We were a bit too enthusiastic buying Bloom Health Partners Inc. (BLMH:CSE; BLMHF:OTCQB; D840:FRA) toward the end of June as it went on to drift a little lower than expected.
On its latest six-month chart we can see that after we bought it, it drifted lower into the support, with the Flag pattern that we delineated morphing into the slightly different Pennant.
Normally, after the completion of such a Pennant another upleg occurs but unusually, the price has instead drifted sideways at the support on very low volume stabilizing at this level.
Technically the picture remains the same and it would appear that the price is marking time here waiting on some news, or simply for the influx of more buying since the buyers who piled into it early last month are still around and might fancy buying some more at these prices.
Thus, the technical picture for Bloom Health Partners is considered to remain as bullish or more so than when we first looked at it. So we stay long and this is a good point to buy or add to positions.
Bloom Health Partners website
Bloom Health Partners Inc. closed at CA$0.21, $0.168 on June 23, 2022.
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The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.
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