What can't go up must come down.
You don't have to be very smart.
You just have to avoid being stupid.
"It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent." - Charlie Munger
PWLR has gone parabolic since last month. It shot up strongly to 4.52 last Friday before suffering a steep pullback to 4.15 today.
The uptrend is still intact and it is an opportunity to accumulate between 4.15 to 4.18 with initial stop loss @ 4.05 (just below the recent low @ 4.07). Looking to scale out along fibonacci extension levels 1.272-2.272 of the BC...
Parkway Life Reit has been consolidating within a wedge pattern for the past 2 months. It is getting close to the apex of this wedge and RSI is now trending above 50. Am expecting a breakup to happen in a matter of 1-2 weeks.
I am accumulating within the narrow end of this wedge (3.35-3.4+) to wait (patiently) for the break.
Disclaimer: This is just my own...
A morning star candlestick formation is bullish and couple with bullish divergence of price with the stochastics. Am expect a rebound to materialise soon. Long @ 3.45 with a stop just below the morning star low (3.35). Looking to take profits with trailing stops should the trade pane out. Let's see.
One year/52 weeks consolidation pattern in Parkwaylife reit.
If above $2.80 will complete this pattern.
Remember a week close above $2.80 will be stronger signal.
