I have had an eye on PI for some time now, but it was (and still is) impaired by its hands-on consumer related customers’ lack of engagement during COVID-19. Now, if today’s happy stuff is real and if this breakout is real, we may have a play here.
Going strictly by the weekly chart we find an attempted breakout. We also find a gap created today, so that’s a caveat. In the effort to balance according to events I gave it a try today.
It’s important to note that despite the hype of the day PI’s trend is still down. So there would be work to do to turn this firmly bullish. For now, I am buying the pattern and hoping to see 30 hold as breakout support.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.