PLC at potential profit taking area

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PLC has recently hit the major resistance at 1.60 after a +25% rally since it rebounded from its 5-month uptrend line last February.

The major resistance at 1.60 is also around 20% upside from the previously recommended test buy point. See "PLC trend trading potential" analysis:
https://psetrends.blogspot.com/2017/02/plc-trend-trading-potential.html

Trading Plan
- Scale down position (take profit) near the major resistance area (or wait for the trailing-stop to be hit before closing position).

PLC trend trading potential

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PLC revisited the nearly 5-month uptrend line around MA50, a potential support area for the current trend.

*Major support at 1.20.

Trading Plan
- Test buy near the uptrend support line or around 50MA to ride the trend.
- Set stop-loss just a bit below 1.24 or on major support breakdown.
- Profit run a winning trade with trailing stop.