Disclaimer: This is not a buy call. Just an analysis from a newbie..
POS first major resistance is at the level 1.130.
Price tried to break the resistance several time.
The first time price tried to break was around May but failed. However, it tried again also in May and caused a false breakout to happen.
Price then retracted with low volume until 0.75 where buying pressure comes in around late October.
In November price break long term trendline with high volume and tried to break horizontal resistance of 1.130 again and failed but only minimal retraction with low volume.
Yesterday tried again to break 1.130 but still failed.
Hence it retraced to an area between the 2 moving averages which for me is an area of value.
POS may currently forming its new bull trend after a long bearish trend.
Noted with current COIVD-19, we can see courier usage has increase exponentially as people shop online more often than physical store.
Just my 2 cents..
Sincerely,
Izwan Aizil.
POS first major resistance is at the level 1.130.
Price tried to break the resistance several time.
The first time price tried to break was around May but failed. However, it tried again also in May and caused a false breakout to happen.
Price then retracted with low volume until 0.75 where buying pressure comes in around late October.
In November price break long term trendline with high volume and tried to break horizontal resistance of 1.130 again and failed but only minimal retraction with low volume.
Yesterday tried again to break 1.130 but still failed.
Hence it retraced to an area between the 2 moving averages which for me is an area of value.
POS may currently forming its new bull trend after a long bearish trend.
Noted with current COIVD-19, we can see courier usage has increase exponentially as people shop online more often than physical store.
Just my 2 cents..
Sincerely,
Izwan Aizil.