PLS chart, page-18602

While AKE's volume was decreasing for the last 4 days, PLS' was increasing for the last 5 days. I said in AKE Chart that AKE's decreasing volume shows the weakening of the bearish momentum, I will now say it here that PLS' increasing volume also shows the weakening of the bearish momentum.

That may sound contradictory. But it is not contradictory because that conclusion is not drawn from the volume alone, but is drawn from the correlation of volume and the spread of the share price. AKE has a relatively low volume with a wide spread candle, while PLS has a relatively high volume with a narrow spread.

Last Friday PLS got a narrow spread red candle with a long lower shadow (twice the size of the body) and with a high volume. That indicates that sellers kept selling to push the price down but buyers absorbed the inflow of supply. The long lower shadow and the narrow spread of the candle signify that the bullish momentum is in control.

This bullish momentum has been consistent and growing for the last 5 days. To me it confirms that PLS is being accumulated just as AKE is; supply is absorbed. And I think after 5 day absorption, the supply is drying up, and so a reversal is unstoppable now. I think PLS will close green tomorrow.