f_carter93
Education

Sell after bounce

LSE:PPS   PROTON POWER SYSTEMS PLC ORD 1P
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Price is over extended after big move up (price increased over 50% in 4 days!). Pull backs are always highly likely after these moves so good time to short. Price pulled back as expected and a bounce has occurred, making a good entry point for another short position. Sell on the bounce and look for price target at the previous support levels.

To further support this trade, RSI is showing strong negative divergence. Drawing trend lines of the corresponding highs/lows on the market and RSI show the strength is massively weakening and price will drop.
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