September 8 Chart of the Day - Pampa Energia
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Pampa Energia (PAM), one of Argentina’s largest power firms, saw its stock collapse more than 16% today.
After peaking near $98 earlier this year, price has been under pressure and is now searching for a bottom.
We'll review the chart from a price action perspective to identify potential levels of interest in both directions.
The charts highlight key levels where investors and traders alike will be watching closely.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 600+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.
Monthly Chart
On the monthly chart, price has fallen sharply from its highs, with current price around $56 resting just above prior support zones.
The Fibonacci retracement levels stand out here, with $53 and then $42.65 marking key downside levels to watch.
A sustained hold above $53 could signal stabilization, but a break lower would open the door to further weakness.
With plenty of volatility traders have had much to be happy with while investors seemingly have been disappointed.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
On the weekly chart, the broader context comes into focus. After the rally that took price into the high $90s, each bounce attempt has been met with selling pressure.
The recent breakdown now leaves price approaching the rising trendline from 2020.
If this line gives way, the $42–$43 zone may come into play quickly. Until bulls reclaim higher levels, momentum remains firmly with the sellers.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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