PERI Long [Trend Continuation]

Market Phase & Period:

- Uptrend: July 2022 - ongoing

Description:

- A bullish trend began in July 2022 after approximately 6 quarters of consolidation
- The price broke the $30 level with increased volume and reached a peak of $43
- There was a rebound to $30 followed by increased volume, which held the price in late May
- There was strong price action on July 6th with increased volume

Action:

- Considering a long trade with a target of $53 and a stop below the level
- The RR ratio is 3.5 to 1

Risks:

- There was an increase in short volume in late April to early May