Thread by @malteseinvest

Analysis: #NYSE $PSTG

Case 447 #PureStorage Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#PSTG 1/4

Chart 1
Weekly Chart: Mar. 2020 saw price move down to a new all time low at 7.93 and failed to connect to the June 2016 #trendline. A good bounce followed but lost steam at the #confluence of #resistance s (synthetic trendline, the Nov. 2019 trendline and .....

PSTG 2/4

..... #Fib. 0.50 at 18.53). Higher up the 20.00 #pivot and Fib. 0.618, then another synthetic sloping at 23.04. A close/hold above 25.05 targets 25.73. To the downside #support is seen at 12.70- 7.62 and then 6.89.

PSTG 3/4

Chart 2
Daily Chart: An unfilled gap (14.35- 16.26) has formed. #Momentum is negative and falling.

The #Strategy is printed on the image.

$PSTG 4/4

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