PNV 1.30% $2.33 polynovo limited

SureBut I can't zoom out too much or you can't...

  1. 6,525 Posts.
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    Sure
    But I can't zoom out too much or you can't actually see anything legible
    Haha

    We are trying to move from the bottom blue line to the top blue line
    Purple, green & blue are bullish channels (larger time frames)
    Orange & red are bearish channels

    We got through the red line so now I wait for the orange line to breach (obviously red lines appear every week)
    Purple line is holding (we tagged the top of that channel for a minute the other day but we've manage to stay within)

    We did fail to move into the upper green channel
    Orange line is our current resistance
    But once we succeed, we have to hold the new channels to keep going

    Obviously there are more technical ways to explain things & I have other indicators dictating what I should do & when, but these just keep me in check as the market moves

    As long as the higher channels keep holding, we remain in an uptrend
    Once we reach the first blue line, I then look above & see if we have the room to keep going, using that line as support or do we just dump back to the lower blue line again

    The $3.36 people want is in the above blue line channel or we have to wait a very long time to reach it (that above channel goes up above $4 though)
    So we have a lot of work still to do if we want that any time soon
    https://hotcopper.com.au/data/attachments/6349/6349578-4963e8e7ec7fc6d29e6be314c8b61666.jpg
 
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