PH2There is no indication of rising volume. RSI is flat . MACD is crossing to the downside. Probably, it will go for consolidation until volume appears.
Other scenario, might be pullback after breakout through the trend line. Perhaps, Waiting for some kind of bullish candlestick with a volume to go long.
otherwise, could be the bull trap.
*not a trading tips. Wave count might be wrong.
PH2 trade ideas
Will this Hydrogen stock suffer the same fate as the Hindenburg?Increasing volume from October to November saw the price inflate to almost 400% of the $0.15 August support test.
Unlike the Hindenburg, it did'nt explode at the top and plummet back down to the ground, but once the price popped, it has been steadily deflating and drifting back down toward $0.20.
We have seen a rally this past week but unless we see volume, I think we will return to ground for another test of support around $0.15.
If this stock really is refuelling for another pump, take some profit around $0.50 but I feel this is the least likely of the two scenarios as after answering questions from the ASX relating to a recent YouTube presentation, there isn't any exiciting news.
ASX: PH2 or ‘Pure Hydrogen is the next Woodside by 2024Pure Hydrogen is planning to develop hydrogen refuelling hubs on the East Coast of Australia in order to
supply local customers with Hydrogen fuel at the required pressure of 35 or 70 MPa. These sites will be
used to refuel motor vehicles (especially trucks) powered by Hydrogen gas. H2H’s refuelling stations are
expected to be supplied to Pure Hydrogen when the first refuelling station is planned to commence
operation, at this stage within ~18 months.
PH2 has been on a run, all signs lead to continuation PH2 has been on a run recently. All timeframes align and point to continuation of bullish trend. Looking for an entry below the 0.300. Recent deal will see them create new hydrogen hubs in victoria in a multibillion dollar future market. Markets are pretty choppy at minute so tread with care. For educational purposes only. Do you own research