Post by
LONAMIS777 on Jul 14, 2020 9:07pm
This ticker
Over 250 000+ on volume (decent liquidity), nearly 1-7 on the bid to ask ratio respectively (more sellers than buyers, indicates fear which as a contrarian (one who does the opposite of most traders) prompts me to buy when people are fearful and sell when they have confidence (greed)...
Technical chart shows a 6-9 bullish (upward price momentum) to bearish (downward price momentum) ratio respectively (indicates strength is leaving the price as sellers weakent the price by selling into the bid)...
The most recent bullish indicator being the macd (indicates the price has gained momentum and the macd has crossed the signal line moving the share prie up), and the most recent bearish technical indicator is the cci commodity channel index (indicatiing the price has fallen lower than its historical norm due to a loss of upward price strength and momentum which tells me that a psar ((parabolic stop and reverse) could be coming which means with the right catalyst (good news) strength will return to the share price pushing it back up to and beyond it's current 52 week high of $0.09)...
The M.S. quant report gives this ticker a fair market value of $0.02 which is a 27% discount on the current market value of $0.015 (good time to buy in or avg down)
So for all the reasons listed above PRMO is my number 1 pick for 2020...
The risk to reward ratio is very promising at these levels... it is reasonable to buy in and or avg down if need be while picking up more shares on all the dips and holding for the longterm ie 6 months +...
GSTA THE LONGS