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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1 | 2000 | 12.950 |
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Price($) | Vol. | No. |
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