PLS chart, page-12907

As mentioned in a previous post there were a number of TA hints why IMCO PLS had reached a top, namely RSI negative divergence combined with early signs of a Wyckoffian distribution, which later confirmed and my Elliott Wave Theory wave count. All of which naturally got disputed, but hey ... . I also mentioned that under certain circumstances TA can work against what are well understood fundamentals, which PLS LT holders use to dispute reality, which is understandable.

In answer to you question though IMCO what PLS is not as you mentioned demonstrating a contrary trend, it is simply experiencing a correction within its uptrend.

I have seen different opinion on the PLS wave count, however depending on one’s ideas on where PLS is within the overall wave count and with that how far this correction might go. On that note, I have included two different Fib retracement scales. One simply retracing the last move up and the second retracing the entire last wave up starting from the $1.97 low.