While on an ultimate down trend it would seem, PLCE has such beautiful waves... A reversal is in play, though I believe its highs will continue to stay lower, drawing out lower lows as it returns to "normative range" - I.E. Lower Comforts. A good range for topping out with profit would be anywhere from $78 - $81. So far this year, looking back at similar plays and potentials, a month is a cushion-y range to shoot for another crest. P.S Awaiting confirmation of SuperTrend (3 10)...
Comment:
As of 12/4/19, SuperTrend (3 10) has still not confirmed... Price returned to lower support, and infact sauntered just below, before getting back above. It will be interesting to see the effects the overall market will have on PXD, but I think it will continue at least one more roil close to top out zone before deviating... We'll see.
Comment:
Oops! Make that ^ PLCE, not PXD. LOL
Comment:
No bounce, sticky consolidation, and a heavy handed sentiment at earnings bore down on these waves like a tornado... It happens.