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PGM

SBSW at 10-moth range low that needs to hold SBSW has undoubtedly been a very poor performer since the highs in March 2022, down 80%. However, as I see it, it has entered/formed a range from end of November 2023, where the low of $4 has been made, to a range high of $5.82, It is currently sitting at the range lows at $4.10. It has actually traded below the range low for a short time, but has quickly bounced back inside. Given that both platinum and palladium look to be bottoming and are showing some strength, I am expecting for this momentum to shift to SBSW as well. Gold is another good performer, which should affect SVBSW positively. I have therefore decided to start building a long position in SBSW at the $4.1 mark and will be targeting range highs at $5.8. IMPORTANT: I understand I am buying an beaten down asset which is currently still downtrending on all high time frames (from 12h onwards), which is not the most bullish sign :) I am therefore ready to cut my position, if we start closing below the $4 range low level. If this is the case, I am expecting a sweep of the $3.88 level, which was marked by the loan red candle, before the big reversal back in the beginning of March. Lets see how things shape up... Happy trading
NYSE:SBSWLong
by Retrace_all_gains
2
ASX: Platina ResourcesFactors 1. Price has experienced a very LT downtrend 2. Price slowly moving out of the upper LT trendline. 3. EMA is crossing 4. There is an overhead gap at 4.7c & 5.7 which I would be looking to target. 5. Potential fundamental catalyst 6. Recent increase in volume Possible Reasons For Failure 1. Base may not form 2. Prices may continue to downtrend 3. No bullish price action/candlestick pattern to initiate breakout trade 4. Target might be too optimistic 5. Potential fundamental catalyst to drop prices Watchlist and keep an eye on 2.5c level.
ASX:PGMLong
by forexpunter
PGM Last hope?Is this PGM's last hope before it descends into the depths of Hell?? :) In order to defend its Weekly higher low pattern PGM needs yet another bounce off its 200 Week moving average. It has closed below the moving average with every other moving average shot. 50, 100 day etc sma ema.. The Daily RSI is almost oversold but not just yet which could merit a bounce and quick filp BUT there is still room for downside in that daily RSI so caution is key.. More downside will see PGM break its Weekly higher low pattern which is its last hope.. potentially . Next support's @ 86 , 77 and 65 Best way to play this is DONT. Unless we get a bounce and wait for a confirmation.. What confirmation? the confirmation for me personally will be when 1.We get a bounce and break above the 16 and 36 EMA on Dialy timeframe 2.When we get a pull back and find support on the 36 period EMA. 3.When we get a 16 and 36 period ema cross (Buy Signal) The bear volume on daily has increased but this cold just be the final bear climax before a bounce off the 200 week moving average. Lets see.. :) The monthly Bear volume is decreasing so we could be seeing the last of the bears.. Confirmation is your friend.
ASX:PGMShort
by gillman_hugh
PGMPGM coming close to previous support at 0.10 cent and even bigger support at 0.090. 20 period EMA currently acting as resistance. Plans for trade: Wait for PGM to bounce on support at either 0.10 cent or 0.090 cent. Wait for confirmation of EMA to Cross SMA before taking position Bullish indicators PGM is in a strong uptrend Declining Bear Volume on Monthly chart. Targets on Confirmation longterm. Remember to always lock in profits as a lot of other trader's will be selling at these levels so better to lock in profit before resistance levels. T1 = .0135 T2 = .0160 T3 = .0175
ASX:PGM
by gillman_hugh