PLS chart, page-14

Currently price is consolidating on the daily chart. This is happening after a massive spike in price, that exceeded the 100 / 200 EMA, but then rebounded off the very significant resistance point of 38c, very sharply, and is now consolidating below the 100 / 200 EMA.

Now, look at the chart below - this is from early 2019 - as you can see there is a VERY similiar trend here. The price tested the previous high (resistance) of around 83c, and the was rejected sharply (4 red daily candles), before moving sharply lower. Notice the white vertical line I've drawn that shows the position of the MACD on the chart - looks pretty similiar to where we are now, doesn't it?

Now this doesn't necessarily mean that now price will start to move lower for PLS, but trading back below 100 / 200 EMA, and MACD entering bearish territory does suggest quite a strong possibility of short term bearishness and increase in the shorter %.

My tip to you is to include support / resistance analysis and also look at historical price movements to have a better informed trading strategy. We are currently trading near the support of around 26c (see second chart below). My own analysis tells me the probability is much higher in the short term, to the downside, than the upside, both from a technical and fundamental POV. But for me, as both a trader and LT holder I'm happy to wait for lower prices.