PCL 0.00% 1.5¢ pancontinental energy nl

Here is a quick chart (because I've not done one in a while -...

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    Here is a quick chart (because I've not done one in a while - and now is the time to be watching carefully IMO - as mentioned above it looks primed..it just lacking volume).


    A few observations:

    Support/Restance lines: PCL has been conforming fairly well to trend since Jan 2022. Consistantly finding support on '3.', and resistance circa '2.'. Approx late June 2024, it broke this upward support trend, and appears to be finding demand circa 0.015 (which if you look at history, actually forms a double bottom with September 2023, and finds support off the top of the high in circa May 2022 - so has strong historical significance at this level. Refer to support line '1.' drawn.

    Oscillator: the downward trend is weakening.You can see the momentum is beggining to level out. You can also see historically what happens after the momentum shifts from the downside, it switches to the upside..which is in the early stages.

    MACD: refer to when the blue line crosses the orange line - what happens? The SP appreciates. After a seriously brutal (and prolonged selloff) the MACD downtrend is levelling. It looks primed for a reversal here...but likely will need 'real' news - ie, confirmed Seismic License approval and/or WDS confirmed farmin (before volume returns, and drives the blue line upwards).

    Stochs: Again, we are in fairly severly oversold territory. History would dictate that each time in the past we've been at these levels, a reversal to the upside is not far away. It's always darkest before the dawn. The only fundemental reason we are bottoming out sideways here is because timelines have drawn out (namely for seismic license approval, WDS stop date start, and subsequent farmin), and people are getting impatient, combined with wolf brokers (such as Euroz) which pray on this type of delay.

    NOW, keep in mind Technical Analysis is all just pattern matching, and squiggles - and in many cases just guess work in the small cap domain - so take this with a grain of salt. I'm personally a believer that the fundemental narrative has not changed, charts look primed (imo), they are just lacking volume. Make of it what you will, and hope some find it interesting.

    https://hotcopper.com.au/data/attachments/6523/6523849-c6a245876caa64fdbf8bb0f5ec81f62b.jpg

 
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