Potential outside week and bullish potential for PRN

5月11日

Entry conditions:
(i) higher share price for PRN above the level of the potential outside week noted on 2nd May (i.e.: above the level of $1.38).

Stop loss for the trade would be:
(i) below the low of the outside week on 28th April (i.e.: below $1.29), should the trade activate.

5月11日

交易進行

UPDATE (week ending 09-May): Trade activated 6th May with the share price respecting the 10 day MA throughout the trading week to close above the 10 and 30 day MA's at the end of the trading week.

5月17日

註釋

UPDATE (week ending 16-May): Share price action this week was rather disappointing, with the share price ending up closing back between the 10 and 30 day MA's at the end of the trading week.

5月24日

註釋

UPDATE (week ending 23-May): After a disappointing week of share price action last week, there was nothing but green candles this trading week, with the share price ending up the week testing a prior resistance level of $1.56 from 10th June 2020. Observe how the market reacts to this price point next week, with the expectation that some tests of support around the $1.54 level may be interesting and could be a worthwhile exit if this fails.

5月31日

註釋

UPDATE (week ending 30-May): Consolidation of price action occurred this week for PRN, with the share price closing above both 10 and 30 day MA's at the end of the trading week. Following on from last week's note, consideration of the long-term support/resistance line (10th June 2020) at $1.56 supports the notion of raising the profitable stop to under the recent swing low of 28th May (i.e.: just under $1.535).

6月7日

註釋

UPDATE (week ending 06-Jun): Share price action for PRN broke out of the consolidation noted over the past week, before it met with another prior resistance level of $1.67 from the open of 31st December 2019. This lead to a retracement back to the previously mentioned $1.56 level, which will now act as support (unless proven otherwise). The charts firmly suggest raising the profitable stop to under the recent swing low of 28th May (i.e.: just under $1.535), as mentioned in last week's note.

6月15日

註釋

UPDATE (week ending 13-Jun): Share price action for PRN remained constrained within between the support and resistance levels noted last week, with a successful test of the support level noted. The share price closed between the 10 and 30 day MA's at the end of the trading week (towards the upper end of the range).

6月21日

註釋

UPDATE (week ending 20-Jun): Similar share price action was noted to last week - no action required at this stage, as per note made a couple of weeks ago.

6月28日

註釋

UPDATE (week ending 27-Jun): Similar share price action was noted to last week - no action required at this stage, as per note made a few weeks ago. Let's give this stock one more week and then either (i) cut it for a profit if consolidation continues at the end of next week, or (ii) enact a profitable stop under the recent swing low of 28th May (i.e.: just under $1.535).

3 天前

手動結束交易

UPDATE (week ending 04-Jul): Charts suggest to close position following last week's comment, especially since an attempted breakout on 1st July couldn't maintain itself and hit it's head on the long-term prior resistance from 31st December 2019 (i.e.: $1.67). Nice profit from entry point from 6th May - congratulations!