PNTV Daily Chart ~ Nice Cup and Handle Formation
Post# of 2561
Posted On: 03/31/2014 8:35:24 AM
PNTV Daily Chart ~ Nice Cup and Handle Formation
Ater a big move earlier in the year, PNTV has traced out an fairly well defined cup and handle formation. I would look at a break and close over .05 as an important technical pivot point. There was a spike to .06 (outside the upper bollie for those who are watching) last week on the announcement of PNTV's new WeedTV Channel. As one can see, the pullback on Thursday and Friday was on very low volume. I like this set up for a break to new highs shortly. I did enter PNTV last week during the handle formation. I don't like the curling of the FullSto and MACDs, but I'm hoping that news will trump the technicals. (Yes, breaking the normal strategy and plan). I intend on adding more this week. GLTA
Ater a big move earlier in the year, PNTV has traced out an fairly well defined cup and handle formation. I would look at a break and close over .05 as an important technical pivot point. There was a spike to .06 (outside the upper bollie for those who are watching) last week on the announcement of PNTV's new WeedTV Channel. As one can see, the pullback on Thursday and Friday was on very low volume. I like this set up for a break to new highs shortly. I did enter PNTV last week during the handle formation. I don't like the curling of the FullSto and MACDs, but I'm hoping that news will trump the technicals. (Yes, breaking the normal strategy and plan). I intend on adding more this week. GLTA
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