Based on past chart action, PDN should retrace back to around $9.50. I don't think it will retrace as far back as $9 unless some major unexpected event like oil prices falling back to $50 or U spot price plummets.
Its a case of 3 steps forward and 2 steps back.
The RSI was hitting 80 which suggested PDN was overbought in the short term. A very strong indicator for shorting which is what happened today.
Based on past chart action, PDN should retrace back to around...
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Last
$13.99 |
Change
0.010(0.07%) |
Mkt cap ! $4.182B | |||
| Open | High | Low | Value | Volume |
| $13.78 | $14.02 | $13.62 | $27.61M | 1.999M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 198 | $13.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.00 | 5278 | 3 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |