A friend of mine asked me to relook at Bombardier (BBD:TSE) after getting news of the Delta deal.
Let’s look at the monthly candle chart right now. Notice the BIG +6 year descending channel. Some bullish divergence with the RSI, this could be a bottom.
Here is the weekly candle chart. More of the same.
And a final zoom in on the 1 year daily candle chart. Nice breakout of the bottom formation and current test of support turned resistance zone (also know as a “WALL”. Check my concept here.) at 1.80,.
I’m looking for a monthly candle close above 1.80 to give me a first target at 2.40. The furthest target is a test of the upper boundary of the descending channel at 3.00. So will Bombardier fly higher? Time will tell! Get some tips on patience here.