Hey traders, PILGRIMS PRIDE CORP is a bearish fake setup with a large buying volume and a water carrying candle. By leaning on the TIMEFRAME M1 We see a marubozu with a large volume of past sales which goes in the direction of its last previous lower break the VWAP to make a turnaround There is a great chance of breaking the VWAP in force breakout the price to come to the top of the consolidation zone to test its resistance for the breakout and to land on the second zone and to land on the high point See the TIMEFRAME H4 and H1. Not enough buying power to breakout the consolidation zone again and test the TREND BASED FIBONACCI EXTENSION which is the line that tells the story of PILGRIMS PRIDE CORP.
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