Peep on PIP. No need to rush.

PIP retraces at 61.8% Fibonacci Retracement level following the rise to 5.37 per share from 4.24 per share. If the current bounce to 4.86 per share or above the 50% Fibonacci Retracement level will continue we might see PIP pops above the previous high of 5.37

It is good to monitor at this level but no need to rush. We will take the cue from our weekly chart where the current price is supported by the Kijun Sen line at 4.68 per share. If this will hold then we will see PIP to move to the next level otherwise the bearishness brought by the Doji candlestick will bring the price down to the next level below.


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A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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