Dear friends, the recent price fluctuations of PEOPLE have really attracted a lot of attention. Regarding the question of whether to chase the rise, I would like to share my views with you from the following aspects:
Signal of high cross star
From the high cross star with an amplitude of up to 13.35% closed 3 hours ago, this is really a signal that the market sentiment is very unstable. Usually this pattern means that large funds have begun to ship in batches with the help of retail investors' chasing emotions.
The impact of chasing emotions
Although the chasing emotions themselves are an irrational buying force, they also represent the power of bulls. In the short term, this emotion does have a pushing effect on prices. Therefore, if you decide to chase the rise, you can consider buying when the short-term retracement reaches the upper track of the support range of 0.63.
Stop loss and profit target
Stop loss: If the price falls below 0.61, we must resolutely stop loss. This is to avoid further expansion of losses. Profit target: For short-term operations, it is still feasible to make a profit of 5%8%. The large-scale suppression level is 0.780.82, but whether it can reach this position depends on the luck of the market.
