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Oversold bounce on $PLS 1HR chart
PILBARA MINERALS LIMITED
Long
Oversold bounce on $PLS 1HR chart
By PaulCruz
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Aug 1, 2018
2
Aug 1, 2018
Current sentiment:
Hard sell off from falling spot prices, unjustified IMO especially when PLS is selling at market prices, but it is what it is.
*Goldman Sachs big net sellers, deutsche bank big buyers
*High volume in the sell off from the highs
Signs of a reversal are possible:
* Dragon fly doji showing on the hourly chart (forming into a bullish hammer)
* Dragon fly doji on right on 200ema (past data shows support on 200ema)
* Oversold RSI
Risks:
* moderate - high volume sell off
* Current sentiment on lithium plays, GXY, AJM, KDR are negative
Personally, great prices for a buy, but needs to hold and bounce from here.
Chart Patterns
Technical Indicators
Trend Analysis
PaulCruz
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