OBV broke downwards on the daily chart, with price breaking through support on above average volume on Friday. I would expect this to retrace to the .5/.618 fib level. The evening star 3 candlestick pattern (12/15/16th Nov) - the star (long wick) indicates buyer exhaustion at that level aka bulls are not in control. This culminated with Friday's price action a drop of 2.9% (3.1% relative to all ords) on above average volume all negative indicators in the short-term. The move up since what looks like a morning star pattern on the 5th Oct has been on average volume and not enough to break above ATH in this wave. This is the third rejection of price at this level which indicates the market overvalues PLS at this level at this point in time. After a small retrace here the next wave up on stronger volume might be the next opportunity for ATH, but for anyone looking to enter there might be opportunity coming at lower prices soon imo.
TA is analysis of price point data - it not upramping or downramping and its not necessarily reflective of FA.
PLS chart, page-3912
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Last
$2.98 |
Change
0.110(3.83%) |
Mkt cap ! $8.969B | |||
| Open | High | Low | Value | Volume |
| $2.99 | $3.10 | $2.95 | $98.90M | 32.90M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 16986 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.98 | 175531 | 5 |
View Market Depth
| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |