Hi @W3hunter (et all PLS TA'ers) ... Been awhile since I've been here but thought I'd provide an update. 1st posting this year was back in July(see link below) when I was "pre-empting" a Reversal pattern possibly in play. Had to be patient with it BUT certainly that entry, based on the pattern unfolding, has come to fruition(+ some).
https://hotcopper.com.au/posts/45866178/single
Today, the (since slightly adjusted)pattern's measured move was met(72.5c) on the back of two Fib Extremes targets(yesterday's close and then another today at today's high).... see updated Daily chart below. SO, I took 50% off the table, not fully exiting as I'm still comforted by the Weekly picture; structure of wave movement out of the 13.5c low looks unfinished ... from an EWT observation ... and maybe we are just near completing a wave 3)but also we are in our 2nd week above the median-tyne of the AP shown ... that's positive going forward. There are, as noted on both charts, good potential resistance barriers betwx 80c and 86c that may cause more concern so will watch more closely if the SP reaches there.
The next day or so should prove interesting(clarify) ... why? Today's action, apart from what I have already mentioned above, also shows a potential long-legged Doji Star Candle Reversal Pattern which, after such a steep upthrust, is usually very reliable. AND, there was plenty of SUPPLY in today's action. Anyway, I await tomorrow's action! If a dark cloud then that's confirmation for at the very least a short-term top in place and more likely the commencement of a longer-term consolidation/correction phase ... down to even 60-55c??? However, I also said its too early to ear-mark that in as its still likely this has more legs in it short-term and we may see the low to mid 80's before more substantial selling comes in. If it get's there, before seeing below 62.5c(my buy back), I'll probably liquidate another 50% of my remaining 50% ... but that's just me!
Updated Daily Chart ...
Weekly Chart ...
GLTAH .... My sentiment shown below is now currently "None" because I can't say its "sell" in the S/T but then "hold" for the M-L/T.
PLS chart, page-600
-
- There are more pages in this discussion • 21,863 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add PLS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$3.00 |
Change
-0.050(1.64%) |
Mkt cap ! $9.029B | |||
| Open | High | Low | Value | Volume |
| $3.03 | $3.06 | $3.00 | $41.07M | 13.59M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 97 | 622937 | $3.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.01 | 580 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |