PRMX and CHP update

The PRMX ,after having its 52-week high on a Friday,was expected to experience a sell-off ,based on the rule. During the few hours in the morning, it reached its High-of-Day(HOD) at 5.18 before closing red at 4.85 on a Monday.I sold all before it reaches the previous day’s high. And notice the RSI too that made ‘untog’ at 70. The consolidation right after it is probably the handle of the Cup-and-Handle pattern that is forming.

2017-02-11_215545


Here’s what CHP looks like today. On my last post,it was left with two possible choices it might traverse,the rising wedge or the downtrend channel line. It chose the latter after a few attempts of continuing with the wedge. Look at the last candle,it respected the support of the downtrend channel line. Bounce,come Monday?2017-02-11_214851

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