MACD is moving towards the zero line but it is still trading beneath the zero line.
DMI reading suggests that the recent trend is still gathering momentum.
10-day moving average is still under the 50-day moving average suggesting downtrend in the intermediate term. Uptrend in the long term is still intact as both moving-averages are trading above the 200-day moving average.
Weekly trend is up.
1-Year Daily Chart
After a year-long down trend, PX finally broke out of it last September 2 with relatively high volume. Breakout points to 14.63 as target, 4.5% away from its recent close at 14 and closing above its 200-day moving average at 13.
It now closed at 14 which is its next psychological resistance after breaking 13. A 1-3% break from it should warrant a buy signal. Breaking out would seem imminent as ROC is still pointing to further advance in the near term.
Major resistance at 16 and 20.
***The stock did reached 13 as I have anticipated before. However, I was expecting it to make a correction before heading back up but in the contrary, it simply consolidated before it started to head back up which I did not look into.
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