$BN - RC -
Added 2023-05-17 10:07:33 +0000 UTCInteresting chart and fundamentals. We can see that the price has held above the historical support line since 2016, with the exception of the covid black swan event in March 2020, where it regained almost immediately.
Fundamentally, the PE is at 73 right now, however the FWD PE is at 8, so there is a drastic improvement expected here over the next 12 months.
On the chart, it has held the 0.618 Fib, so this is a prime spot for Wave 2 to complete and it is is a bull flag.
Very simple here, if it fails to hold the yellow historical line, it is into the bear case and following the amber line....if it can break above the 200 Day MA which will also be the bull flag trend line, it could be into Wave 3, above the previous high and this is into the bull case.
