PILBARA MINERALS LIMITEDUpdated PLS - Downtrend continues
Having broken thru the .80 zone of support, the downtrend continues with a strong bearish candle for the week (ending tomorrow 07/09). The next level of support is at .67 (the .618 fib level) before it continues to .60 (historical resistance when the script was moving up) . If the stock markets move down due to world events, I cannot discount the price reaching .51 or lower. Currently there is no buy signal and I do not own any PLS stock, nor is this investment advice. These are my thoughts as a potentially future interested investor in PLS.
Note
The daily chart shows that the 50 DMA and the 200 DMA crossed on 6th August 2018. Never a good sign. The price is currently retracing updwards. A few resistance zones along that direction are .865c (50 DMA), .90c is the 50% fib of the last move down, the 50 Weekly MA and .89c to .90c has a confluence of fibs ( I expect strong resistance at this zone), 915c is the 200 DMA and .955 to .965 is another confluence of fib levels. Of course $1.03 will be the toughest frontier on the move up.Note
The downtrend continues and .60c remains the level for a reassessmentTrade active
A test of the .786% FIB level (0.51c) is a real possibilityTrade closed: target reached
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.