Don't jump!I'm not certain the 'retail peasant' can short this but ye.. eish!
Either way, nice entry point?
I feel the Snoop dog song "drop it like its hot" is highly appropriate.
PPE
Purple Group looking red to 125cRectangle box has formed and the price has broken below the support.
Moving averages - 200>21> 7 - Bearish
RSI<50 <30 - Bearish
Target 125c
FACTS
Limited is a financial services and technology group incorporated in South Africa, offering online trading, investing, asset management.
A couple of famous brands include Easy Equities, Easy Properties, Easy Cryptos, Easy ETFs, GT247 etc..
Possible rocket ride incoming*** Long but not quite yet. Read the notes below. Watch this one very closely over the next few days.
COVID Play - This company produces PPE supplies.
COVID numbers should be climbing, regardless of vaccine progress, there will be demand for PPE.
Almost ready for a long.
If this count is right then short term it has one more visit of the 9.06 - 10.54 area.
If my count is wrong and breaks the current downtrend resistance from 11/05 then we head higher from here.
Note the strong rejection higher from 10.54 on 11/09. Price came back to retest then a few strong days but breakout attempt failed just under the 50ma.
This is one to watch very closely. If the trend continues back to that buy zone again and retests 10.54 I consider this a strong buy.
Especially if RSI and Stochastic match up in oversold. Note the price action back from June when that occurred.
A double bottom at 10.54 soon would not surprise me a bit. Falling diagonal to complete wave 5. Followed by strong ABC correction.
If this is all accurate then a strong correction could easily get this back to $22-$24 range.
Also on the fundamental level, this company has a float of under 20m and a float short of over 30%. That's the ingredients for a rocket. Hence the previous spike high of 43.92 on 02/28/20.
Trade idea:
Confirm with price action, RSI and Stochastic.
Long from 10.54
Stop Loss below 9.06 (low from 06/05/20)
3/1 R/R = 15.16.
T1 - 16.27 (.382fib and 200ma)
T2 - 19.80 (.618fib)
T3?? - 25.53 most recent high...remember rocket ingredients noted above.
Trump wears mask = APT $20-25Bullish even though we havent consolidated for so long, but Trump wore a mask so we should go up!
FGR - POSITIVE NEWS INBOUND?First Graphene Limited - Currently in a trading halt, and coming into the new week with positive news could see them break this descending triangle and break the 12 month downtrend.
1. More positive news out of the trading halt will see buyer momentum and volume return to the market.
-Increased Volume & Momentum
-Double Bottom off .382 Fibs (Strong reversal)
-Break Descending Triangle & Test Descending Broadening Wedge
-MACD close to a Golden Cross
-Potential 20% push pending break Broadening Wedge
2. News isn't enough. Sellers continue the squeeze into the corner and push price below strong support a 0.12
-Descending Triangle completed
-MACD spreads without cross
-Continuation of Broadening Wedge confirms
-RSI will return to OverSold region
-Fall would see a reduction of 30% before Support found
With a mission to be the No.1 High Performance Graphene Provider in the World. FGR is on there way with many alliances in many sectors. Graphene is the thinnest material ever isolated, 200x stronger than steel, 20% flexible and 1 million times more conductive than Copper. EYES ON
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
HLTH.C - Potential bottom reversal; medical PPE supplierThe stock hit oversold area on Thursday then bounced off the bottom (.11) for the first green close in the last 10 trading days. Doji, followed by another green candle confirming reversal and a bullish MACD cross. I also noticed seasonality to the chart. It ran up hard in April 2019 and in April 2020. Also around July 2019. Note: this is a highly speculative stock/sector and a stop-loss is a good idea IMO.
