BPT has had a wonderful run this year, but a fundamental catalyst will result in an abrupt breakdown from the larger Head and Shoulders, triggering with a break underneath the smaller Head and Shoulders at $11.50. That H&S, formed after rejecting from the 125 Exponential Moving Average, is the little pilot for the larger rocket ship pointing downward. As you can see, not much support exists beneath that level. The catalyst will be; BPT was the most generous payer of dividends on the entire stock marke, but the payouts are set to expire in 2023. Investors are going to bail. Unlike most royalties, BPT has high liquidity and moves with great volatility. I'm scouting follow through with these reversal patterns, and then I'll position a short.
הערה:
This trade is going to have very significant follow through. Already at that support. Good luck
הפקודה בוטלה:
My brokerage said there weren't any available shares to short.