Contents:
- Trade Details
- Hybrid 10-Step Trading Strategy Review
- Final Trade Assessment
- Next Steps
Trade Details
- Stock: Premiere Island Power REIT Corporation (PREIT)
- Exchange: PSE
- Timeframe: Intra-Day (Daily Chart Reference)
- Date: January 24, 2025
- Closing Price: ₱2.21
- High: ₱2.21
- Low: ₱2.21
- 20-MA (Short-Term Trend): ₱2.19
- 200-MA (Long-Term Trend): ₱1.98
- Key Pullback Levels:
- 100% (Recent High): ₱2.40
- 75% Pullback Sweet Spot: ₱2.30
- 66% Pullback: ₱2.26
- 50% Pullback Sweet Spot: ₱2.20
- 33% Pullback: ₱2.13
- 0% Pullback (Major Support): ₱2.00
PREIT Intra-Day Chart Analysis – January 24, 2025
Hybrid 10-Step Trading Strategy Review
Step 1: Identify Market State & Trend Context
PREIT is trading in a sideways consolidation phase, with price fluctuating around the 50% pullback sweet spot (₱2.20). The 20-MA (₱2.19) and 200-MA (₱1.98) suggest a stabilizing trend, but price needs a breakout above ₱2.26 to confirm bullish momentum.
Step 2: Assess Price Position Relative to Key Levels
- Price is above both the 20-MA and 200-MA, signaling bullish bias.
- The 50% pullback sweet spot (₱2.20) is being retested, which is a potential buy zone.
- The 200-MA (₱1.98) acts as strong long-term support.
Step 3: Power Bars & Retracement Strength
- The breakout above ₱2.20 is forming a green power bar.
- Volume is slightly increasing, indicating potential buying pressure.
- No major retracement yet, but price needs to hold above ₱2.20 for further upside confirmation.
Step 4: Entry Confirmation Based on Retracement Levels
- Ideal entry zones: ₱2.20 (50% sweet spot) or ₱2.13 (33% retracement).
- Current price is testing ₱2.21, making this a valid momentum entry.
- A more conservative entry would be near ₱2.13 if a pullback occurs.
Step 5: Tactical Stop-Loss Adjustments
- A stop-loss should be placed below ₱2.13 (33% retracement).
- A more aggressive stop would be below ₱2.19 (20-MA support).
Step 6: Color Change as a Secondary Confirmation
- The transition from red candles to green power bars at ₱2.20 strengthens the bullish case.
- If price drops below ₱2.19 and turns red, it could signal trend weakness.
Step 7: Profit-Taking Aligned with Retracement Targets
- First profit target: ₱2.26 (66% retracement)
- Secondary profit zone: ₱2.30 (75% sweet spot)
- Full profit-taking recommended at ₱2.40 (recent high).
Step 8: Re-Entry at Secondary Retracement Pullbacks
- If price retraces back to ₱2.13-₱2.20, it could offer a secondary entry.
- Another opportunity could arise if price breaks ₱2.26 and pulls back for retest.
Step 9: Tactical Position Management
- Increase position if price holds above ₱2.26.
- Reduce exposure if price drops below ₱2.19.
Step 10: Counter-Trend Trades Only When Retracement Fails
- No counter-trend trades advisable unless price drops back to ₱2.00 (0% retracement).
Final Trade Assessment
- PREIT is testing the 50% pullback sweet spot at ₱2.20, making it an interesting level for a breakout play.
- A confirmation above ₱2.26 strengthens the bullish case.
- Profit-taking should be planned around ₱2.26-₱2.40.
- Ideal re-entry zones lie around ₱2.13-₱2.20.
Next Steps
- Monitor if price holds above ₱2.20 for a potential long entry.
- If price breaks ₱2.26 with strong volume, add to positions.
- Watch for pullbacks near the 20-MA (₱2.19) for better risk management.
Disclaimer: This post is for informational purposes only and should not be considered financial advice. Always do your own research before making any trading decisions.
Related Readings
- Micro Stock Trader: Comparing the Modified 10-Step Trading Strategy vs. Retracement Trading Strategy
- Micro Stock Trader Portfolio Tracker Page
No comments:
Post a Comment