PPS trade ideas
PPS.ASX_Retracement Trade_LongENTRY: 1.450
SL: 1.255
TP: 1.610
- ADX>20
- RSI>50,RSI<70
- Daily RS +ve
- Daily FFI +ve
- Daily MACD -ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD +ve
- Retracement to cover gap and until 50% fib. level since 2 Nov 2021.
- Possible buyers coming back in on 29 Nov 2021.
- Above HVN currently as well.
3rd times a charm?Two options....imo
1. Move sideways briefly to where the trend and resistance line meet and then gap up to low 0.40s and float back down to rebound again off the trend line.
2. Will immediately gap up to low 0.40s
With different indicators it seems to be comfortably bullish.
Solid trend line confirmed, making higher lows.
Support and resistance confirmed.
Plenty of momentum.
RSI not in oversold territory but just cruising up steadily.
OBV, yes definitely has buying interest there.
Another thing, MACD histogram on the weekly chart is ending its bearish phase and suggesting a new bullish trend.
Could turn into mini triple top reversal but with the momentum it currently has and the overall market incentive I think we will be alright.
I don't think we will make it any further up yet because there is a cluster of resistance lines up there, so I would just take the 15-20% gain or whatever.
Buuuuuuuuuut you know how it is, the market does what it wants and loves to prove us wrong.
PPS - Praemium Ltd Short-term tradingPPS
The brief trade analysis presented above is my predicted direction.
The daily chart show the bullish signal.
The price bounces from EMA 100 and RSI confirmed price reversal.
We should be ready to see the further upward movement.
Profit targets are $0.75 and $0.80 levels.
