Support can be found along the 21ema as displayed on 2/24 and 3/6.
As PNRA consolidates along the 21ema and tightens up below that descending , it's giving us both a better reward to risk...
I'd use 226.39 as support here. With 232.88 as my entry, the distance between entry and stop loss is only 2.79%! That can allow us to take on a much larger position while risking little!
What I like about the chart:
Take a look at the on 2/28 right after PNRA reported . was the highest it has been in well over a year! But by itself isn't what we look at. We look at what price does WITH that ...
On 2/28 PNRA broke above stubborn resistance that it's had for over 6 months and moved to fresh all-time highs!
Since 2/28, PNRA has consolidated in a tight range and on low . This tells us that no one is eager to give up shares... PNRA is biding time and is waiting to make its next move which based on the price action, looks to be higher.