Potential Reversal in Progress - PGEL
Updated
- Technical Analysis:
- Price fell more than 40% from the top and found support in the lower zone.
- Formed a bullish marubozu candlestick pattern, indicating strong bullish momentum.
- Currently approaching immediate resistance and trendline with high volume.
- RSI showing positive momentum, supporting the bullish view.
Trade Strategy:
- Entry: Consider buying on a breakout above the immediate resistance and trendline.
- Stop Loss: Below the recent support level.
- Target: Previous highs or higher based on momentum.
- Price fell more than 40% from the top and found support in the lower zone.
- Formed a bullish marubozu candlestick pattern, indicating strong bullish momentum.
- Currently approaching immediate resistance and trendline with high volume.
- RSI showing positive momentum, supporting the bullish view.
Trade Strategy:
- Entry: Consider buying on a breakout above the immediate resistance and trendline.
- Stop Loss: Below the recent support level.
- Target: Previous highs or higher based on momentum.
Trade active
10% done
Join our community in telegram for real time updates --- telegram.me/marketiik
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.