PLS - 2020 chart thread !, page-258

I read often that volume analysis when price is peaking or bottoming with large volume transactions are turning points. Today's sell off coincide with the disappointment from the Qtr reporting, which IMO is ot a good knife catching opportunity. When the bears are loaded either with their shorting OR bulls clearing off, the DCB opportunity is once again a good buy but when (?).

One possibility is to wait for the RSI as @h00ts suggest when it hits the 30 level to drop on knees, buy and pray it hasn't much further downfall to go. 27C looks like a possibility with the momentous selling as expected from the current issues. @8horse back envelope calculation of the cost still has a lot of cost cutting to knife into before it can continue as an on going concern. I had personally anticipated the result to be disappointing based on the CR issues and we REALLY do not need the paranoia of the Coronavirus drawing conclusions of Chinese economy grinding to a standstill!

On the second week of Jan when officially the virus was defined to be an issue, Santa was propping upbeat sentiment all round. I got sucked into this thinking too since markets are much more responsive to risks, perhaps the post partying relief of the Phase 1 agreement rose above all issues.

This could be the Black Swan or another false one?? SARS came on when the market was at the bottom cycle, this time we are perceiving over valuation markets so .....