Title:
PKNORLEN: Momentum Over, Downfall Ahead
Analysis:
Hello Traders,
PKNORLEN has experienced a shift in momentum, signaling a potential downturn ahead.
$WSE:PKN
Volume and Momentum Analysis:
Recent volume patterns suggest a decrease in market activity and weakening confidence in PKNORLEN 's price movement. This decline in volume aligns with...
A triple bottom suggests a change in direction higher and possibly the start of a new uptrend. To put it in buyers/sellers terms, the sellers have created a downtrend that came to a low point (support), which led to a rebound or short-covering.
Entry point: Consider entering a long position at first green candle if the formation is not broken. Recommended entry...
If it bounces back, it will be long. Personally, I add to the open position. My first exit is at level 71, then 91 and 113. I bought the asset from PLN 54. I don't use any leverage on this shaft. I will be grateful for all opinions
Thank you
PKN Orlen reached important suport at 62 PLN level. If it will hold propably we will see tirth Elliotts wave with TP 83 PLN. In friday company relased information about starting a new buissness in China.
