PNBHousing is in downtrend from 2017 and has been facing a weekly resistance near the trendline. It had given a breakout few weeks back but didn't sustain.
However, stock has bounced back from 0.5 Fib levels and gave a weekly closing above the trendline as well as the 200 EMA(weekly) which is a bullish closing.
630 is an immediate resistance above which it can test the 675-750 levels in short to medium term. So, you can keep the stock in watchlist.
Sharing this idea only for educational purposes and its my personal opinion.
However, stock has bounced back from 0.5 Fib levels and gave a weekly closing above the trendline as well as the 200 EMA(weekly) which is a bullish closing.
630 is an immediate resistance above which it can test the 675-750 levels in short to medium term. So, you can keep the stock in watchlist.
Sharing this idea only for educational purposes and its my personal opinion.
Trade active:
Today seems like a breakout. Keep on watchlist.
Comment:
Breakout above 612 will invite aa quick, big move.
Comment:
T1 almost achieved. 628.5 is today's high.
Trail SL if entered .
Trail SL if entered .
Trade closed: target reached:
649 reached! Swing trading target done for 10%.
Uptrend is now confirmed and positional traders can hold for bigger targets and can add on dips
Uptrend is now confirmed and positional traders can hold for bigger targets and can add on dips
