PNV has seen some meteoric rises at times and some equally large falls – so it isn’t one for the faint-hearted. Price has fallen back to the lower boundary of a price channel and theory says it could bounce up off this level to head back towards the top of said channel. That change of trend would need to be confirmed before entering a trade. Elliott Wave count is unclear, but one possibility suggests price might keep right on falling towards the underlying (blue dashed) level of long-term support around $1.40 (perhaps with a bounce up towards $3.20 before collapsing). A high risk trade.

PNV 29Jan21

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Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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