PMD has recently shown a strong rebound after retesting the broken downward channel near $6.38, which pushed the stock to break above the resistance level at $7.07 last week. Sustained trading above this level would confirm a potential trend reversal to the uptrend!, paving the way for further gains toward the $7.56 – $7.68 range, followed by $8.25 and $8.96 in the short term.
The stop loss is below the last higher bottom at $ 6.38.
Technical indicators, particularly the MACD, are trending positively and support the bullish outlook, adding further confidence to the upward scenario.
Disclaimer: This analysis is for informational purposes only and does not constitute financial, investment, or commercial advice or recommendations.
The stop loss is below the last higher bottom at $ 6.38.
Technical indicators, particularly the MACD, are trending positively and support the bullish outlook, adding further confidence to the upward scenario.
Disclaimer: This analysis is for informational purposes only and does not constitute financial, investment, or commercial advice or recommendations.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.