Hi, I have revisited the weekly chart, and looked at the run from 135 cents to 3.89 ATH.
I focused on FIB retrace 61.8% is: 2.4575.
To my knowledge, to call a confirmed downtrend, the SP have to reach to 38.2% and below, means 1.5725.
What PLS has done in the past 4-6 weeks was retrace back to 61.8%, then finished last week at 2.910, which is typically ready for next run, and we saw the 61.8% was well supported.
Also, combining the fundamental of PLS, several posters have done great evaluation, and personally I think the range is between:
2.54 to 4.70.
With Energy transforming from fossil to renewable, market is likely to take a higher PE (3.89 could be considered as overvalued by that time), which means the fundamental support the SP sits above 3 AUD, anything around or below 2.54 would be a buying opportunity.
Of course, predicting the SP is only a game, so people shall do their own research. And this is my 2 cents.
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Last
$3.06 |
Change
0.040(1.32%) |
Mkt cap ! $9.210B |
Open | High | Low | Value | Volume |
$3.04 | $3.12 | $3.02 | $47.88M | 15.58M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 321604 | $3.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.07 | 269930 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 216310 | 3.060 |
24 | 433847 | 3.050 |
17 | 226159 | 3.040 |
15 | 134654 | 3.030 |
22 | 95397 | 3.020 |
Price($) | Vol. | No. |
---|---|---|
3.070 | 212557 | 10 |
3.080 | 99820 | 7 |
3.090 | 95019 | 5 |
3.100 | 172136 | 20 |
3.110 | 260299 | 11 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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