georgie18's House of Gain...

[georgie18]

PURO...0122...The close was good...look at the chart...look at the run for 2000% range then 6 days consolidation and minimal dip...so it held great...not good but great...then a 350% range run up and 6 days consolidation...

The second move up was a descending Triangle breakout...breaking the 008 resistance line and running to 02 range...

That resistance became the new support line as PURO formed an Ascending Triangle...with lower highs meeting the the linear bottom support ...

The Ascending Triangle was started by the high that was formed by the 02 move...Today was the first attempt to pierce that Ascending Triangle since it was formed showing that the consolidation is over and the hammer shows the Bulls are now in charge...That hammer did not touch the support line and was turned away by the upper bollie which is sitting right on the Ascending Triangle...

It may take 2 or 3 attempts to breakout of an Ascending Triangle and today was the first day...

When not if we breakout of the Ascending Triangle we break the upper bollie as well as flip the psar to a bullish buy position...

RSI has moved from 93 range extremely overbought position and has reset to 70 range power zone position Williams from -8 range extremely overbought position and has reset to -44 position...Please take not that neither indicator has ever moved into the oversold position since this move up...That means the chart is extremely healthy with no violent moves always letting PURO rest comfortably after a move up...before it prepares for the next move up...

This chart is well orchestrated and you will not find a better fundamental set up then this chart...

This is all just my viewpoint so trade accordingly...



This is a classic fundamentally sound chart that is being constructed here ... a move up then consolidation...another move up then consolidation...next move up leads us to Blue Skies with minimal topside resistance...