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.
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PME daily GMMA chart attached below. Note how price is still...
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Last
$128.09 |
Change
0.000(0.00%) |
Mkt cap ! $13.37B |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1 | $140.89 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$120.00 | 45 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1 | 140.890 |
1 | 21 | 135.450 |
3 | 94 | 134.490 |
1 | 199 | 133.520 |
6 | 468 | 132.870 |
Price($) | Vol. | No. |
---|---|---|
120.000 | 45 | 1 |
121.690 | 695 | 6 |
121.820 | 75 | 1 |
124.250 | 84 | 5 |
124.500 | 22 | 2 |
Last trade - 09.46am 12/08/2024 (20 minute delay) ? |
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PME (ASX) Chart |
Day chart unavailable