PLS chart, page-893

It's been a while since I posted my last very simple TA analysis. For me it helps with perspective and blocks out the noise of the market, HC and any other news doing the rounds.

The timeframe is from that key date of 26/10/20 (AJM receivers appointed). There is no candle for the 28/11 as PLS was in a trading halt and announced the bid for AJM. This is when the current uptrend started. The previous 15 month period was that horrific bottoming pattern that sucked the life out of many a SH and they capitulated. Well done to those that accumulated in that period. It's not easy to take a contrarian position when the herd and downrampers are calling the end of the world. It takes a lot of intestinal fortitude, faith in one's research and possibly a little stupidity. I fit into the stupidity category.

The lines are Magenta 200 SMA, Green 50 SMA, Bollinger Bands 21 Day (fibonacci) with 2 StdDev. The Blue is 21 SMA which is the mid point of the Bollinger Bands.

I have reduced the time frame as it puts the parabolic look of the trend in a longer time frame, out of the picture. Perspective.

200 SMA - not likely to be in play for a long time. It's pointing up. Leave it at that.

50 SMA - 2nd line of defence. A sustained close below this would be a worry. With current fundamentals and outlook, highly unlikely. It currently sits at 85.5c.

Bollinger Bands - Trend has been hugging the upper bands with occasional forays above. Notice that each time it ventures above the upper bands it
snaps back inside with a red candle. The most recent foray above was extreme and so resulted in an extreme opposite reaction to pull it back inside the bands. Normal trading behaviour and not something a LT holder should be reacting to, as tempting as it is to take some short term profits. Each to their own strategy.

The 21 SMA has been touched once at another key date 16/12/20. It resumed trading ex-entitlement offer. Intraday trip below and closed above. At the moment the trend is happy in the bands above the 21 SMA which currently sits at 106.5c.

Summary of my view. Happy with trend behaviour and fundamentals. The appearance of blowins on the forum trying to rattle nerves is another positive indicator and one of my favourites as I get to have some posting fun.

All IMO and any views expressed here should not be taken as investment advice. GLTAH.