BRC Asia Ltd (SGX: BEC) report on 22^nd February is still valid despite a gap down on 12^th of March 2021. Technical also indicate that the upcoming bullish upside remain intact:

1. Despite the pennant being invalidated after a strong gap down. Prices found support at $1.47 after it forms a bullish pin bar. As such, it has already forms a falling wedge formation, which is a potential bullish continuation pattern.
2. Waves count analysis remains the same as the report on 22^nd February. The only difference is that wave (iv) is evolved into a sub-complex corrective flat.

*Timeline of the trade is 4 weeks from the date issued.

*Ichimoku indicator is showing a ranging market for now.

CHART LEGENDS

Ichimoku Kinko Hyo

Red dotted line = 9 Periods Tenkan-Sen

Blue dotted line = 26 periods Kijun-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line