BAA offers an objective long entry as an aggressive trade here just above support.Price targets, set just below the actual resistance levels, are T1 at 0.24, T2 at 0.28 & T3 at 0.37 with a suggested stop below the August 18th low of 0.17 (i.e.- any print of 0.16).
BAA daily August 20th
BAA is trading just above a fairly decent support level (01.8-0.19) while recently coming off oversold levels which have historically been followed by substantial rallies/uptrends in the stock. Just to clarify the term “aggressive” trade, BAA is a gold mining stock trading at just 20 cents, in a sector well entrenched in a bear market to boot. As with any penny stock, the fundamentals & long-term prospects of BAA are most likely very questionable. Therefore, is would not be prudent to place any more money into this stock than you would be willing to lose if you woke up tomorrow to see this stock halted or delisted due a bankruptcy filing.
Whether trading or investing, always diversify your holdings amongst various sectors (and assets classes, if investing long-term) & make sure to account for both current as well as potential volatility and risk via beta-adjusting your position sizes accordingly.