As PHISIX is nearing the 3600 support or probably going to rebound real soon (hopefully), BPI is approaching it's own support as well. In the chart below, BPI bounced back 4 times already in it's uptrend support in barely a year and is bound to hit it again for the fifth time. Should PHISIX bounce back, BPI could go north as well.
The good thing is that two other indicators are saying that BPI might head the right way. MACD and RSI (both encircled in red below) indicates that BPI is going to be a good buy (hope it's good buy and not goodbye). It's RSI is just well within the range.
However, should BPI's support fail to hold, there is a long way to go down to it's all time uptrend support. In the chart below, BPI's next support is going to be at around P37-P39, a decrease of approximately 25% in it's current value.
BPI doesn't have much fundamentals to back up it's technical probabilities and to gain some serious buying sentiment. Hence, though the chart looks promising, caution is still highly advised.
Right now BPI is roaming around the P52-54 range and has somewhat found a resistance at around P62-P65. 20% gain really doesn't sound that bad and the good thing is that if BPI could bounce back from it's 1 year uptrend support, it might break the P65 resistance and continue to go up. Wishful thinking that is but there's really no harm in keeping an eye on this one.
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