structural notes: - more and more institutional investors are entering (pension funds and other long term money managers ) confirming wyckoffian analysis - more sell side analysts are initiating the name at upside buys (meaning they can add in their private wealth accounts) - some strong catalysts coming up that can uplift the name (retail investor call in mid june)
technical notes: - the descending triangle is not complete but I think it will be soon; have to buy the upside breakout - the upside target of the descending triangle points to the initial target of the first point and figure price target of 17, this would put a price on burford at about 2 p/b (which is comparable to other names - but doesn't necessarily mean it will stop there- some value holders will sell tho)