PNV.ASX_Bullish Breakout Trade_LongENTRY: 2.100
SL: 2.250
TP: 2.305
- ADX>25
- Daily RS +ve
- Daily FFI +ve
- Weekly RS +ve
- Weekly FFI +ve
- Moving averages are aligned.
- First breakout from range on 18 Oct 2022 with volume before going into range again.
- Breakout from range today with volume.
- Entry today based on breakout and >3% rebound off 10EMA with volume .
PNV
PNV.ASX_Bullish Breakout Trade_LongENTRY: 1.600
SL: 1.470
TP1: 1.810
TP2: 1.935
- ADX>25
- Daily RS +ve
- Daily FFI +ve
- Weekly RS -ve
- Weekly FFI +ve
- Moving averages are aligned.
- Price went above 200EMA on 5 Jul 2022 and went into range.
- Entry today based on breakout and >3% rebound off 10EMA with volume
- Would like closing to be better.
PNV.ASX flag break for possible $2.80 test. Hello Fellow Trader!
PNV.ASX flag break for possible $2.80 test.
breaking out of flag with strong sell off into close. A hold above $2.50 would be a great opportunity to target $2.80.
PNV.ASX - Polynovo LTD is an Australian-based medical device company that designs, develops and manufactures dermal regeneration solutions using its patented NovoSorb Biodegradable polymer technology.
Key Points:
- Price holding above the 200 EMA
- Price holding above the 50 EMA
- RSI above 50 mid-point
- Flag broken of upside
Key Levels:
Support - $2.50, $2.38, 50 EMA, 200 EMA
Resistance – $2.60, $2.80
Entry Zone:
Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals.
Optimal Entry – $2.51
Supporting Entry – $2.55
Candle Reversals for entry
- Bullish Hammer
- Bullish Engulfing
- Bullish Piercing
The Risk:
As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios.
If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital.
IF: Price breaks below 2.38 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter.
Reward / Reward Targets:
Optimal Entry $2.51 – Target 1 $2.80 = 2.2x Reward to Risk
Supporting Entry $2.55 – Target 1 $2.80 = 1.5Reward to Risk
PNV $0.610 Distribution / potential cap raise / OR breakoutIm thinking cap raise is coming up, and no ive no idea if they actually have $$$$ or what they even do
Something seems 'odd' here so im going to suggest retail are being fed atm.
If it were going to go, it really should have by now
OR if there is still too much supply(from where?) a spring/shakeout should have appeared.
The weekly looks bored/weak
Not holding, but will enter if it does actually breakout and hold 65
Very curious about this one