Yes I agree, while they may look similar to some, there are subtle differences for sure.
BGL looks to be in a much stronger position.
Firstly, in the same fashion as BWX, there was obviously quite a bit of supply drawn out on the gap up in price - which is not unusual. Whenever price makes a substantial rise, some sellers will often emerge. It is how the market copes with this supply that makes the difference.
In response to this supply the BGL price has generally held around the 50% level of the gap up bars true range or higher.
In general the less ground that is lost in a situation like this, the more bullish is the underlying market sentiment (with the 50% level often being most important).
There is also multiple signs of support and possible re-accumulation, particularly when price dips lower.
There are also a few potential shakeouts, all with a positive response, and a failure to follow through to the downside. This is also an underlying positive sign.
Finally, looking at this part of the broader chart as a whole - it looks like a gap up and consolidation.
In more detail I would say that price gapped up, and the rise in price has inevitably drawn out some supply (selling). So in response price came back a bit to challenge the sellers (which is a normal market response), and as price came back supply dried up (so it was no longer a serious threat), support continued to come in, and price began to consolidate the previous gains.
The recent push back above the previous pivot a good sign.
This stock looks poised to make a move higher when conditions are right.
(20min delay)
