Daily Stock Report

Daily Stock Report - August 7, 2020 Badger Daylighting - (BAD.TO)

Badger Daylighting (BAD.TO) jumped 67 spots in the SIA S&P/TSX Composite Index Report yesterday climbing from the red zone toward the top of the Yellow Neutral Zone, finishing the day just two spots outside of the Green Zone. The shares climbed 12.9% yesterday after the company reported earnings. 

A major breakout is underway this week in Badger Daylighting (BAD.TO) shares. BAD.TO had already snapped out of a downtrend and its moving averages had completed a bullish Golden Cross back in May. This week they have blasted through $30.00, completing a bullish Ascending Triangle pattern and confirming the start of a new uptrend. The shares have remained under accumulation, advancing on $36.00. Next potential resistance appears near $42.00 and $48.00 on trend based on a combination of measured moves and previous tests. Initial support moves up toward $33.00 from $30.00.  

Building on a recent breakout over $30.00 which completed a bullish Double Top and signaled the start of a new upleg, Badger Daylighting (BAD.TO) has continued to climb, advancing on $36.00. The shares are approaching a potential congestion zone between $36.40 and $39.40 where a downtrend line, previous column highs and a horizontal count cluster. After that, next potential resistance appears at a previous column high near $42.65, then the previous all-time high near $48.05 which coincides with a vertical count. Initial support appears near $33.00 based on a 3-box reversal.  

With its bullish SMAX score increasing to 9, BAD.TO is exhibiting near-term strength against the asset classes. 

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