PME and CUV recently had significant retracements. Their charts also look similar as they were recently trading at new 10-year highs in blue sky territory. CUV recent retracement = 17.1%. PME recent retracement = 16.2%.
Both stocks are of interest because they come up in the new 10-year high scan.
However, on a monthly chart, both PME and CUV are unusually extended above the 10-month EMA line. As of yesterday's close, PME was $14.83. The 10-period EMA line sits at $11.28. This alone could warrant some caution before buying. Historically as seen on a monthly chart, PME and CUV tend to trade near the 10-month EMA. Note how PME never significantly trades below the 10-period EMA. This is a sign of trend strength. See PME monthly chart attached below.
This PME chart is one to stick on the wall for reference purposes as an archetype trend to watch out for.
PME and CUV recently had significant retracements. Their charts...
Add PME (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$113.52 |
Change
1.420(1.27%) |
Mkt cap ! $11.85B | |||
| Open | High | Low | Value | Volume |
| $112.10 | $113.93 | $112.06 | $16.17M | 142.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 144 | $113.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $113.67 | 328 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$113.59 |
Change
1.420 ( 1.11 %) |
||||
| Open | High | Low | Volume | ||
| $112.17 | $113.91 | $112.17 | 26535 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| PME (ASX) Chart |