PPK 1.43% 34.5¢ ppk group limited

PPK is a stock I haven’t looked at before but price has a very...

  1. 306 Posts.
    lightbulb Created with Sketch. 215
    PPK is a stock I haven’t looked at before but price has a very clear Elliott Wave count (something I always like) and seems to have recently started rising on Wave 3 – the longest and strongest rising wave in a price cycle. There is a strong level of resistance at $4.85 and a break and close above that level suggests a short- term target of $6.07 and potentially a higher target of $6.70. The higher target has the stronger pattern so that is my guess where price will head in the short to medium term. Incidentally, price movements last week suggested that the $4.85 resistance was an even earlier target, albeit now not sufficiently far enough above current price for it to pass the risk/reward test, Price is in an uptrend, above a valid weekly uptrend and making higher troughs and peaks on the weekly chart. In summary, PPK has a very strong chart and for me an aggressive buy at the current price (based on an expectation of price moving above $4.85) but it would not be unexpected for price to fall back after achieving $4.85. Anyone buying now would need to watch price closely around that target level and have a solid stop loss policy. The more conservative approach would be to wait for price to move above $4.85 but that could see less potential profit in the trade and given the 8.5% move up last Friday (17% for the week), there is always the risk of 'missing the bus' if there is a continued strong move up. That said I've bought a few this morning.
    https://hotcopper.com.au/data/attachments/2571/2571344-3c0452fcb28d55658f31fc0aca099a22.jpg
 
watchlist Created with Sketch. Add PPK (ASX) to my watchlist
(20min delay)
Last
34.5¢
Change
-0.005(1.43%)
Mkt cap ! $30.64M
Open High Low Value Volume
35.0¢ 35.0¢ 34.5¢ $25.20K 72.59K

Buyers (Bids)

No. Vol. Price($)
3 11337 35.0¢
 

Sellers (Offers)

Price($) Vol. No.
34.0¢ 31376 1
View Market Depth
Last trade - 11.02am 14/06/2024 (20 minute delay) ?
Last
34.5¢
  Change
-0.005 ( 0.63 %)
Open High Low Volume
34.5¢ 34.5¢ 34.5¢ 642
Last updated 11.02am 14/06/2024 ?
PPK (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.