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PRDGS Very Likely At Its BottomPRDGS will probably start its bounce starting from Monday next week and possibly extend it with the announcement of the quarterly balance sheet. We can clearly see the 5 wave Elliot Wave and that the sellers are exhausted with the Weiss Wave Analysis, also a nice sign that the weekly closure was above the lower 1.618 fib line and depending on how the broad XU100 does this might probably be the end of a near 3 month downtrend. Be greedy when others are fearful and be fearful when others are greedy!
BIST:PRDGSLong
by Attrition
PRDGS at a major weekly support level potential bounce hereFriday had INSANE amount of volume (like 10x of average daily) with buyers absorbing most of the sales at the minimum traded price level (10 TRY) which kind of forms a new bottom and entry for a lot of major players so with bears getting exhausted and with thinner low liquidity sell-side order book might mark the end of the major correction and can bounce even up to %50 next week but probably a bit more conservatively, at the worst it should again close the next weekly candle above the 10 TRY level even if it wicks/dips below during the week so it kind of is a safer play to get an entry here. On the daily chart side there is also again major support at 9.4 TRY level so i'm predicting a minimum daily close (can wick below but cant close) of 9.4 TRY next week.
BIST:PRDGSLong
by Attrition