PLS chart, page-20682

Hi Folks

If you have seen many many summers and study the charts, you can see some remarkable coincidences. Todays PLS action bought back memories of some past summers.

The coincidence I am focusing on with this chart post is the Chinese Lunar New Year festival-holidays and what happens to the PLS SP.

The festival usually starts the Spring festival eve with 7 days of national holidays. Many factories and businesses close for a 2 week to 4 week period.
Lantern day marks the end of the 2 week period.

My first chart covers the 2 week and 4 week period of the Chinese Lunar New Year festival for 2023, Spring festival eve was 21 Jan. What a remarkable rise up 31.5% and then a fall back after 4 weeks.

2022 Lunar Festival chart follows




The 2022 Lunar festival started with the Spring festival eve on the 31 Jan

After a strong two week drop in SP prior to the festival period the PLS SP managed a muted 16% rise during the start of the festival. However from that peak there was a 27% drop to the end of the 4 week period. So a muted rise and savage fall.

2021 Lunar festival period follows.




The 2021 Lunar festival started on the 11 Feb.

A flat 2 weeks before the festival followed by a strong 23% rise at the start of the festival, then a drop from the peak of 23%.

More comments follow.



So in summary we can see that while the Chinese cats away the mice play with the PLS SP.

So todays 5.5% rise comes as not surprise to me, and it's still early days of the festival.

The big question that remains is where the SP will be towards the end of the 4 week holiday period.

Just my opinions as always DYOR

We shall see?

cheers Lies