FOMO continued overnight Definitely shouldn't be that high yet but FOMO is a wonderful thing
No chance for bears to get out yet (they did have 2 sessions on the 17th & 22nd april but everything else has been a straight squeeze since the 7th april)
XJO almost reached 8100 (top of this range) No flush during this range yet (support at approx 7800. Usually at least 1 test each range. I did expect multiple tests for each but that hasn't happened yet) No support test since the 11th april
PNV stays above 1.12 & they can maintain an easy uptrend No breakout until PNV is above 1.36 PNV closing above 1.18 on Monday puts us into the 1.36 channel
I will put my buy sentiment back on when they test support, not during breakout attempts Personally, I won't buy more unless it's back at 0.95 (or lower) but my buy sentiment will be back on at either 1.11 or 1.05 (If PNV can't reach 1.28 before it loses 1.11, then I presume 0.95 will get tested. Otherwise, 1.05 should be the lows from here) If it tries to run without market conditions supporting the breakout, I don't believe PNV bears will try to cover I believe they will keep shorting as the price goes up In a few months we'll be back here again with more whinging from retail (bears will be convinced it's a bear market) But this time they will cover during the next market tumble (which means lows are already in as they can't make new lows, but they need to wipe out as many shareholders as possible) Market conditions will def support the next breakout attempt
While the market does have an uptrend from the 7th april (had no choice as the market couldn't get any lower without scooping up more shares), there is still no guarantee they will take the suppression off Until we get the red flush, you don't know how many shareholders will hold & how many will jump Market still in consolidation since oct 2024 but very close to the melt up breakout Until it actually breaks out, I won't be calling it
I'm not posting the 8 charts I used to provide this narrative I'm not posting every chart I use for every analysis Much easier to post some numbers off those charts with a little explanation (I could just skip the explanations altogether if it's preferred. Saves me a lot of time) There is also an ignore button that can be used
PNV Price at posting:
$1.17 Sentiment: None Disclosure: Held
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