BBUC Entry Consideration: Monitor Structural Break Amid Downtre

4 jun 2023

From a technical perspective, BBUC has been in a volatile downtrend since its IPO. Currently, the overall price movement is supported by the 30-day MA. However, bearish crossover signals have appeared in the MACD indicator, and the bearish momentum is starting to amplify. The RSI indicator also hasn't shown any clear buy signals. At the current price level, if considering a short-term holding plan, there is some upside potential, with a target near $22. However, the profit space is not large, so I personally would not recommend buying in at this point. If you insist on a bullish outlook for this stock, a good buying opportunity would be when the price rises above $23, gets support after a pullback, and breaks the previous downtrend channel structure.