Seeing the same pattern playing out with PPC as with RDF and SOL. Bottom and then a 5 Wave rising channel. PPC also got good volumes on the Weekly timeframe.
* Not Financial Advice.
PPC broke out nicely above the 5 day MA with RSI now above 30 level and ATR at low point. Nice gap to fill upwards to 50 day MA (118 price level). Breaking 118 levels, we can see previous resistance being retested at 180 levels. Entry 83, stop 63 with full target 176. Reward to Risk ratio 4.5.
Disclaimer: My analysis should not be construed as financial...
PPC has been forming a base since the middle of 2016 after a down trend. The downward stride has been broken. We see low volume on the down moves and increased volumes on the up moves (Signs of Strength). After a spring we see price finding support at the yearly pivot point. After a doji formed on increased volume, a bullish reaction and divergence with the...
I know that the SA Construction Industry is probably the most hated sector however, yesterday we saw PPC bounce off the horizontal support level. Currently monitoring for the share to stabilize for a buy/long.
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PPC continues to trade below the downward trend line in place following the break below the upward trend and double top formation that developed during the month of May. While the trend is lower, the RSI technical indicator points to early signs of a potential reversal with bullish divergence currently being seen. Monitoring.
