PPK 17.4% 40.5¢ ppk group limited

PPK Charting

  1. 306 Posts.
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    PPK is a stock I haven’t looked at before but price has a very clear Elliott Wave count (something I always like) and seems to have recently started rising on Wave 3 – the longest and strongest rising wave in a price cycle. There is a strong level of resistance at $4.85 and a break and close above that level suggests a short- term target of $6.07 and potentially a higher target of $6.70. The higher target has the stronger pattern so that is my guess where price will head in the short to medium term. Incidentally, price movements last week suggested that the $4.85 resistance was an even earlier target, albeit now not sufficiently far enough above current price for it to pass the risk/reward test, Price is in an uptrend, above a valid weekly uptrend and making higher troughs and peaks on the weekly chart. In summary, PPK has a very strong chart and for me an aggressive buy at the current price (based on an expectation of price moving above $4.85) but it would not be unexpected for price to fall back after achieving $4.85. Anyone buying now would need to watch price closely around that target level and have a solid stop loss policy. The more conservative approach would be to wait for price to move above $4.85 but that could see less potential profit in the trade and given the 8.5% move up last Friday (17% for the week), there is always the risk of 'missing the bus' if there is a continued strong move up. That said I've bought a few this morning.
    https://hotcopper.com.au/data/attachments/2571/2571344-3c0452fcb28d55658f31fc0aca099a22.jpg
 
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Last
40.5¢
Change
0.060(17.4%)
Mkt cap ! $35.97M
Open High Low Value Volume
40.5¢ 43.0¢ 39.5¢ $408.0K 994.0K

Buyers (Bids)

No. Vol. Price($)
1 5000 38.0¢
 

Sellers (Offers)

Price($) Vol. No.
40.5¢ 1999 1
View Market Depth
Last trade - 16.10pm 17/06/2024 (20 minute delay) ?
Last
39.5¢
  Change
0.060 ( 14.5 %)
Open High Low Volume
42.0¢ 42.0¢ 39.0¢ 40396
Last updated 15.58pm 17/06/2024 ?
PPK (ASX) Chart
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