Broke support - Will it reach 0.18 to trigger a Butterfly?
PLX broke below support last week, following its earnings.
If PLX won't close above support this week (which looks like it won't... but still about 60 minutes to the close), it will probably continue lower.
The next potential Buy Zone is near 0.18$
The chart shows that near 0.18$ we have:
- Completion of a bullish Butterfly pattern
- The bottom of a trading channel
If PLX will close above support again (before hitting the 0.18$ level), it will generate a potential false break
and will probably drive the stock back towards the top of the channel
If PLX won't close above support this week (which looks like it won't... but still about 60 minutes to the close), it will probably continue lower.
The next potential Buy Zone is near 0.18$
The chart shows that near 0.18$ we have:
- Completion of a bullish Butterfly pattern
- The bottom of a trading channel
If PLX will close above support again (before hitting the 0.18$ level), it will generate a potential false break
and will probably drive the stock back towards the top of the channel