PACB: Early Markup Phase – Bulls in Control, Box Breakout, Next
Candlestick Analysis
The last 3 daily candles form a bullish continuation sequence:
Strong green candles with expanding bodies, closing near their highs. No significant upper wicks—this is a hallmark of sustained buying. Volume is not tapering; instead, it's growing, confirming conviction behind the move.
Earlier, around mid-June, there was a small consolidation followed by a bullish Marubozu candle (open near low, close near high). This often acts as a breakout candle per Nison.
No major reversal signals (no shooting star, bearish engulfing, or doji clusters at the highs yet).
This suggests momentum bulls are in control.
Trend & Momentum
Trend health: A fresh higher high and higher low sequence is emerging after months of compression. Price is starting to look parabolic, though still early.
Momentum:
RSI is now at 72.4 (overbought territory). This often precedes pullbacks, but in strong trends it can stay overbought for weeks.
MACD is strongly positive and widening—classic early stage trend acceleration.
This feels like a sentiment shift from apathy to FOMO. Watch for “emotional” moves if volume spikes further.
Range Box
The prior range formed a box.
The recent breakout above ~$1.30 is a clean box breakout with expanding volume—this confirms the breakout is likely genuine, not a false trap.
A new box may form $1.30–$1.64 if price stalls here.
The Tactical Play
This chart is flashing early markup phase (accumulation → breakout → markup). But the crowd is waking up now, so you have to manage emotion and probabilities like a tactician:
If You’re Long / Thinking Long
Stay in (but tighten control):
It just broke out of the $1.30 box with conviction (volume + body expansion). That breakout level $1.30–$1.37 is now support. Pullbacks into this zone are buy-the-dip territory as long as volume doesn’t surge on red days.
RSI > 70 means “momentum zone” (strong trends can stay overbought for weeks), but be ready for shallow pullbacks (to 23.6%-38.2% Fib: $1.47–$1.37).
Upside Targets:
$1.84 (127.2%) – first likely stall.
$2.09 (161.8%) – next leg if sentiment heats up.
$2.37 (200%) – euphoria zone. Don’t expect it without a healthy base first.
Tactical move: Trail stops below $1.37 (38.2% Fib) if you want to stay aggressive, or tighter at $1.47 for a swing. If $1.37 fails on heavy volume, it’s probably a failed breakout.
If You’re Flat (No Position)
Two options:
Breakout pullback entry:
Wait for a dip into $1.47–$1.37. Buy there only if it holds with low selling volume. That’s the classic “backtest of breakout box.”
Momentum entry:
Chase only if price closes cleanly above $1.64 with volume acceleration. Target $1.84–$2.09. Use tight stops because of overextension risk.
If You’re Short or Considering Short
Don’t fade this yet. MACD, volume, and structure all say bulls are in charge. Shorts will likely get steamrolled unless you catch a blow-off top (look for a long upper wick + huge volume spike near $1.84 or $2.09).
Big Picture
This is transitioning from apathy to hope. Early longs (smart money) are in profit and likely to ride it higher. If it rips fast into $1.84-$2.09, that’s where emotions (FOMO) can set in—and where you start hunting for signs of exhaustion.
Not Financial Advice
The last 3 daily candles form a bullish continuation sequence:
Strong green candles with expanding bodies, closing near their highs. No significant upper wicks—this is a hallmark of sustained buying. Volume is not tapering; instead, it's growing, confirming conviction behind the move.
Earlier, around mid-June, there was a small consolidation followed by a bullish Marubozu candle (open near low, close near high). This often acts as a breakout candle per Nison.
No major reversal signals (no shooting star, bearish engulfing, or doji clusters at the highs yet).
This suggests momentum bulls are in control.
Trend & Momentum
Trend health: A fresh higher high and higher low sequence is emerging after months of compression. Price is starting to look parabolic, though still early.
Momentum:
RSI is now at 72.4 (overbought territory). This often precedes pullbacks, but in strong trends it can stay overbought for weeks.
MACD is strongly positive and widening—classic early stage trend acceleration.
This feels like a sentiment shift from apathy to FOMO. Watch for “emotional” moves if volume spikes further.
Range Box
The prior range formed a box.
The recent breakout above ~$1.30 is a clean box breakout with expanding volume—this confirms the breakout is likely genuine, not a false trap.
A new box may form $1.30–$1.64 if price stalls here.
The Tactical Play
This chart is flashing early markup phase (accumulation → breakout → markup). But the crowd is waking up now, so you have to manage emotion and probabilities like a tactician:
If You’re Long / Thinking Long
Stay in (but tighten control):
It just broke out of the $1.30 box with conviction (volume + body expansion). That breakout level $1.30–$1.37 is now support. Pullbacks into this zone are buy-the-dip territory as long as volume doesn’t surge on red days.
RSI > 70 means “momentum zone” (strong trends can stay overbought for weeks), but be ready for shallow pullbacks (to 23.6%-38.2% Fib: $1.47–$1.37).
Upside Targets:
$1.84 (127.2%) – first likely stall.
$2.09 (161.8%) – next leg if sentiment heats up.
$2.37 (200%) – euphoria zone. Don’t expect it without a healthy base first.
Tactical move: Trail stops below $1.37 (38.2% Fib) if you want to stay aggressive, or tighter at $1.47 for a swing. If $1.37 fails on heavy volume, it’s probably a failed breakout.
If You’re Flat (No Position)
Two options:
Breakout pullback entry:
Wait for a dip into $1.47–$1.37. Buy there only if it holds with low selling volume. That’s the classic “backtest of breakout box.”
Momentum entry:
Chase only if price closes cleanly above $1.64 with volume acceleration. Target $1.84–$2.09. Use tight stops because of overextension risk.
If You’re Short or Considering Short
Don’t fade this yet. MACD, volume, and structure all say bulls are in charge. Shorts will likely get steamrolled unless you catch a blow-off top (look for a long upper wick + huge volume spike near $1.84 or $2.09).
Big Picture
This is transitioning from apathy to hope. Early longs (smart money) are in profit and likely to ride it higher. If it rips fast into $1.84-$2.09, that’s where emotions (FOMO) can set in—and where you start hunting for signs of exhaustion.
Not Financial Advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.