$PHA Midday Analysis

Short-term outlook is bullish, the daily chart has reached a resistance level. The last time it was at this position was in April, after more than half a year of bottoming out. I wonder how many retail investors were shaken out during this period and if they regret selling in between?

In fact, this position is relatively high. If it breaks through, it is very likely to double again. However, I am not optimistic about a breakout because the rise has been too fast and requires a large amount of capital to continue pushing up to double. This would increase the cost for the operators! Moreover, it would decrease their profits, so it is highly unlikely to rise further. A short position around 0.23 is recommended, with a tight stop loss. Be sure to set a stop loss, in case it suddenly spikes up and you get caught!