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PGM_Platina Resources Limited

Chart Forum » Stocks - ASX: short term (strictly TA) » PGM_Platina Resources Limited

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tryhay
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Username: tryhay

Post Number: 1549
Registered: 09-2005

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Wednesday, June 01, 2016 - 06:35 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Peter mentioned PGM in the Early Stage 2 Weinsteins candidate thread this-morning. https://forum.incrediblecharts.com/userscripts/forums/show.plx?tpc=316907&post=182277 has the weekly chart attached.

My order was only partially filled but looks like PGM is in for some exciting times IMO.

Introduction:
Platina Resources Limited (PGM) is an international resource company focused on the exploration and development of global portfolio of precious and specialty metal projects. PGM currently focuses on the Owendale Project in Australia, the Skaergaard in Greenland and Munni Munni PGM Project in Australia.

I have not heard Li mentioned but platinum and scandium seem to be well sort after - I see Plat. has pulled back to the 38% Fib with a doji on 31/5. I think more discrete fundamentals are driving PGM's PA.

Daily chart suggests inordinate interest (most volume in six (6) years), after pull back to a long term higher low (from July 2013).


Daily


(Message edited by tryhay on June 01, 2016)


Happy trading DYOR


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tryhay
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Wednesday, June 01, 2016 - 10:02 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I looked a bit closer at Peter's chart in the "Stan" thread and noticed that it is a daily chart! One of the classic realities of life is we all have a different interpretation of the same event/s or in this case the same chart/s - I'm sure that is why the market is so productive (ah la what is an elephant like [trunk, tail, ears etc]). It is the gestalt that is of import.

PGM weekly chart shows price action has been down trending for ~fifteen (15) years and it may well be ready to test the top of the channel (recently broken out of short term down trend), and 30 MA is now solidly under PA.

I expect 10 Cents to slow down PA in this instance, who knows it may wish to break out higher....

weekly

(Message edited by tryhay on June 01, 2016)







Happy trading DYOR


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tryhay
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Sunday, June 05, 2016 - 05:40 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



There is no doubt about that Peter - he has sold out already but I have retained some for possible swing higher - and may well top up on any pull back...

p d


Happy trading DYOR


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tryhay
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Tuesday, June 07, 2016 - 04:30 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



PGM has closed the gap but probably needs to pause longer before popping higher...


Daily


Happy trading DYOR


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tryhay
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Thursday, August 25, 2016 - 09:27 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Weekly candle & volume shows interest is returning to PGM; if ~15.5 Cents is taken out then expect higher...

weekly


Happy trading DYOR


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peterloh
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Monday, August 29, 2016 - 09:12 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Chart wise now has truly broken out and returned to retest support several times without breaking down in the weekly chart. In the daily chart PGM has a big black candle, so it may return to retest the breakout this week and have another go later in the week or next week just like the RSI may test the 50% mark.
When I initially traded PGM,it was setting up for a Weinstein's stage 2 breakout and had not met all requirements then which it has now. Whereas in you trading strategy, you have a hand in almost every pie you have traded whereas I moved on once the trade is completed I tend to clear out, returning only with a fresh approach.
I like the volume in the weekly chart with the wig at the top of the candle, showing buyers are not having things all on its own. The daily chart confirmed that by the big black candle on Friday. Will returned to have another look at the end of the week or next.








-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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tryhay
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Username: tryhay

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Tuesday, January 10, 2017 - 04:32 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Looks like PGM is about to make another crack at resistance - wouldn't be surprised if it busts through this time...

Weekly chart:

Weekly


Happy trading DYOR

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