People Infrastructure Ltd. engages in the provision of investment services. The company was founded by Declan Sherman and Tom Reardon in October 1996 and is headquartered in Albion, Australia.
www.peoplein.com.au
Position taken
Bought $4.58
Stop $4.25 (~2x ATR)
Portfolio risk at stop ~0.5%
Manage stops until I can put a 20% Trail on it and see what becomes of...
I was initially waiting for a break to the upside on the flag pattern, but it broke to the downside.
I think the market overreacted on second wave fears, so I bought it when the market shat itself 💩 this is "coincidentally" right on the 50EMA and oversold stochastics.
As stated in the heading, bullflag on the daily time frame suggesting a breakout to the upside after a period of consolidation.Held support at $3.20 so a stop loss just below would make sense.
Buy Price: $3.36 - Just above the short term resistance of this flag
Stop Loss: $3.20 - Strong level of support, would also mean wrong
Target: Possibly the next short term...
Chart setting up for a breakout of the previous high close. Breakout of $1.5 on volume would provide confirmation for me. But like all stocks, the pullback is the tell.
Quick update. Always position size so you can get out, which is an issue with this stock but looking at the chart its showing value. Perfect bounce yesterday/today.
