Exploring the universe of point-and-figure charts linked to renko pictures, we halt today at Burlington Northern Santa Fe Corp (ticker: BNI), a railway stock acting as an icon for everything that is around moving in the American economy. After the rally from March, it looks as if clouds are packing together at the horizon.
The daily renko chart is still upbeat: the daily trend is positive though a little overextended as the CCI-indicator is showing us.
The daily renko chart is still upbeat: the daily trend is positive though a little overextended as the CCI-indicator is showing us.
On a 60-minutes base, however, things are looking different. It seems a short term correction is under way.
This thought is confirmed by the P&F chart where a triple bottom seems to be taken out soon.
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