PLA ready to make an explosive move

by Michael Gable

PLA has displayed some encouraging price action recently. In late March, a production update at Smokey Hills saw the share price rocket over 200% in the space of 5 days. Two months later, the share price has finally drifted back to retrace most of that move. It is always a good sign when you see a big move up on high volume, and then a much longer pullback on much lower volume. Today's big move indicates that the slow drift has ended and we are about to get another explosive move on PLA. Traders will need to ensure they place a stop loss under the March low.

Disclaimer

Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.