The chart of this mining and engineering products group has been showing interesting signs of forming a basing pattern for a while.
As things currently stand, recent activity looks like a possible double bottom style pattern. Buyers made a start at pushing the stock past resistance on Monday but got cold feet with price retreating back into the body of the pattern at the close. The situation remains in play though. From here a close well above resistance could be a sign of strength and this looks to be on the cards today. However, even if this takes a while to happen, this pattern leaves Bradken as an interesting stock for the trader’ watch list.