Thanks Joe as usual for your concise assessment. T/A wise it will be very difficult for it to stay at this level for very long, something HAS to happen, be it good or bad. It's been too volatile these last few weeks to just go flat. So now I'm going to put whatever little reputation I may have on the line and make some bold predictions.
All the really important lines are the thick ones. Black has already happened, and though I'm no expert follows the Elliot wave theory rules very nicely. So after the 5 waves up (numbered) there is usually a correction, whether triggered by an event or the profits from early holders getting too tempting to risk. The correction pattern is marked ABC and is very typical. What I can't tell is whether "C" will be where I have marked it or whether it will fall to the next support line at about 48c. I really doubt that will be the case, but if it was then the red line paints my forecast. If "C"is where I have marked it at 58c, which I think is right, then the green line is my forecast. It may just bump into the 75c line and get stuck, or if it get's through it should bounce back on it then have another shot upwards, maybe to 85c before stalling.
So now lets see what really happens and find out if all that is just pointless scribbles.
PGC Price at posting:
58.5¢ Sentiment: Buy Disclosure: Held
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