price target - 6 months, page-13

Those not famaliar with pivots.

If the market opens above the pivot point then the bias for the day is for long trades. If the market opens below the pivot point then the bias for the day is for short trades.
The three most important pivot points are R1, S1 and the pivot.

The main idea with trading using pivot points is to look for a reversal / break of R1 or S1. Usually by the time the market hits R2/R3 or S2/S3 the market will already be overbought or oversold.

S=Support
R=Resistance

Todays pivots were;

R3 $0.105
R2 $0.090
R1 $0.083
PP $0.070
S1 $0.063

We opened well above PP at 0.08 but below 0.083. Based on the strength I felt 0.083 would be easily achieved and 0.09 was a real chance.

Once R1 was hit (the high at the time was 9.1) the SP retraced right back to R1 (0.083) which was previous resistance but now it became support. Another entry was possible upon reversal at R1.


pivots for tomorrow

R3 $0.110
R2 $0.100
R1 $0.095
PP $0.087
S1 $0.080
S2 $0.072
S3 $0.065

Depending on the DOW overnight, PLA will probably open better than 0.087, first resistance is 0.095 (which was todays high) my bet is that some selling will occur at this level.

Note there is a gap at 0.078 which is close to first support at 0.08. A negative night on the DOW could see this closed tomorrow or Friday as traders look to exit before the weekend.