BYCO Byco Petroleum short term analysis 1st Jan. 2021

Further Advance

Our Pivot: 7.00

Our Preference: Start buying BYCO above 8.50 and average it out till 8.00 with strict stop loss of 7.00 and profit target at 10.20 and 11.00

Alternate Scenario: Downward penetration of 7.00 will call for 6.30.

NOTE: BYCO have retested resistant trend line of its previous descending wedge as support and now moving back towards expansion of this wedge. Daily momentum indicators are in bullish mode.

Chart with supports & resistances: