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.
PPK Charting
-
- There are more pages in this discussion • 864 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PPK (ASX) to my watchlist
(20min delay)
|
|||||
Last
34.0¢ |
Change
-0.010(2.86%) |
Mkt cap ! $30.20M |
Open | High | Low | Value | Volume |
35.0¢ | 35.5¢ | 32.5¢ | $129.6K | 383.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | 33.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
34.5¢ | 8571 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | 0.330 |
1 | 50000 | 0.325 |
1 | 40000 | 0.320 |
3 | 9941 | 0.310 |
1 | 32790 | 0.305 |
Price($) | Vol. | No. |
---|---|---|
0.345 | 8571 | 1 |
0.350 | 23800 | 2 |
0.355 | 100000 | 1 |
0.365 | 29411 | 1 |
0.370 | 2459 | 1 |
Last trade - 16.10pm 29/05/2024 (20 minute delay) ? |
|
|||||
Last
33.5¢ |
  |
Change
-0.010 ( 5.63 %) |
|||
Open | High | Low | Volume | ||
35.5¢ | 35.5¢ | 32.8¢ | 80636 | ||
Last updated 15.59pm 29/05/2024 ? |
Featured News
PPK (ASX) Chart |