PCBL consolidation breakout
Hi,
PCBL has consolidated for almost 1.5 years now in a range after a nice 4 bagger upmove since covid lows in 2020.
First target is calculated considering height of the box which comes to 200 levels.
2nd and 3rd target as per Fibonacci extension comes to 308 and 414 levels.
Stop loss below 110 levels.
The moving averages( trend lines on daily and weekly are nicely aligned indicating a strong move ahead )
The volume is also rising with rise in stock price.
On daily , weekly and monthly ADX is above 20 indicating that stock is ready to give a strong move.
Relative strength is also indicating stock is in strong hands and nice accumulation is done :)
Happy trading!
PCBL has consolidated for almost 1.5 years now in a range after a nice 4 bagger upmove since covid lows in 2020.
First target is calculated considering height of the box which comes to 200 levels.
2nd and 3rd target as per Fibonacci extension comes to 308 and 414 levels.
Stop loss below 110 levels.
The moving averages( trend lines on daily and weekly are nicely aligned indicating a strong move ahead )
The volume is also rising with rise in stock price.
On daily , weekly and monthly ADX is above 20 indicating that stock is ready to give a strong move.
Relative strength is also indicating stock is in strong hands and nice accumulation is done :)
Happy trading!
Trade active
Hi,PCBL has formed a nice round bullish saucer pattern since I shared this idea. The script has also respected the box and stop loss levels and is showing signs of breakout. Not every time one gets a second chance , its good time to learn the price action that will be following once the script crosses 140 levels.
If you like this analysis and you think it will be useful to learn for others , then do follow me on Tradingview and show like the idea :)
Note: As we have strict guidelines, the shared idea is just for learning on how to read & analyse charts and not recommendations of any sorts. Take it with pinch of salt :)
Enjoy & Happy Trading !
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.