Is this a bear flag?

Re: CCL: Is this a bear flag?

I am looking for opinions on this chart. It is a stock I should have bought a few months ago and have recently again been considering. The stock has trended very well for the last 15 months and the pullback could be a good opportunity. The recent price action looks like some kind of bear flag or does this only apply during downtrends.



Thoughts?

Re: CCL: Is this a bear flag?

Wyatt said:

I am looking for opinions on this chart. It is a stock I should have bought a few months ago and have recently again been considering. The stock has trended very well for the last 15 months and the pullback could be a good opportunity. The recent price action looks like some kind of bear flag or does this only apply during downtrends.



Thoughts?

Click to expand...

Here is my quick analysis on your BSL chart.

I have used a monthly chart to look at the longer term trend and can see that there is resistance at around $9.60 - $9.80 level which is also the 50% retracement level from July 2012 back up to July 2009.

So if I was looking to get into the stock I would wait until it closing above this level before I would buy in that is just my own opinion though

If it does this than we could get a further run up....... but at present this level could be the turning point back down....time will tell though.....

Re: CCL: Is this a bear flag?

Hi Triathlete,

Thanks for your prompt reply, we will sit and wait and see, me thinks