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Scott th Ratbag

44,572 Posts.

642

23/08/22

18:01

Post #: 63277461
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Originally posted by Mason8: ↑

Don’t be too disheartened gentleman.

Something very interesting when you view the long term trend starting from 2011 (about 11 years).

In 2014 & 2018 we hit the long term downtrend line (marked below in red) and rejected to go lower. However, in December 2021 we finally broke through the long term downtrend line (after 10 years) which is a hugely significant move in my opinion.

Interestingly, we have fallen from ($0.38) to back-test the long term downtrend line and appear to have even briefly (faked) below it before moving back above it.

Today’s close looks to be sitting back squarely on this downtrend line.

In my opinion, I believe this is setting up for a monster run up once successfully held and tested again.

Remember, once it finally pushed through a 10 year trend, it was a game changer in my opinion.

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I get your point bro.... the TA of this long-term picture doesn't take into account the changed dynamics affecting the sp movements of the last few months (since the 38c spike).

this is, imo, the problem with TA on its own.

PAN Price at posting: 22.5¢ Sentiment: Hold Disclosure: Held
4 Upvote

1 Great analysis

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