PLS To DropPLS Consolidating after an uptrend,
OBV going down as price stays flat,
Sign of bearish divergence and weakness.
PLS trade ideas
PLS @ 20 SEP 2021Text me if you have any questions/comments for me.
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PLS
- Previous analysis was done on 14 Sep - Suggested half entry at 2.25 levels or wait for more confirmation of uptrend
- The next day, stock gapped up to create new all-time high and there were no entry opportunities
- Stock has retraced back to the 2.00-2.05 support zone -> shows a lot of weakness
- Any break of this support zone would also constitute a structure break
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a series of Higher Highs and Higher Lows
PLS @ 14 SEP 2021PLS
- Previous analysis was done on 13 Sep - Suggested using breakout strategies to plot entry
- Today’s price action is again accompanied by above average volume
- Strong support zone seen at 2.00-2.05 levels
- Due to poor setup, suggest to either plot half position entry at current levels or to wait for formation of Higher Highs (HHs) and Higher Lows (HLs)
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest half entry at current levels or wait for more confirmation of uptrend
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Text me if you have any questions for me.
PLS @ 13 SEP 2021PLS
- Previous analysis was done on 9 Sep - Suggested waiting for a strong trend reversal
- Today’s price action is accompanied by above average volume
- Stock is again testing the counter-trendline (red dotted line)
- A break of the $2 psychological support might see the stock test the mid-term support
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest using breakout strategies to plot entry
PLS @ 30 August 2021PLS
- First time doing a written analysis on PLS
- Stock has some history of uptrend but aren’t long enough (ie. less than 3 months) to my liking
- Price retracement in mid-August is quite a big drop (ie. About 20%) but mostly due to the strong price increases before that
- Price respects the short-term average -> very good
- Price recently formed a Lower High (LH) but it’s understandable due to the big drop in the subsequent retracement wave
- Today’s price action looks to be a nice rebound and might present buying opportunities for some traders
- Stock hasn’t broken through counter-trendline
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest to use breakout strategies once stock successfully breakout of counter-trendline with strong volume
ASX:PLS - ⚡ Pilbara Minerals Marching ahead of QUARTERLY ReportASX:PLS
Up 10 % today ahead of the JUNE 2021 QUARTERLY ACTIVITIES REPORT ADVISORY
Positive new expected?
ASX: Pilbara MineralsIf you're active in the Aussie market, then it may be worth considering this name over the next few weeks.
Tight consolidation, but big green bars near resistance will add conviction.
Trade Levels:
Initial Accumulation (Moderate): A$1.17-A$1.22 then increase above A$1.25 or break of trend line, which ever comes first.
Stop-loss: A$1.10
Target Range: A$1.42-A$1.54
PLS.ASX_Breakout Trade_LongENTRY: 1.16
SL: 1.015
TP: 1.465
- ADX<25. Would like to be higher.
- RSI>60.
- RS and FFI +ve
- Daily MACD +ve. Weekly MACD -ve so trade with caution.
- MAs aligned. 10MA cutting above 40MA.
- Breakout with good volume.
Wave Plot...Appears to be in the start of a macro wave 3, The upside on this almost seems unbelievable for now but this is what the fibs say.
ASX:PLS Pilbara Minerals Ltd - all eye on growth ?ASX:PLS
Pilbara Minerals is positioned to become a low-cost, long-term, sustainable lithium producer.
During the period the Company increased its cash balance by $41.97M to $105.5M at 31 December 2019 (30 June 2019: $63.6M).
a net cash inflow of $107.6M, (net of fees) related to the successful equity raising completed during the period
need to follow the demand for the minerals that PLS operate in otherwise stock can correct from here.
Resistance & support points for PLS We have broken through major resistance points but I would say this one is most critical it puts this stock into a different range. My next target for this stock is just over a dollar if we break over 0.86
If at first you do not succeed, then try & try againSince Nov 2019, it has hit the $0.39c - $0.42c zone & failed to breakout. Will the latest effort succeed ?
third time lucky?- inverted H&S
- golden cross on weekly
- break of long-term down trend (or about to)
- SP retests strong R @0.385
TP target 0.585 - SL @0.3 - R/R 2
PLS --- looking for a big breakout Cup and handle .. break out has just started .. target and resistance shown.. this is a way undervalued stock .. with significant contracts an excellent future projections
H+S weekly, not yet confirmedI'm really interested to see how this will play out, a close on the weekly above the neckline will trigger entry. I would still want to see OBV rising.
Pilbara Minerals - A previous darling of the marketThe stock was a previous darling of the markets. I called a bearish LT trend on Hot Copper when the price was $0.97c. Expecting a price of around $0.35c got me viciously trolled..that was enough for me to quit Hot Copper permanently. This is now forming an inverted H&S pattern. The price is approaching the neckline zone & it is worth adding to the watch list for future price action may provide a trade. If it breaks & retests the break successfully, the target price is indicative.
Cup & Handle PLS going up ? I am seeing a potential cup and handle for PLS stock. Let's see this grow.
