record volume buying followed by tight consolidation where price gets squeezed to a point with diminishing volume.  The result is often a breakout in the direction of the previous trend which in this case is up, up, up.  Basin Water (BWTR) is breaking from this very bullish formation today with decent volume.

basin water bwtr stock chart

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