PKG
Packaging its bags and going south.
Since peaking in price in May 2021, PKG entered a parallel channel range between 129 – 155.
April 2022, price broke out from range with what looked like to be the continuation of its uptrend.
Unfortunately, the breakout was short lived, and price fell back into range. The breakout is deemed a “false breakout”.
Price fell back into range and has pulled back to top of resistance. This is my que to enter swing trade short.
Entry: 153.34
Stoploss: 160.47
Target: 129.80, 15.4%, 3.35 RR ratio
Packaging its bags and going south.
Since peaking in price in May 2021, PKG entered a parallel channel range between 129 – 155.
April 2022, price broke out from range with what looked like to be the continuation of its uptrend.
Unfortunately, the breakout was short lived, and price fell back into range. The breakout is deemed a “false breakout”.
Price fell back into range and has pulled back to top of resistance. This is my que to enter swing trade short.
Entry: 153.34
Stoploss: 160.47
Target: 129.80, 15.4%, 3.35 RR ratio
Trade active
Trade is still activeTrade closed: target reached
Target: 129.80, 15.4%, 3.35 RR ratio
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.