PCL 0.00% 2.2¢ pancontinental energy nl

Nothings changed - the usual institutional play (create fear and...

  1. 3,287 Posts.
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    Nothings changed - the usual institutional play (create fear and uncertainty - also locking in profits to de-risk position perhaps). From a SP perspective, it is repeating the same pattern it's done in the past - multi-week/month triangular wedge consolidation, after creating a new high of 0.028 a few days ago. Range looks like 0.021 (circa bottom channel) to 0.026 (circa top, where we've been getting rejected). Roll this out to the June/July timeframe, and we'll be testing new highs again by August (assuming there is no negative fundamental changes). Charting is almost 'text book' (which i like, a lot) - not financial advice....but....opportunity as Jibs mentioned....

    https://hotcopper.com.au/data/attachments/6141/6141239-1d50e79cf01ef771971396daab6af1c8.jpg

 
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