BEBE potential support after breakout

٧ مارس ٢٠١٥

BEBE broke out above the 3.30 band of support under high volume. This came after a nice bottoming formation with the 150 MA sloping up as of breakout and as of now 50, 100 and 150 MA lined up nicely. Also the pullback experienced nice volume contraction. Enter on signs of intermediate term trend reversing to the upside. If this happens nicely, a move to around 4.70 seems possible. If on resistance there, i expect sellers to gain control latest around 5$.

Happy trading!