Time for an "Objective" Follow-up Post - Strength...

Time for an "Objective" Follow-up Post - Strength Intact

8-June-2024 : Keeping It Simple with Technical Analysis and Price Action

Been a few months, and I thought it's a good time for a follow-up post.
Good news is, that the strength in the price remains intact as can be seen from the charts.

Here I analyze the long term trend of PNV objectively using a 3 box reversal P & F charts with a high box value of 0.05. Now that's a pretty high box value to eliminate all noise.

* The best thing first - The price is in a column of "X", and... it has given a Double Top Buy.. That is.. has broken the last column of "X".
* I have marked call outs with comments and Orange zones for resistance and Green for Support for anyone to see how the price is behaving.
* The long term down trend that started around Jan'2021, halted in May'22 and the price since then HAS NOT breached that last lowest low.
* Since May'22, I have marked 2 beautiful copy-book BEAR TRAP patterns. All this shows, that the strength in the price remains, and price has a potential high probability of making new highs.
* I have drawn in RED, what I see as a latest "Cup & Handle" pattern forming on the P&F. Once it breaks above that immediate ORANGE neckline above at 2.68, it will confirm the completion of this bullish pattern.
* The next immediate resistance above at 3.18 also is not very far away... so expecting some consolidation if and when it goes beyond 2.68... but if the strength in the price remains the same, then don't see any issues breaching that as well.



Please note I own this stock and my analysis may be biased and even incorrect. So DYOR, and do not trade without a stop/loss. Good luck..