STOCK CHARTS AND ANALYSIS – PPC
STOCK CHARTS AND ANALYSIS – PPC
In accordance with our Independence Day commitment, following is our Technical Analysis of PPC (PRYCE CORPORATION) as of August 4, 2015.
This completes our THREE for FREE for this week. (PCOR – Index Stock, MCP – 2nd Liner and this one PPC – 3rd Liner)
TA – The Responsible Trader’s Way – No Hyping, No Bashing, Just Plain Cold Facts.
Positive
1. Cup and Handle in the making. PPC appears to be forming a Cup and Handle Pattern. A breakout from P4.50 (100% Fibo Resistance) could send the stock to its Pattern Target of P7.10.
2. Price action above 15 EMA and 20 SMA – Bullish – Short Term. Recent Price action that is now way above 15 EMA and 20 SMA shows that the stock is Bullish on the Short Term.
3. Price action above 50 SMA – Bullish – Medium Term. Recent Price action that is also way above 50 SMA shows that the stock is also Bullish on The Medium Term.
4. Price action above 200 SMA – Bullish – Long Term. Most of the stock’s price action have been above the 200 SMA indicating that the stock is in Bull territory.
Negative
1. MACD Bearish Divergence. Although the stock has made a higher high, MACD has not risen as much. This could indicate a weakening of the stock’s momentum.
2. RSI Bearish Divergence and approaching Overbought Level. Similar to the MACD, although the stock has made a higher high, RSI has not risen as much. This could further confirm a weakening of the stock’s momentum. Morever, the stock is now approaching overbought level (RSI more than 70) suggesting a possible pullback.
NOTES:
1. Positive points are things that could work in your favor. Negative points are things that you have to watch out for.
2. On the opposite side of Pattern Targets are Pattern Failures. In case you decide to take this trade, always remember to set a stop loss based on your established risk tolerance level.
The Chart and Analysis is presented for educational purposes only and should NEVER BE TAKEN as a RECOMMENDATION to BUY, HOLD, or SELL.
Please trade with CAUTION, please trade with CARE. As always, IT’S YOUR TAKE, IT’S YOUR CALL. IT’S YOUR MONEY AFTER ALL.
Good luck on all your trades.