Technical analysis -
1. Stock is in overall uptrend and making a series of higher high & higher lows
2. It broke the previous swing this time but not recovering well by making a rounding bottom pattern which indicates accumulation after shakeout happened to remove weaker hands
Trade set up -
1. Go long above rounding bottom neckline, which is 56.60 on closing...
Potential move to the upside . All depending on Gold prices so a bit risky . Gold has price has been declining as you can see by the daily . Trend lines channel was taken from weekly . Divergence on long stochastic 25 . If worldly affairs go pear shaped , we could see a move to secure havens....Minus Warren Buffet ; 0
ASX:PYC
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Very powerful rounding bottom formation, manage the multiyear high and closed above that.
Manage to close above the Jan 2010 high, close to 127 months.
Given the massive run close to 3X in last one year.
Downside -...
GMV has been in a sustained downtrend but todays breakout might be the start of a new uptrend.
Target T1 - 0.405
Target T2 - 0.485
Target T3 - 0.585
Stop Loss - 0.270
