27th Jan 2011 – Pattern Study - BIOF

Ticker:

 

1. BIOF

 

Topic:

 

1. Another Multiple Bottom of the day!

 

Lesson Learnt:

 

1. Pay attention to this kind of pattern. Can be very profitable.
2. The intraday pattern clearly shows how to identify that the price is shooting up from the multiple bottom already. It has volume confirmation too immediately.
3. Have to pay very close attention to the intraday signature of breaking up to ensure that it is going to rebound hard and get a very good and safe entry.

 

Intraday Chart

Historical Chart