Technically Speaking, page-25

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27/11/18

10:55

Post #: 36651065
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Originally posted by tukebay ↑

It has been over 2 weeks since anyone has contributed to this thread but I just crunched some numbers and the outcome was just too coincidental not to share.

On our first move up, PO3 ran from 44c to $2.62 and corrected to a low of $1.74.
The correction of that move stands at 40.4%.

We then consolidated for 7 trading days before beginning our next leg up.

The next leg up took us from $1.74 to a high of $3.75.
We are currently in the midst of our next consolidation and thus far the low has been at $2.95.
Assuming this low holds, the correction of this move will have been 39.8%.

TAs are well of the 38.2% Fibo retracement and, given the still small market cap of PO3, the 2% may be a case of "near enough being good enough". However, assuming Friday's low of $2.95 holds, it seems as more than a little of a coincidence that both corrections are within half a percentage point of each other.

Bottom line: PO3 has its AGM on Friday and I'd be rather surpised if the stock wasn't trading through the $4 level around that time.

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Well, Tuke-stradamus has called another milestone in his last sentence from a post earlier today ....

Jumped nicely into the $4 territory.

Only $16 to go before we hit the "conservative " valuation mark.

PO3 Price at posting: $4.08 Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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Technically Speaking, page-25

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