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Now are going to take a look at a potential chart pattern to watch out for unless you want to barf up a recent rally in gains you may have had. We will go over the Bump and Run Reversal abbreviated as BARR. However, this was initially known as the Bump and Run Formation and abbreviated as BARF. I understand why they may have changed it, but to me, BARF sounds much more appropriate for what it is. Let’s continue, and explain this to see if you agree.
This chart starts like most other bullish charts you will come across where they are trending up nicely for a little while. Where it gets exciting is when that chart takes a few too many puffs and kicks up into high gear and aggressively pulls off from its prior uptrend. This stage is known as the bump. Eventually, this High comes down and goes to test the prior lead-in trend that was in place before it went berserk. It is possible that the prices may continue and resume from prior lead-in, however, if they fail then that is where we really need to pay attention. The next phase that we need to be on bear alert for is known as the run phase. This is the phase where the cannabis bears get excited and run off with the stock prices. Glance Technologies as depicted below is a good example of what to be on the lookout for. Then next time you see a bump, don’t let the bears run away with your gains.
Bump and Run Reversal