LoveForCharts

PRN - Bullish Setup, wait for break

Long
NASDAQ:PRN   Invesco DWA Industrials Momentum ETF
PRN bullish on charts on multi time frame .

Points to consider

1. Price above 20 D SMA
2. Price above 20 Week SMA
3. Price above 5 Month MA
4. RSI Bullish on Monthly and Weekly MA
5. RSI looking for support on the Daily TF to reverse up.
6. Nice consolidation on Monthly charts
7. Price trading in a nice range for the last 8 months and setting up bullish structure with Monthly RSI not overbought

Price near All time highs and crucial RSI zones on daily charts , bullish structure.

Look to buy dips in the daily channel for a swing with good RR and look for channel break
Comment: Lovely Breakout today, PRN went as high as 122, that's nearly 20pc gains from the time we identified this opportunity, less than a month.

Watching the charts closely for potential exit opportunities, hope you have liked the idea

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