PAHC: One's Meat Or Poison ?
Prices appears to be forming a 3 wave A-B-C correction which might have already been completed or sub-divide a bit down further before resuming its uptrend.
Average turnover has been decreasing steadily since Minuette Wave (iv) started.
Prices have found support around the 50% .
If Wave (iv) is not completed, it should do so very soon without retracing downwards much further.
If prices makes it way down further towards 38.2% fib retracement and finding support, I am not ruling out the prospect of sub-minuette ii forming instead.
However a strong break down of 38.2% fib retracement will bring more implications, which I will then review and discuss.
Till then, the bias is still to the upside.
Volume is lacking somewhat.
We must see stronger average volume for a successful break up.
A break down towards Key Support could imply a more complex consolidation underway.