PLS @ 30 August 2021PLS
- First time doing a written analysis on PLS
- Stock has some history of uptrend but aren’t long enough (ie. less than 3 months) to my liking
- Price retracement in mid-August is quite a big drop (ie. About 20%) but mostly due to the strong price increases before that
- Price respects the short-term average -> very good
- Price recently formed a Lower High (LH) but it’s understandable due to the big drop in the subsequent retracement wave
- Today’s price action looks to be a nice rebound and might present buying opportunities for some traders
- Stock hasn’t broken through counter-trendline
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest to use breakout strategies once stock successfully breakout of counter-trendline with strong volume
