BANCOR (BNT): An Opportunity to Farm for Cash
Despite the deep retracement of Bancor (BNT) in the current correction since December, pattern shows a clear trend. The double rounded bottom formation provided the base to launch a massive, near vertical price rise. Price has also broken out of the wedge pattern. While a straight shot to an all time high is not in the cards, this breakout could provide a sizable rally, nevertheless.
MACD also escaped out of the symmetrical triangle and needs to turn up after this minor correction. The blue waves show an impulse price pathway that could potentially retrace 50% or so of the corrective decline. IF one had zero cash at hand, would this potential rally represent an opportunity to fram for cash?
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