PHA put in a high of 0.0665 today and has since retraced to 0.0516.
That's a serious wick. Volume hit $25M, but sellers met the bid hard at the top of the range. The bull case is that price is still holding the EMA20 around 0.0487. The bear case is that wick is the whole story.
The desk thinks that was the exhaustion move. Too much supply overhead now.
Buying this dip, or was that 0.0665 the exit?
$PHA
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That's a serious wick. Volume hit $25M, but sellers met the bid hard at the top of the range. The bull case is that price is still holding the EMA20 around 0.0487. The bear case is that wick is the whole story.
The desk thinks that was the exhaustion move. Too much supply overhead now.
Buying this dip, or was that 0.0665 the exit?
$PHA
New reads post through the day. Follow so you don't miss the next one.
