Pro-Pac BULLISH BUILDUP ASX:PPG Pro-Pac Packaging Limited, together with its subsidiaries, engages in the manufacture and distribution of industrial, flexible, and rigid packaging products in Australia, New Zealand, and Canada.
Bullish Outlook:
Currently waiting to see if price breaks Daily Resistance and confirms the Marco Ascending Triangle which is highlighted blue. Targets are the Internal Move and Flag Pole Distance at break of Resistance. Bullish Market Structure leads me to believe that Resistance will break soon.
Note: Potential Timing for Reversal is aligning with Upper Band of Trend Channel Resistance so we could see some action around that level.
Bearish Outlook:
If we fail Daily Resistance and return to Trend, there is always a possibility of a break, my next area of interest would be the Daily Support.
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