PERI Long [Trend Continuation]
Market Phase & Period:
- Uptrend: July 2022 - ongoing
Description:
- A bullish trend began in July 2022 after approximately 6 quarters of consolidation
- The price broke the $30 level with increased volume and reached a peak of $43
- There was a rebound to $30 followed by increased volume, which held the price in late May
- There was strong price action on July 6th with increased volume
Action:
- Considering a long trade with a target of $53 and a stop below the level
- The RR ratio is 3.5 to 1
Risks:
- There was an increase in short volume in late April to early May
- Uptrend: July 2022 - ongoing
Description:
- A bullish trend began in July 2022 after approximately 6 quarters of consolidation
- The price broke the $30 level with increased volume and reached a peak of $43
- There was a rebound to $30 followed by increased volume, which held the price in late May
- There was strong price action on July 6th with increased volume
Action:
- Considering a long trade with a target of $53 and a stop below the level
- The RR ratio is 3.5 to 1
Risks:
- There was an increase in short volume in late April to early May
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