With a death cross on the chart, the momentum indicators turning lower, and investors in a selling mood I think that caution would be the better part of valor.
There is a caution flag on the track for BIN with a death cross on the chart and an advance fueled by the announcement of a normal course issuer bid.
There is currently no indication that the shares are about to reverse the selling.
Support along $7.50 has held and we have even seen some buying in the last session. A number of factors make a buy at these levels a consideration.
The momentum indicators are not suggesting a move to the upside so it would be best to be patient and wait for signals that AW.UN is going to move higher.
Given the current psychology in the market where even great companies with no question as to the validity of their claims are getting sold off it would be wise to be prundent.
Maintain your surveillance and look for a turn if the shares bounce off $1.00
