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Pilbara Minerals: Readying Itself

Technicals | Sep 07 2021

This story features PILBARA MINERALS LIMITED. For more info SHARE ANALYSIS: PLS

By Michael Gable 

In today's research we have analysed Pilbara Minerals ((PLS)).

When we looked at the PLS chart at the end of July, we noted the breakout and predicted that it was at the start of the next rally. After running hard into mid-August, the shares have then entered a consolidation period. We can see that this is in the form of a symmetrical triangle. Price action has settled down in the last week, in preparation of the next break. We saw a high-volume break on Friday, but yesterday the share price moved back into the range. We may see it move sideways for a few days more, oscillating around the $2.20 level, but the next move from here should be to the upside. Current levels are a buying opportunity in preparation of the next rally higher.

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). 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.
 

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CHARTS

PLS

For more info SHARE ANALYSIS: PLS - PILBARA MINERALS LIMITED