Think you've got a pretty good handle on it Ed with what you've posted.
Don't think I can add much. Just a couple of small things maybe.
The SP has recently nicely retraced down to the pivotal 62 Fib which is to be expected once it began retracing. (they either trade sideways in a tight range or come back to the 62Fib). That green candle on Thursday where it crossed over the 8ema on stronger volume was an entry signal and cool to see it close right on the bollie median.
Having said that, yesterdays candle and performance was shite. Very strong volume and a very strong sell off indicating that sellers were happy to close out.
Perhaps yesterday's price action is better displayed by these two lower time frame charts. This uses just a simple 8/20 ema combination and you can see the roll over. Traders would have certainly closed out on that.
Hey Ed, strongly recommend that you add an 8ema to your chart. See in the daily chart I posted how the SP respected it all the way up the spike and most importantly on the retrace as well. It's proving to be a vital indicator of momentum in this current market. (don't tell anyone
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Hopefully Fridays candle was just a fake out and if so 10cents (upper bollie) would be my first target.
Like many Bio's PYC does have a very high SOI therefore the stock will trade a little differently as it has a lose register. It does effect the turn around from downtrend to uptrend. Just requires a little more confirmation.
Hope this helps, well done to holders who have enjoyed the recent spike but it's also a great lesson in taking profits off the table at appropriate times.
Cheers.
(20min delay)