PVG
The green long-term channel started to appear around mid of July of 2016 by price hitting the top of the channel!
During the Covid19 Pandemic we observed a fake breakout but everything gone normal after first months!
15th of Sep the price touch top of the channel and started to fall! the red bearish trendline is broken and we are currently in pullback to the Broken trend line!
reactions to mid of the channel is not rare but they are not strong!
considering volumes, it seems market is waiting for 5th of may to observe the earnings and lower volumes in lower prices is not a good news for buyers!
If we are in the second Elliot wave we wont goes up more than the 11.73, but only "time" could clarify the best next move!
Right now for those owning some shares, my suggestion is to be a holder! until the Short-term channel is perfectly broken down or the long-term channel is touched you, then better to sell!
If you don't have any shares and you are a risk taker! you can buy tomorrow or right now!
and if your strategy is safer wait to see if the price break the 11.73 level perfectly or not!
During the Covid19 Pandemic we observed a fake breakout but everything gone normal after first months!
15th of Sep the price touch top of the channel and started to fall! the red bearish trendline is broken and we are currently in pullback to the Broken trend line!
reactions to mid of the channel is not rare but they are not strong!
considering volumes, it seems market is waiting for 5th of may to observe the earnings and lower volumes in lower prices is not a good news for buyers!
If we are in the second Elliot wave we wont goes up more than the 11.73, but only "time" could clarify the best next move!
Right now for those owning some shares, my suggestion is to be a holder! until the Short-term channel is perfectly broken down or the long-term channel is touched you, then better to sell!
If you don't have any shares and you are a risk taker! you can buy tomorrow or right now!
and if your strategy is safer wait to see if the price break the 11.73 level perfectly or not!
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