I'm going out on a limb here and calling the bottom pattern as having commenced. Not advice, just my view of the land.
Keeping the chart really simple. To the extreme left of chart, the Altura asset finalisation and the start of a rebirth for PLS to what we see now. Thank you Australian Super for seeing the light.
The Magenta line is the 200 SMA, so we are finishing the year as near as damn it, on the line. Will they manage to get it under for a few months as in June/July 2022. We'll see. If they do, I have some lazy cashflow that needs a home.
I liken the treatment of PLS's shareprice to a process control loop. Apologies, but some of my career was spent with that experience.
When setting the parameters for the control loop, you seek to find a set of numbers which enable the process to remain stable. The loop can become unstable by an outside factor not accounted for when setting the parameters. (Insert CS, GS, MS, UBS, BS here) Now in the case of PLS's uptrend, having a stable boring uptrend doesn't allow the traders and big money to make the profits they seek. Creating an unstable SP is in their interests. By pumping and deflating the SP with extremes above and below the mean gradient, they make the profits they desire.
The red trendline is a subjective trendline that is approx' the mean gradient of the uptrend. As can be seen, 2021 was spent in close proximity to that trendline, then late 2021 the games began. 2022 has been a traders/ big money play thing, with wild oscillations to extremes above and below the mean trendline.
Now, is this extreme below the trendline the bottom? I dont know, but there are indicators to say it's close. Some short covering, RSI at the lowest level since the start of this uptrend. FUD ramping and the presence of some unsavory characters.
LT shareholders who don't want to trade, just have to suck it up and follow the money when disconnects to fair valuation are on offer. I will continue to ignore the noise and go with facts that are in front of me.
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