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Strategies & Market Trends : Underexposed Technical Analysis

AQN 6.185

+0.2%

Dec 22 3:59 PM EST

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To: Trumptown who wrote (908)	4/11/2021 11:05:50 PM
From: Underexposed	Read Replies (1) of 914

Hi TT I will be happy to give a complete analysis of Pyrogenesis Canada Inc [PYR:TSX] [PRY:NASD] I looked at their financials and you are right....their revenues are rising quarterly and they are debt free. PYR Financials It is not that I did not believe you it is just that I posted this to make it easier for other interested investors to see this for themselves. I have created the Canadian stock charts for this company...It does not matter which exchange I use as the NASD and TSX charts track each other pretty closely the only difference is in the volume of daily shares transacted.... the TSX has about double the shares/day transacted compared to the NYSE You can see in the P&F chart this is not a new stock...it has been around for at least 10 years...a lot of those years as a sub-dollar stock... the big jump in Feb/2021 was due to the move of the American stock from from the OTCB to NASDAQ. Then you see profit taking which is normal but the exposure in NASD is much better than being in the OTCB as serious American investors don't look in the OTCB very much if at all. In the upper left corner you see a Bearish indication of a Triple bottom breakdown and a forecast bottom of $3.25. There is no doubt that the triple bottom was breached breached back on April 6 but I doubt the estimation that the stock price will fall to $3.25.... to do so it would have to pass through 2 layers of support ...one at $7.80 which may be weak and the other is from $5.85 to $6.15 which should be stronger. The column SMA's (based on midpoints of previous columns) are still mildly Bullish as the blue line is above the red but the blue is hooked down and if it crosses the red one then that would be bearish. The Trigger chart has lots of clues in it. First of all look at the red/green resistance/support lines....they form a triangle...in this case it is a descending triangle. Traditionally these types of triangles are considered as being bearish but that is not necessarily so....IT ALL DEPENDS ON HOW YOU ENTER THE TRIANGLE. This is a continuation formation. In this case the triangle formed from a positive surge in the stock price. So to me the descending triangle is Neutral Bullish. You must watch it closely because if it breaks that green support....well that would not be good. as you can see we are approaching the apex of this triangle...this will be resolved in 5 -10 business days as I see it now. Now look at the blue circle in the main chart. See how the share price rose above the upper Bollie and then entered the bollie envelope sideways.... this was bullish back then .... this reflects the excitement of the stock going from the OTCB to NASDQ....eventually it ran out of gas. Now look at the volumes...at the beginning of this rise the volume dramatically rose...it actually looked like it could be a pump/dump at that time as that is a typical chart profile of such action....but it is not a P/D since the share price maintained at least 1/2 its value... it did not drop to where this began....mildly Bullish Now let's look at the indicators....the Slow Sto and the MACD are very low...IF the BBWidth was sharply rising this would have been full on bear but the bbwidth was in decline since the maximum share price.... so the Slow Sto and MACD actions during this time can be ignored. However, the slow sto and MACD appear to be leveling off....watch them closely....if the Slow sto starts to rise, followed by the MACD that could be positive.... IF the BBWidth then suddenly rises that would be a BUY signal... remember the sudden rise of the BBwidth is the trigger of an event...both the Slow sto and MACD must be going in the same direction to decide if the event would be Bullish or Bearish If you look at the Nasdq version of Pyr...you will see the share volume is significantly higher after it changed from OTCB to NASDQ....this shows that there is increased interest in this stock which to me is mildly Bullish One thing holding this stock back in America is that it is a sub-$10 stock...Americans consider this a penny stock...once it rises above $10 it will get even more attention..... it is different in Canada... Stocks above $5.00 are considered to be entering maturity and as such are followed more closely by Canadian investors. The sentiment chart is pretty straight forward. there is nothing particularly in the main chart... I don't look at the Par Sar unless it is in the throat of a Bollie squeeze. the Force 100 is bullish the RSI(30) is neutral the DI +/- is chaining which is showing indecision and could go either way... neutral The Ichimoku chart shows the share price has entered a green cloud.mildly Bearish. The lower edge of the cloud is at $7.50 and the upper edge is at about $8.50. The lower edge is a support with the price going towards it the other is a resistance...actually these values compare favourably to the resistance/support that I found in the P&F chart. the lower edge is fairly flat whereas the upper edge of the cloud is falling.... this shows a short term weakness in the cloud and an opportunity for the share price to escape the cloud....there is another weakness showing in the middle of May show there will be a second chance for escape.... mildly Bullish. The OnBal Volume is neutral The CC! is Bearish The CMF is also Bearish Conclusion Now we compare bullish and bearish indications cancelling out opposites to arrive at a conscensus of opinion. Bullish:.................. 1 Mildly Bullish:....... 4 Neutral Bullish:.... 1 Neutral:................ 3 Neutral Bearish: Mildly Bearish:.... 1 Bearish:............... 3 Cancelling out opposites Bullish:.................. Mildly Bullish:....... 3 Neutral Bullish:.... Neutral:................ 3 Neutral Bearish: Mildly Bearish:.... Bearish:............... 2 When I look at this result I cannot see a definite direction for the share price...there is a very slight bias to the bear but it is not convincing. My opinion is that If you already own the stock it would be a HOLD for me...a lot would depend on the resolution of that descending triangle... I would not add any shares to my holding though unless you see a positive resolution. If you are thinking of making a first purchase it would be a Watch... again it would depend on the position resolution of that triangle. I lean to a positive result for this stock from the things I read but the charts are not that convincing in the short term I hope this helps you Good trading UE

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