PHEN technically completed the Bullish Shark harmonic pattern and fully tested the 2nd PRZ (Potential Reversal Zone) area around 113% retracement. A Bullish Engulfing pattern also formed up around the PRZ area - a potential trend reversal candlestick pattern.
See previous analysis of this harmonic pattern here:
https://psetrends.blogspot.com/search/label/PHEN
Trading Plan
- Buy as close to the 113% retracement PRZ area.
- Set stop-loss a few points below the recent swing-low.
- Potential TPs are the 38.2% and 61.8% retracements.
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