sothye

PRLEXUS-WA (8/11/2020) runs steady

Long
PRLEXUS-WA completed Wave 2 @ 0.640 in 2-Nov-2020, and since then has riding the uptrend channel for about +48.41% in just a week. Nearest support is 0.83, whilst nearest resistance is around 0.985. Good entry would be psychological resistance @ 1.0 with 0.985, and 0.83 as support.

However, if the price breakout the symmetrical triangle with volume , we could entry earlier with TP around 1.09, and Support @ 0.93.

As long as the uptrend channel is respected, the Wave 3 could end up as high as 2.280 (using Fib Extension 1.618)

We are still waiting for volume to come for this stock for it make a bolder movement. Banker chip is already full, means its just waiting for the right moment.

Its mothershare ( MYX:PRLEXUS ) has a relatively small balance float (54% of 182M shares), relatively compared to MYX:POHKONG (22% of 410M shares). This would result to a lighter price action for the stock. Good sentimen and news would exponentially accelerate it.

TAYOR guys !

Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
Comment: Due to issues around Pfizer vaccine success, the whole glove sentiment went down. As a result, the stock has breached the uptrend channel, and currently mingling around support zone 0.83

Comments