PSNY: CHART UPDATE / SUPPLY & DEMAND / SEMI-MICRO ANALYSIS / RSI
DESCRIPTION: In the chart above I have provided a SEMI-MICRO ANALYSIS of PSNY. With previous setup being invalidated with continuation of sideways price action and continued consolidation.
POINTS:
1. Deviation of 1.50 points justifies SUPPLY & DEMAND POCKET PLACEMENT.
2. RSI has now officially reached 40 threshold signaling an entry into OVERSOLD TERRITORY.
3. MACD CONTINUES LIMITED BETWEEN 0.14 & -0.14 without major shifts.
4. Despite RSI's drop into oversold territory, MACD continues to hold squeeze momentum.
IMPORTANT: EARNINGS REPORTED ON MARCH 3 & BREAK OF 6.50 WOULD BE FIRST STEP BEFORE FURTHER UPSIDE.
SCENARIO BULLISH: In a bullish scenario it would prove crucial for price action to hold above 5.50 with an eventual break above 7 to move price action into NEW SUPPLY & DEMAND POCKET.
SCENARIO BEARISH: In a bearish scenario price action breaks 5.50 to the downside and we come to continued bearish momentum to $4.
FULL CHART LINK: www.tradingview.com/chart/UUCv2fGk/
PSNY
PSNYW
POINTS:
1. Deviation of 1.50 points justifies SUPPLY & DEMAND POCKET PLACEMENT.
2. RSI has now officially reached 40 threshold signaling an entry into OVERSOLD TERRITORY.
3. MACD CONTINUES LIMITED BETWEEN 0.14 & -0.14 without major shifts.
4. Despite RSI's drop into oversold territory, MACD continues to hold squeeze momentum.
IMPORTANT: EARNINGS REPORTED ON MARCH 3 & BREAK OF 6.50 WOULD BE FIRST STEP BEFORE FURTHER UPSIDE.
SCENARIO BULLISH: In a bullish scenario it would prove crucial for price action to hold above 5.50 with an eventual break above 7 to move price action into NEW SUPPLY & DEMAND POCKET.
SCENARIO BEARISH: In a bearish scenario price action breaks 5.50 to the downside and we come to continued bearish momentum to $4.
FULL CHART LINK: www.tradingview.com/chart/UUCv2fGk/
PSNY
PSNYW
