A very nice few days of trading.
With the positive background of a rising LIT ETF, we've seen really good follow through from our own PLS.
Short-term price targets to get back on top of the 200EMA (prior strong support) have been blitzed through and we're now seeing higher highs.
I'd expect to see a bit of a breather from here over the next few days (a bit of consolidation always a good thing) bouncing along overhead resistance in the 95-96c range based on previous tops and the 61.8% fib level. Particularly as the RSI starting to get extended.
Probably still too early for full confirmation until we get the formal ASIC data for end of last week and today, but I'm interested that this does not seem to be the short-covering rally we saw in early-mid July which coincided with the positive research coverage from Credit Suisse.
Reading the tape - particularly the way entire lines of offer have been wiped at once - this feels like an institutional buying rally. If shorts start to cover, we could really see some gasoline tipped on this fire. Suffice to say if they're not hurting after a 25%+ rally from the early-September lows....they will be if they're late in the rush to cover!
Happy Monday everyone and GLTAH
A very nice few days of trading. With the positive background of...
-
- There are more pages in this discussion • 535 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add PLS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.88 |
Change
0.030(1.05%) |
Mkt cap ! $8.672B | |||
| Open | High | Low | Value | Volume |
| $2.83 | $2.92 | $2.82 | $14.38M | 4.999M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 54 | 73550 | $2.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.88 | 62933 | 25 |
View Market Depth
| Last trade - 12.00pm 18/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |