PCBL Bang On- Combining Rounding Bottom with Ichimoku Cloud!
Aug 14, 2024
Basic price patterns and price indicators work in unison, leading to interesting results! Our recent analysis on PCBL, affirms this theory and makes one trade more confidently and with certainty! See below our prediction on PCBL, a momentum stock that has rallied by more than 30% in just 5 trading sessions.
We published PCBL in "The Financial Waves Short Term Update" on 31st July 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
PCBL Daily chart Anticipated as on 31st July 2024.
PCBL Hourly chart Anticipated as on 31st July 2024.
PCBL has been moving higher recently and intact in strong uptrend. In the previous session it closed with a massive gain of 10.76%.
On the daily chart, in the previous session prices formed a bullish candle. A daily close above 344 level will confirm breakout of the rounding bottom pattern. Currently, price is trading above the ichimoku cloud which indicates that the short-term bias is likely to remain bullish.
As shown on the hourly chart, we have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal. Closest support is placed at 313.
In short, trend for this stock is positive. Use dips towards 325-328 as a buying opportunity for a move towards 360-365 levels as long as 313 holds on the downside
PCBL Daily Happened Chart as on 14th August 2024.
Happened – The stock has moved as we anticipated. After breakout, the stock has achieved our target in just 3 trading sessions and has rallied more than 30% in just 5 trading sessions, despite market volatility. Currently the stock is trading at 395 levels. We advise that one should look for buying on dips approach to enter into the trend until 370 remains protected on the downside.
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