The stock of Bloomberry Resorts Corp. (stock symbol: BLOOM) did not post a new low last month. Instead, it simply matched the 8.28 low set last December 16. This is a welcome development and spells an opportunity for willing buyers in the coming days or weeks.
Comparing the price action then and now, we could see BLOOM challenge the range resistance and take an aim at the 11.00 area. Caution must prevail as price may continue to test the waters below the 9.00 level.
The Money Flow Index (MFI) is now at 85. It is fair to expect a decline in MFI (and perhaps price) in the coming days.
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