$ BMSN 50% Retracement Pattern
If you look at the run BMSN had at the beginning of the year, every time it made big gains, whether 2 days or a combination of several days, it was followed with a 50% retracement. It would then bounce off of that 50% mark and shoot up to the next big gain day within a few trading periods. The previous high then became support each time as it retraced 50%.
BMSN is doing exactly the same pattern now if you look at the chart. It is currently in the consolidation period following the 50% retracement and appears to be bracing for another jump up. If the pattern holds, the next run up should go to near the .0069 - .0071 resistance level put in back in February unless it is halted at the .0062 resistance level. I would then expect a retracement and consolidation back down to the .005 - .0053 level.
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