PDN 1.21% $13.01 paladin energy ltd

chart, page-2

  1. 733 Posts.
    TK, I dont normally follow Paladin, so dont have much of an idea of fundamentals etc.

    But Paladin came up in a scan based on the ascension of the uptrend.

    My take technically, the price action is at a cross road.

    5.45ish is the 23.6% fib retracement from the 10.80 high on the 10/4/07 and the 3.80 low on the 22/1/08.

    MACD, RSI all have potential to move upward from here possibly to 38.2% retracement

    BUT if you draw a trendline from along the peaks of 7/12/07, 4/1/08, 29/2/08, 5 & 6/3/08 they meet at around 5.45.

    I believe that tomorrow will determine whether the stock tries to push to the 38.2% fib level and possibly above or it will meet the rising trendline to form a higher low somewhere near 4.25ish.

    Alternatively, a push through the 38.2 fib level could reach the downtrand line from the peak on the 10/4/07 & the 7/11/07.

    Just my thoughts.

    I will wait to see tomorrows price acxtion before entering a trade either short or long.
 
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