Stock Of The Day / 12.20.24 / PSNL
12.20.2024 / 
PSNL
Fundamentals. The second day of growth on the back of $50 million investment from Merck received.
Technical analysis.
Daily chart: Strong squeeze on a range movement. Strong daily level 7.20, formed by a two-year high is ahead.
Premarket: Gap Up on moderate volume. We mark the level 6.50 - the high of the post-trading session of the previous day.
Trading session: The price stopped and began to tighten to the level 6.50 after an impulse growth at the opening. Note how the price began to pullback from the level of 6.50, trapping short traders, whose stops will provide us with an impulse movement upon breakout. We are considering a long trade to continue the movement.
Trading scenario: #breakout (#tightening) of the level 6.50
Entry: 6.59 aggressive entry upon breakout of the level.
Stop: 6.48 we hide it behind the level with a reserve for slippage.
Exit: We close the position before the level of 7.20 taking into account that the price has moved 5 ATR (Average True Range).
Risk Reward: 1/5
PSNL Fundamentals. The second day of growth on the back of $50 million investment from Merck received.
Technical analysis.
Daily chart: Strong squeeze on a range movement. Strong daily level 7.20, formed by a two-year high is ahead.
Premarket: Gap Up on moderate volume. We mark the level 6.50 - the high of the post-trading session of the previous day.
Trading session: The price stopped and began to tighten to the level 6.50 after an impulse growth at the opening. Note how the price began to pullback from the level of 6.50, trapping short traders, whose stops will provide us with an impulse movement upon breakout. We are considering a long trade to continue the movement.
Trading scenario: #breakout (#tightening) of the level 6.50
Entry: 6.59 aggressive entry upon breakout of the level.
Stop: 6.48 we hide it behind the level with a reserve for slippage.
Exit: We close the position before the level of 7.20 taking into account that the price has moved 5 ATR (Average True Range).
Risk Reward: 1/5
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