In addition to the trifecta of News expected on May 15th -- News Trifecta
There is also 2 significant technical events happening almost at the same time.
May 15th - 3 x News equating to fundamental positives
May 15th - 2 x Technical events that could mark a breakout from current levels.
Peregrine Diamonds stock has already had a recent Golden Cross happen (50 DMA passing the 200 DMA). The stock has also maintained above the 200 DMA for quite some time.
There is now 2 technical events. A very long Cup and Handle formation where the stock is currently still in the handle formation before deciding to break to the upside or not.
The second one is a triangle forming that could equate to a significant breakout (upside or downside).
Throw in 3 significant news items and it looks like Peregrine Diamonds is setting up a volatile next 5 to 10 days.
No comments:
Post a Comment