PME daily GMMA chart attached below. Note how price is still above rising longer-term 150 and 200-day exponential moving averages. However, many traders' trailing stop losses would have been hit, hence they would have recently exited PME. The first exit point was a Guppy CBL at $15.93. The second wider trailing stop loss was 3 x ATR at $15.54. This is the green dotted line. The 4 x ATR exit line is $14.93 that was breached today at $14.83 close.
Note how 3 x ATR triggered an exit back on Jan 30, 2019 at circa $12.28, but price subsequently recovered. This indicates that a 4 x ATR trailing stop may be more suitable for PME. Each stock exhibits different average volatility that require different ATR multiples.
A possible buy entry is immediately after price trades above today's $14.87 high. However, if price continues to fall below today's $14.60 low, the potential entry point needs to be re-calculated. This is a retracement (or buy on weakness) trend trade that I currently have on my radar.
- Forums
- ASX - By Stock
- Ann: HY2019 Investor Presentation - March 2019
PME daily GMMA chart attached below. Note how price is still...
-
-
- There are more pages in this discussion • 10 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PME (ASX) to my watchlist
|
|||||
Last
$131.78 |
Change
-2.460(1.83%) |
Mkt cap ! $13.76B |
Open | High | Low | Value | Volume |
$135.00 | $135.64 | $129.62 | $56.72M | 430.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 253 | $131.77 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$131.84 | 408 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5 | 131.700 |
1 | 7 | 131.010 |
1 | 76 | 130.500 |
1 | 19 | 130.100 |
1 | 87 | 130.000 |
Price($) | Vol. | No. |
---|---|---|
131.840 | 249 | 2 |
131.880 | 50 | 1 |
132.000 | 38 | 1 |
133.300 | 200 | 1 |
134.000 | 309 | 2 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
Featured News
PME (ASX) Chart |