Extended bear runs are by their very nature very difficult to get a handle on especially in terms of calling time on the downside. This is something which can be seen currently on the daily chart of Bango PLC (LON:BGO) here over the past year there have been several false dawn revivals for the shares, only for them to head lower.
The most painful example of this came in October where the shares nearly doubled over the following couple of months only to head into fresh lows for the early 2015. However, it is easier to be more confident now regarding the recovery prospects of the shares, not only after the trials and tribulations of 2014, but also because the latest bounce comes in the wake of a double bear trap rebound from below the 80p level and below the 20 day moving average at this level.
Extended bear runs are by their very nature very difficult to get a handle on especially in terms of calling time on the downside. This is something which can be seen currently on the daily chart of Bango where over the past year there have been several false dawn revivals for the shares, only for them to head lower.
The most painful example of this came in October where the shares nearly doubled over the following couple of months only to head into fresh lows for the early 2015. However, it is easier to be more confident now regarding the recovery prospects of the shares, not only after the trials and tribulations of 2014, but also because the latest bounce comes in the wake of a double bear trap rebound from below the 80p level and below the 20 day moving average at this level.
