PRNT has been trending up nicely since it broke above a long term resistence at ~ 27.
The recent market sell off brought the price back down to just below it's rising 21 day moving average on Thursday. Then on Friday it began to shoot back up above this trendline, confirming a bullish divergence between price and RSI. Time to buy this dip!
Long @ 44.0 - 45.0 with intial stop slightly below 43. Short term traders can consider to scale out some profits between 52 - 55 (based on fib extensions of the recent dip). Long term holders can consider to sit tight for longer as long as we are still seeing higher lows (this is just one of the many criteria one can empploy)
Keep it simple!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
The recent market sell off brought the price back down to just below it's rising 21 day moving average on Thursday. Then on Friday it began to shoot back up above this trendline, confirming a bullish divergence between price and RSI. Time to buy this dip!
Long @ 44.0 - 45.0 with intial stop slightly below 43. Short term traders can consider to scale out some profits between 52 - 55 (based on fib extensions of the recent dip). Long term holders can consider to sit tight for longer as long as we are still seeing higher lows (this is just one of the many criteria one can empploy)
Keep it simple!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)