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Pampa Energia S.A.Pampa Energia S.A.Pampa Energia S.A.

Pampa Energia S.A.

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PAM trade ideas

PAM setting up on daily/weekly time framesIt's always optimal when whatever it is that we're interested in trading to be setting up on multiple time frames. Here, PAM is setting in in a 4wks tight pattern on the weekly chart, and in an ascending triangle on the daily chart. A quick look at the volume bars shows us that PAM is presently being accumulated. This is further confirmed when we dig deeper and see that fund ownership has been steadily increasing over the past several months. The RS line is hitting new highs ahead of price on both the daily and the weekly charts. Another positive across time frames. On the weekly chart, we see both the 10wk line as well as the 40wk line beginning to curve higher. This is an indication of the uptrend accelerating. Finally, the daily chart gives us some pretty clear levels to play against. There is resistance right around 32.65 and that's where I have my pivot point. I'm seeing 31.31 as the nearest support level with the 21ema close behind. For ascending triangles, the target is approximately the depth of the base. With that being approximately 2.50, that brings us to a target of roughly $35. If the target is hit, I'd look to lock in some profits while letting the rest run.
NYSE:PAM
by MichaelGLamothe
Pampa holding.SA... holding for dear life?Two scenarios: Fifth wave has already developed, it failed to reach its target of 12.41 and is now going to retrace the whole movement (first target 5 usd area).. or the fifth way hasnt developed yet and we are just seeing wave 4 in progress, and wave 5 will hit its target at 12,50 & 13,79 for a last bang. For now, wave 4 holds 38% perfect retracement, so now its just a waiting game If price shows a significant impulse to the upside or crosses 12usd I would buy for a 12% pop, setting my stop loss at 11,39, for a 6% downside. If Price action doesnt hold 38% retracement i would target 62% & 76% (double top height down) as targets for a short or option trade. In the fundamental side of things, pampa is an energy generation & distribution company, having a lot of trouble to make ends meet in the distribution side of things, since user fees are frozen by the goverment since 2001. There has been a fare/fee update in mid 2014, but it has not been enough to cover productive costs. Edenor, a pampa holding division company has entered in negative equity in 2014. For now we keep a neutral position and wait.
NYSE:PAM
by peterboss
1