Ballard Power Systems $BLDP is looking like it is capable of making a big move higher and it should be on your radar NOW. The stock has a “band of resistance” between 440 and 452,(see the weekly chart above) once above that level it looks like it could be capable of a move north of 550.
The resistance is a breater level of significance here because it is also the approximate location of the volume weighted average price (VWAP) YTD. The 130 minute timeframe chart above shows the action of the stock on an intraday basis from the beginning of the year. The purple moving average represents the ongoing volume weighted price. Recently the YTD VWAP has turned the stock back on three occasions (red circles) IfContinue reading