PNV - Chart, page-19572

Market conditions have remained stable again since the 4th September
Unfortunately my tradingview isn't working this morning so I can't post charts (some of you might be relieved. Hahaha)

Vix has stopped climbing for a few days now but lots of profit taking still preventing markets from pushing higher

I have 2.55 where PNV should be trading based on US market conditions
Obviously nowhere near that atm
Xjo trading much higher than the US (good to see the asx finally stop trading on the floor for a change)
Based on asx conditions PNV should be trading above 2.60 & sell down with the market to 2.24 which is the approx floor on Oct 31st (if that's what the market plans to do)

Every time the xjo jumps one of my fences, it prevents a downtrend from forming & means long positions can still be held
If the xjo can close above 7970, it has now jumped 2 fences since that flush

My only assumption right now is there are too many day traders on PNV & chart bosses took away their chance to profit over the next 2 months
It's the profit takers that are to blame here, not the bears

Until PNV gets above 2.37, no chance this goes anywhere & more traders will begin to pile on the shorts again or panic sell

Either way we'll be trading above $3 before the end of the year
I just don't know when
The more important question is how long before the $4 arrives