PRLEXUS-WA (8/11/2020) runs steady
Updated
PRLEXUS-WA completed Wave 2 @ 0.640 in 2-Nov-2020, and since then has riding the uptrend channel for about +48.41% in just a week. Nearest support is 0.83, whilst nearest resistance is around 0.985. Good entry would be psychological resistance @ 1.0 with 0.985, and 0.83 as support.
However, if the price breakout the symmetrical triangle with volume, we could entry earlier with TP around 1.09, and Support @ 0.93.
As long as the uptrend channel is respected, the Wave 3 could end up as high as 2.280 (using Fib Extension 1.618)
We are still waiting for volume to come for this stock for it make a bolder movement. Banker chip is already full, means its just waiting for the right moment.
Its mothershare (MYX:PRLEXUS) has a relatively small balance float (54% of 182M shares), relatively compared to
POHKONG (22% of 410M shares). This would result to a lighter price action for the stock. Good sentimen and news would exponentially accelerate it.
TAYOR guys !
Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
However, if the price breakout the symmetrical triangle with volume, we could entry earlier with TP around 1.09, and Support @ 0.93.
As long as the uptrend channel is respected, the Wave 3 could end up as high as 2.280 (using Fib Extension 1.618)
We are still waiting for volume to come for this stock for it make a bolder movement. Banker chip is already full, means its just waiting for the right moment.
Its mothershare (MYX:PRLEXUS) has a relatively small balance float (54% of 182M shares), relatively compared to
POHKONG (22% of 410M shares). This would result to a lighter price action for the stock. Good sentimen and news would exponentially accelerate it.TAYOR guys !
Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
Note
Due to issues around Pfizer vaccine success, the whole glove sentiment went down. As a result, the stock has breached the uptrend channel, and currently mingling around support zone 0.83
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