PUR - Charts, page-362

Had some time to analyse the Weekly Chart, nice bullish end to the week at 7.1c and still low volume trading with selling pressure falling away hence the slow moving up as buyers realise they need to pay up if they want any substantial amount of shares.

Weekly Chart I've used the Line instead of candles as it blocks out the noise and shows the close price only; so thankfully here we don't have that 4c stupidity sell causing mayhem on the chart.

Symmetrical Triangle is formed on the Weekly, a bullish pattern that's also known as a Coil, and when springs coil, they explode and release all that built up energy. PUR have a very promising drilling campaign starting now, so this plays hand in hand with what's happening in the Chart and 7c is the base for this Symmetrical Triangle Coil to spring out from.

Two price point targets are 10.8c and 13c which lines up with my Weekly chart from a few weeks ago with PUR being in the middle of Wave 5 with a target of around 12c; so here we have 10.8c to 13c with the two points.

MACD is still bearish on the weekly, where as the MACD Daily is bullish and about to cross and turn up as I noted this morning on my Chart. The weekly is a lagging timeframe compared to the daily but it can also give a better indication of what's going on overall and where things are headed, which in this case we get the Symmetrical Triangle and short term targets of 10.8c-13c.

Once the MACD on the weekly turns it should look like when PUR started from the 1.5c/2c level and go for a nice climb, but it will require PUR fundamentals backing this up with some good drill results and with overall region pushing up.

CHN news today helps a lot to keep the sector sentiment bullish and interest here, times well with PURs work to come and with other neighbours as well.

Have a great weekend everyone, look forward to next week.