BITA: Weekly Moving Average Analysis
BITA continues its climax run, as detailed in our blog post last week: syncubate.com/blog/2014/8/15/bita-climax-run-in-the-making
This chart builds off of our previous analysis. You'll notice that the stock has not closed below the 10 week MA since early May. This average has been a support level on two pullbacks, most recently in early July.
The 5 day MA has served as support on multiple pullbacks during this summer rally.
Watch for both of these levels to be tested and to possibly serve as support levels on any pullback moving forward
This chart builds off of our previous analysis. You'll notice that the stock has not closed below the 10 week MA since early May. This average has been a support level on two pullbacks, most recently in early July.
The 5 day MA has served as support on multiple pullbacks during this summer rally.
Watch for both of these levels to be tested and to possibly serve as support levels on any pullback moving forward
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