PAM setting up on daily/weekly time frames

158 0 1
It's always optimal when whatever it is that we're interested in trading to be setting up on multiple time frames. Here, PAM is setting in in a 4wks tight pattern on the weekly chart, and in an ascending triangle on the daily chart .

A quick look at the volume bars shows us that PAM is presently being accumulated. This is further confirmed when we dig deeper and see that fund ownership has been steadily increasing over the past several months.

The RS             line is hitting new highs ahead of price on both the daily and the weekly charts. Another positive across time frames.

On the weekly chart, we see both the 10wk line as well as the 40wk line beginning to curve higher. This is an indication of the uptrend accelerating.

Finally, the daily chart gives us some pretty clear levels to play against. There is resistance right around 32.65 and that's where I have my pivot point . I'm seeing 31.31 as the nearest support level with the 21ema close behind. For ascending triangles, the target is approximately the depth of the base. With that being approximately 2.50, that brings us to a target of roughly $35. If the target is hit, I'd look to lock in some profits while letting the rest run.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out