PRD trade ideas
PRD.GB: Bullish Flag, confirmed (45%)Bullish Flag, confirmed (45%)
Pros:
Volume during post
Descending volume during flag
Volume during break out
PPS above 50MA and 200MA
RS above 0 and ascending
R/R ratio above 5
ATR ascending
250RSI above 50
200MA ascending
Target:
PT = 17.50$
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Possible retrace to 9p-10p before next leg BULL TRENDIt could still head higher as RSI is strong but I would have sliced at 12p-12.25p to protect some profits.
trend is a really good bullish one so a retrace doesn't harm for new positions to be taken.
Production should give a nice boost to further push price up.
Bought at 2.4p-2.5p & sold at just above 100% I can see it was premature but that's ok as I used the profits elsewhere which done well.
Still following story & like it very much so, perhaps in future I will take a further position
Strong last week - above t-line - 9p-10p resistanceIt managed to close above t-line & 20ma so this week it could head back to resistance but watch for any weakness as it's not out of the woods yet.
We need to have a bullish divergence on RSI as well on next bill run as if not it could be weak & head back below.
9-10p is next resistance for a slice in case it doesn't break out. or for a break out trade wait for close above 10p or check volume when a break happens.
