Having broken thru the .80 zone of support, the downtrend continues with a strong bearish candle for the week (ending tomorrow 07/09). The next level of support is at .67 (the .618 fib level) before it continues to .60 (historical resistance when the script was moving up) . If the stock markets move down due to world events, I cannot discount the price reaching .51 or lower. Currently there is no buy signal and I do not own any PLS stock, nor is this investment advice. These are my thoughts as a potentially future interested investor in PLS.
Comment:
The daily chart shows that the 50 DMA and the 200 DMA crossed on 6th August 2018. Never a good sign. The price is currently retracing updwards. A few resistance zones along that direction are .865c (50 DMA), .90c is the 50% fib of the last move down, the 50 Weekly MA and .89c to .90c has a confluence of fibs ( I expect strong resistance at this zone), 915c is the 200 DMA and .955 to .965 is another confluence of fib levels. Of course $1.03 will be the toughest frontier on the move up.
Comment:
The downtrend continues and .60c remains the level for a reassessment
Trade active:
A test of the .786% FIB level ($0.51c) is a real possibility
Trade closed: target reached