PARR is basing and could be ready for a strong move
THE CONSISTENT TRADES analyze PARR as a bullish /strong fundamental stock and therefore would be traded only in a long position.
PARR had strong two bull weeks behind itself. It found resistance at 28 and is basing now. It needs to continue consolidation on this level for the continuation of the future bullish move.
Volume is fine for now and it needs to consolidate on a smaller volume than the 20-day average on this level to continue the bullish move up. Also, candles should be not too big in drop.
It is above all major MA which is bullish.
RSI is way overbought and needs to cool down before the next leg up.
MACD is also overbought and has bearish divergences.
Overall: PARR is a very strong fundamental stock but at the moment is overbought therefore would not be traded right away if the blue dotted line would be a breakout. It needs to consolidate for some more time for a bullish move and to form the high base, bull pullback, or something like that. 8 days MA must catch the price for a healthy bullish move.
PARR had strong two bull weeks behind itself. It found resistance at 28 and is basing now. It needs to continue consolidation on this level for the continuation of the future bullish move.
Volume is fine for now and it needs to consolidate on a smaller volume than the 20-day average on this level to continue the bullish move up. Also, candles should be not too big in drop.
It is above all major MA which is bullish.
RSI is way overbought and needs to cool down before the next leg up.
MACD is also overbought and has bearish divergences.
Overall: PARR is a very strong fundamental stock but at the moment is overbought therefore would not be traded right away if the blue dotted line would be a breakout. It needs to consolidate for some more time for a bullish move and to form the high base, bull pullback, or something like that. 8 days MA must catch the price for a healthy bullish move.
Consistency is the key of success....