PKKFF should do a strong move next week
I have no position in this, but am keeping an eye on it. Time is running out on PKKFF and it should do a strong move soon but entering here is a gamble.
-As the daily hull (highlighted) starts to crash into the price, it acts as resistance.
-I see a pennant forming with the channel top as the resistance, likelihood of this being bearish is higher than a bullish reversal from what I've seen in other penny stocks.
-Macd and stoch look like they will turn to the downside too.
-I would not consider touching PKKFF until it can break that down channel and the daily hull.
-However, buying on the bottom support of the channel can bring nice swing opportunities if you can time it right.
-One bullish argument is the supertrend is a buy, it bounced on the 100 week EMA, and China stocks have been pretty good lately.
-As the daily hull (highlighted) starts to crash into the price, it acts as resistance.
-I see a pennant forming with the channel top as the resistance, likelihood of this being bearish is higher than a bullish reversal from what I've seen in other penny stocks.
-Macd and stoch look like they will turn to the downside too.
-I would not consider touching PKKFF until it can break that down channel and the daily hull.
-However, buying on the bottom support of the channel can bring nice swing opportunities if you can time it right.
-One bullish argument is the supertrend is a buy, it bounced on the 100 week EMA, and China stocks have been pretty good lately.
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