PAR bounced down off resistance at $3.00 and is currently making another try at that level. A break and close higher would give a target of $3.52. The blue dashed line is a very strong level of support that price has respected for 2 years. After rising from the March Covid low, price retested that support before moving up again. Elliott Wave is unclear and while I’ve traded a small predicted pattern rise, I see reasons why this stock could go on to make new highs above the previous top of $4.40 However, I’ll need to see how price unfolds over the coming weeks and months.

PAR 6Nov2020


Robert Norman

Phone: 0428 346 951

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