I reiterate - thank you Hancocks. I really appreciate your input into this thread.
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I reiterate - thank you Hancocks. I really appreciate your input into this thread.
Well it appears someone is selling this morning leaving PEB on it's MA200 for the first time in a year or so.
I don't think we will see this again for some time, very very tempting ..............
Has te story changed - no.
Unusually big volume - no
So why the selling - nervous people.
So don't be one of them. 8-)
Doubling down is always a risky, not recommended game. Better to have faith and ride out the fluctuations. From what I see, PEB plays there cards close to their chest and when they report good news this stock will go. Until then, go for a long walk around the block.
I wish.
I will point out that I was only nervous as my buying appears to be a sell signal for the rest of the market (how they know I have no idea), especially of late. My sells however appear to be triggers for the stock to rally (luckly I only did partial sell downs recently where shares were overwieght, not the full holding)
I am happy with my existing holding, and given my optimism, doubling that probably isn't a bad idea, at the right price.
It seems the big player has not got enough chips.
Pretty interesting situation happening from a technical perspective right now (so please read this as only technical, has nothing to do with the future success of the company)...
Resistance is sitting at 61 cents, whilst there is support at 58 cents. The thing that interests me the most is the EXTREMELY tight bollinger bands, indicating very low volatility. It cannot stay this way, volatility will return. This is called a "squeeze". A break outside of either band will occur very rapidly and the run will generally be quite large, especially due to extreme tightening here. There is also the 200 DMA at 56 cents which should act as major support if the lower band was to be broken. OBV has recently been going downwards, indicating money flowing out of the stock (evident through the daily depth, a few big sellers getting out).
From my view, I believe there is enough support for PEB to break out upwards instead of downwards (although this can't be predicted). I would be extremely surprised if 56 cents was broken, I feel that it wont be able to get through 58 (on volume). A close on or above 62 cents would indicate a definite buy.
Disc: Hold a good chunk of PEB.
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