Short on PennantPark . PFLTImmediate targets12.49, 12.09 and then 11.57. Invalidation at 15.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
Pennantparkcorporation
PennantPark Investment Co Bearish. PNNTIn creating these charts, we are never really analyzing the companies. We do not look at the fundamentals and the return sheets for any company. At Rykin Capital we are convinced beyond any doubt that market action is really a manifestation of group psychology, which may or may not be related to the fundamentals of the company. We often find that the human brain, through its nearly infinite ability to rationalize everything, will falsely attribute a random fundamental to a particular move on a stock. We find no such connection present.
This whole exercise with a charts is a handy capture of that group psychology, which is as we mentioned many times, is purely fractal in nature and following certain mathematical rules that govern every aspect of reality. It is no accident that Fibonacci numbers work, that Elliott patterns work and why we are successful in our predictions.
Anyway, bearish on PNNT. Good luck!
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
