PLD is a bullish/strong fundamental stock therefore would be traded only in a long position
PLD after a very strong move up it is consolidating on lower volume which is a good sign for a bullish move. Friday's price gap was down below 20 days MA, the price continue to drop but the day finished strong. It formed a bullish reversal pattern hammer just above 20 days MA while found support at the last resistance and 126$ where is a blue dotted line, which is bullish. This is a textbook example where prices consolidate after so a huge rise and at the end of consolidating period formed some kind of reversal candlestick pattern to give or provide more probability for turning.
Volume is confirming price action and is very good for bulls that the last hike was not made on the biggest volume.
It is above all major MA which is bullish.
RSI did cool down and is now in neutral territory which could be bullish if the price starts to move up.
MACD though is more bearish as MACD lien cross below the signal line.
Overall: After such a strong ride it is good for the price to cool down like in this case. Would be the best option to get a Doji today or something like that or better say new bullish reversal candle stick pattern and then for the price to start moving up strong on strong volume? For bull pull back we never want a big volume on consolidating.
The entry point would be 1/8 above the high of Friday with a stop loss 1/4 below the lows of Friday. With that, you can easily calculate the number of shares you will buy so you don't cross over your risk for a specific trade.
PLD after a very strong move up it is consolidating on lower volume which is a good sign for a bullish move. Friday's price gap was down below 20 days MA, the price continue to drop but the day finished strong. It formed a bullish reversal pattern hammer just above 20 days MA while found support at the last resistance and 126$ where is a blue dotted line, which is bullish. This is a textbook example where prices consolidate after so a huge rise and at the end of consolidating period formed some kind of reversal candlestick pattern to give or provide more probability for turning.
Volume is confirming price action and is very good for bulls that the last hike was not made on the biggest volume.
It is above all major MA which is bullish.
RSI did cool down and is now in neutral territory which could be bullish if the price starts to move up.
MACD though is more bearish as MACD lien cross below the signal line.
Overall: After such a strong ride it is good for the price to cool down like in this case. Would be the best option to get a Doji today or something like that or better say new bullish reversal candle stick pattern and then for the price to start moving up strong on strong volume? For bull pull back we never want a big volume on consolidating.
The entry point would be 1/8 above the high of Friday with a stop loss 1/4 below the lows of Friday. With that, you can easily calculate the number of shares you will buy so you don't cross over your risk for a specific trade.
Consistency is the key of success....