Today BXI.V – Bio Extraction closed at the high of the day. This is a sign of strength. Volume was good as well. If we have one more day like this the stock will pop up on many scans technical traders use.
This is a classic high potential setup. If the 0.50 level is challenged my best guess is a huge amount of stop buy orders will trigger. The stock is less than 10% away from its all time high. This stuff is risky – I don’t need to tell you that. On the other hand if the all time high is cleared this one offers ‘clear sky potential’. Don’t bet the farm. Keep position sizes small but get some exposure. You should be able to sleep well at night. If you can’t your position size is too big. Then you need to ‘sell down to your sleeping level’ as the saying goes.
The stock is in the food sector. FEED – AgFeed Industries which is in the same sector did extremely well again today. So far the food investment theme is still looking great.
Have a great evening!
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