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June 17, 2024
PI Global Investments

Bullish on Badger Infrastructure Solutions Ltd.

Badger Infrastructure Solutions Ltd. BDGI-T declined from $46.58 in 2021 to $22.54 in 2022 (A-B) and then settled in a large horizontal trading range mostly between $25 and $33 (dashed lines). The rise above this range signaled a breakout and the start of an uptrend toward higher targets (C). However, Badger is currently far above the Average making it quite overbought; a minor correction toward $36-37 would provide a better entry level.

Behaviour indicators including the rising 40-week Moving Average (40wMA) confirm the bullish status. Only a sustained decline below $34-35 would be negative.

After a correction, Point & Figure measurements provide targets of $44 and $49. The large trading range (dashed lines) supports higher targets.

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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com

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