Bahamas Petrol shares (LSE:BPC) has been going upwards since it broke upwards significantly in early May, 2018. Before then, price was in a tight consolidation, forming a strong base.
In the context of a bullish movement, price ranged in June, only to begin to go further northwards seriously in July.
4 EMAs are used for this analysis, and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart. All the EMAs are sloping upwards, supporting the ongoing bullish momentum in the market.
Price is above the EMAs 10 and 20, and may temporarily test the EMAs and then go further upwards. However, Bahamas Petroleum is generally supposed to continue going upwards until, the end of this year.
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