PAHC: One's Meat Or Poison ?
Updated
PAHC has been consolidating some of its gains since its near term low formed in Apr 2017.
Prices appears to be forming a 3 wave A-B-C correction which might have already been completed or sub-divide a bit down further before resuming its uptrend.
Average turnover has been decreasing steadily since Minuette Wave (iv) started.
Prices have found support around the 50% fibonacci retracement.
If Wave (iv) is not completed, it should do so very soon without retracing downwards much further.
If prices makes it way down further towards 38.2% fib retracement and finding support, I am not ruling out the prospect of sub-minuette ii forming instead.
However a strong break down of 38.2% fib retracement will bring more bearish implications, which I will then review and discuss.
Till then, the bias is still to the upside.
Prices appears to be forming a 3 wave A-B-C correction which might have already been completed or sub-divide a bit down further before resuming its uptrend.
Average turnover has been decreasing steadily since Minuette Wave (iv) started.
Prices have found support around the 50% fibonacci retracement.
If Wave (iv) is not completed, it should do so very soon without retracing downwards much further.
If prices makes it way down further towards 38.2% fib retracement and finding support, I am not ruling out the prospect of sub-minuette ii forming instead.
However a strong break down of 38.2% fib retracement will bring more bearish implications, which I will then review and discuss.
Till then, the bias is still to the upside.
Note
(Possible Entry Points)Note
Prices has reached its correcting upper channel line.Volume is lacking somewhat.
We must see stronger average volume for a successful break up.
A break down towards Key Support could imply a more complex consolidation underway.
Note
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