BTM (7188)

BTM Resources has formed a bullish Ascending Continuation Triangle chart pattern. My observation has indicated that the price may rise further to test its resistance at 0.42 & 0.455 in the near term. The recent trading pattern has also indicated that the buyers are more aggressive than the sellers thus making it more likely that the upward momentum is in place. It is observed that the MACD line of BTM is above the centre line indicating a degree of strength in the price movement.

The current uptrend is possibly due to the anticipated better performance of the company in the light of benefits on forex gain which will handsomely add to its bottom line. BTM is to release its Qtr Result tentatively on 27 Nov 2015. I believe the result should be better than expectation.

HAPPY TRADING & GOOD LUCK

BURSAMASTER

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