Buyers have stepped in at support zone 0.79 - 0.80 with volume showing a bullish divergence on the RSI chart. The bounce was followed by a bull pennant with another break above 0.875 level. Looking very bullish atm with RSI holding above 60 and FA still looking strong relative to peers.
Fundamental analysis: PLS.AX continues to secure landmark deals with top tier companies with the most recent: Binding Subscription Agreement executed with POSCO and its wholly-owned subsidiary, POSCO Australia Limited (POSCO, market cap: $28t) , for an immediate upfront A$79.6M equity investment at A$0.97/share in Pilbara Minerals, with the proceeds to...
We have H&S failure on 4H chart, Bearish Engulfing failure on W chart.
We are a bit worry on the rising triangle pattern on D chart. Although the base of the triangle aligned on a critical resistance level, it has only one reversal. Theoretically, the breakout doesn't work.
Then, what if this pattern failed? The answer will be a downward breakout instead.
So far we could see modest pullback with decreasing volume. There are clear supports level incl. gap, Lets try to scale in with long term core position targeting .85 (and above) & short term position targeting .60.
Possible breakout from 4 month rectangle. Daily/weekly close above S/R zone, above fib, price above SMAs. possible impulsive move as in Apr/May.
Developing fundamentals - emerging lithium mine in Australia. PLS-ASX
