PGOLD on potential breakdown

Puregold Price Club, Inc.

PGOLD is on a potential breakdown from a Descending Triangle pattern consolidation with a measured price target around 39.

*Immediate support area around 41.55.

As previously noted, a Descending Triangle is a bearish bias chart pattern. See previous analysis for more details:

https://psetrends.blogspot.com/2017/04/pgold-descending-triangle-consolidation.html

Trading Plan

- Avoid for now

PGOLD Descending Triangle consolidation

Puregold Price Club, Inc.

PGOLD is consolidating into a Descending Triangle pattern (bearish bias) after completing a Bearish 1.27AB=CD harmonic pattern.

*Immediate support area is around 42.90~43.35.

See previous analysis on the Bearish 1.27AB=CD harmonic pattern:

https://psetrends.blogspot.com/2017/02/pgold-looking-toppish.html

Trading Plan

- Avoid for now until the bearish bias pattern has been invalidated.

PGOLD looking toppish

Puregold Price Club, Inc.

PGOLD looks toppish after potentially completing a Bearish 1.27AB=CD Harmonic Pattern. A Gravestone Doji candlestick also formed up around the PRZ (Potential Reversal Zone) of the harmonic pattern which potentially suggest that the bullish rally or uptrend is about to reverse or consolidate.

*Gravestone Doji requires confirmation.

Trading Plan
- Sell or scale down position on reversal pattern confirmation.