PSNY: DIVERGENCE / CALLS FOR MAY / US TOUR CATALYST / EV GROWTH
DESCRIPTION: The following chart is an micro analysis based of technicals & current PSNY US TOUR that can soon prove to be a bullish catalyst for the next big bounce.
POINTS:
1. Deviation between Supply & Demand Pockets remains at 1.50.
2. $3.25 is CRUCIAL SUPPORT THAT MUST HOLD.
3. Break past $4.00 threshold by April 19th is necessary for bullish case to take place.
INDICATORS: In regard to indicators RSI is showing strong divergence on the 4HR Timeframe which has been indicative of a sudden bullish reaction in the past when price action has ben in a consolidating phase. An important level to watch when it comes to MACD would be -0.5 currently MACD is close to crossing over but needs to stay above to further validate play.
SCENARIO #1: In a BULLISH scenario we come to see price action break past the $4.00 threshold by at least April 19th.
SCENARIO #2: In a BEARISH scenario we lose CRUCIAL SUPPORT of $3.25 & see a continuation of bearish price action too $2.50.
FULL CHART LINK: www.tradingview.com/chart/UUCv2fGk/
PSNY
PSNYW
POINTS:
1. Deviation between Supply & Demand Pockets remains at 1.50.
2. $3.25 is CRUCIAL SUPPORT THAT MUST HOLD.
3. Break past $4.00 threshold by April 19th is necessary for bullish case to take place.
INDICATORS: In regard to indicators RSI is showing strong divergence on the 4HR Timeframe which has been indicative of a sudden bullish reaction in the past when price action has ben in a consolidating phase. An important level to watch when it comes to MACD would be -0.5 currently MACD is close to crossing over but needs to stay above to further validate play.
SCENARIO #1: In a BULLISH scenario we come to see price action break past the $4.00 threshold by at least April 19th.
SCENARIO #2: In a BEARISH scenario we lose CRUCIAL SUPPORT of $3.25 & see a continuation of bearish price action too $2.50.
FULL CHART LINK: www.tradingview.com/chart/UUCv2fGk/
PSNY
PSNYW
