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Bahamas Petroleum (BPC): Clear Sub 4p Bear Trap

By Zak Mir | Tuesday 11 June 2013


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


It is quite a conundrum we have here at Bahamas Petroleum in the sense that on the face of it the post-March price action on the daily chart was that of a gap fill bull trap reversal through the 200 day moving average and as high as 7.5p plus. Such a negative signal is not one you would normally be thinking of bottom fishing even a couple of months later.


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