BLD

Possible 4th test breakout setup.

This is by no means an entry just yet, however, should this setup fall into place then BLD could be on its way to resuming that impressive trend it was on in recent times. As we know, stocks quite often break out on the 4th attempt at a support / resistance level.

See charts below.

If we apply a fibonacci retracement indicator to the most recent run, we can see that the stock only retraced to the .618% level before bouncing hard to current levels. This indicates great strength in the move, and adds more confidence in the 4th attempt breakout setup.

In the immediate term, the stock has run hard, so a minor retracement from current levels would not suprise. If price can retrace about .618% of this current move and find support, thus forming a Higher low at around $7.03, a nice entry may present itself. This setup may not fall into place, but its certainly one worth watching. the chart below shows what I'd really like to see happen, but i cant predict the future ;-)

Update: Well, as you can see, price did not even retrace before crashing through on the 4th attempt. That's not all that suprising in this case, because as mentioned above, the stock only retraced to the fibonacci .618% level, which is very bullish.

 So the 4th attempt breakout succeeded once again, but i personally did not get a trade out of it....oh well !

Disclaimer: The above mentioned information is my opinion only, and NOT to be taken as advice as i am NOT a licensed advisor. Caveat emptor.