PYC Chart looks the goods, page-199

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Medicine Man

211 Posts.

1883

20/01/21

23:46

Post #: 50323879
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Originally posted by Medicine Man: ↑

Hello @@86 thanks for your posting, I seldom use the CommSec platform, it would be great if you could show us the steps to get to the narratives about the "different sentiment between the summary on the comsec site to that which you have posted".

In your second posting:
"From Comsec
Although PYC's 200-day moving average is trending higher, there is significant evidence that the bullish trend is near an end. Recent price action has shown a lack of strength as the 5-day moving average has fallen below the 50-day moving average and the 20-day moving average is trending lower. Long-term investors should proceed with caution."

I would like to run through the technical indicators mentioned above and share the discussion with HC members interested in TA.

Here are my observations and comments.
"200-day moving average is trending higher, there is significant evidence that the bullish trend is near an end." The 200MA (orange line) has been trending up and it has NO sign of flattening, indicating the bullish trend is NOT near an end. In fact the gradient has gone steeper since Oct-2020. So the longer term uptrend is getting stronger.
"Recent price action has shown a lack of strength as the 5-day moving average has fallen below the 50-day moving average" The 5MA (brown line) did fell below 50MA (light blue line) at end of Nov-2020, but it has bottomed and trending up towards the 50MA. SP for the last 3 days were artificially pushed down by 0.5c or more on close. Otherwise the 5MA would have brokenabove the 50MA.
"and the 20-day moving average is trending lower." Look carefully and you would see the 20MA (black line) has started trending upwards.
"Long-term investors should proceed with caution." Based on the commentaries above, draw your own conclusion.

The next move should be UP
In TA, we look for similar patterns and hope the outcome would be similar to the past.
In Mar-2020, the 5MA, 20MA, 50MA, and 200MA were all aligned in the same order, SP had a bottoming and the 5MA cut above 20MA then touched 50MA. Just looking at the SP candles and you could see a bottoming has formed. Look what had happened after the bottom. Had you spotted the turnaround and back your truck in at 6c, wouldn't you be a very happy person? Disclaimer: "Past performance doesn't guarantee future results"
The support line @ 14c hasbeen successfully retested 6times since the flash crash.It's a solid sign of bottoming.
For as long as the SP stays in the upper half of the Bollinger Band, it has a better than 50% chance of going up. That's the purpose of the mid line in a Bollinger Band. Here, the 20MA coincide with the mid line.
The closing price for the last 3 days have been artificially pushed down between 2.6 - 4.3% from the pre-close daily VWAP (Volume Weighted Average Price). As I have mentioned in my Post #:49547949. "There are always people who would want the closing price higher so they could sell more the next day. On the other hand, there are some who would like to push the closing price lower to create fear, so they could buy cheaper as the weaker hands would start to sell lower when market reopens. " So this is a clear sign of someone wanting to buy more!

These are my analysis and TA thoughts, DYOR! If you would like more of these charts and analysis, please click the "Great analysis" button for encouragement.

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Here is the last 3 days' closing price variance to VWAP
PYC Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

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(20min delay)
Last 17.0¢		Change 0.000(0.00%)		Mkt cap ! $781.5M

Open	High	Low	Value	Volume
17.0¢	17.0¢	16.5¢	$51.00K	301.2K

Buyers (Bids)

No.	Vol.	Price($)
11	294623	16.5¢

Sellers (Offers)

Price($)	Vol.	No.
17.0¢	83350	5

View Market Depth

No.	Vol.	Price($)
11	294623	0.165
14	372321	0.160
9	318578	0.155
12	358614	0.150
5	136689	0.145

Price($)	Vol.	No.
0.170	83350	5
0.175	238448	7
0.180	842550	10
0.185	1247256	13
0.190	641611	9

Last trade - 11.31am 08/10/2024 (20 minute delay)

PYC (ASX) Chart

PYC Chart looks the goods, page-199

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PYC Chart looks the goods, page-199

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