123Tom's TA study group

[123tom]

PVG big picture.


click chart to enlarge detail
looks like its crafting into a triangle terminal around 8.50 area
9.50 resistance,maybe even 9 dollar resistance overhead. support zone 8.50-8.00 and anything in the high 7's has a few support steps.

some thoughts,The rallys were very fast surges, way too fast, so the sideways slides up and down to stretch out time maybe thru the rest of the year, could retest 9.50 or 7.60 again, but 8 dollar area looks like the central target to watch right now. even if it holds at 8.30 and bounces back to test 9 dollars, I suspect price could be met with some strong resistance capping at 9.00-9.20 area. Failing at 9.50, and getting stuck in a range from 9 to 8 dollars to finish the year. The topping zones at 10-11-12 seem like places to trim some profit in this picture. and maybe buying some at 8 is ok,to trade.