Cautious Stance on Palunteer Despite Strong Fundamentals

11 days ago

Viva Jaw

"I bought Palunteer during a correction on April 22nd and got a good profit cushion, but now the stock is trading sideways and I\"m not comfortable with the RS line, which is barely showing any upward momentum. Even though the fundamentals are strong, if I were initiating a new position, I would want a rising RS line to confirm the trend. For now, I\"m holding my position and watching the technicals closely before deciding on any further action."

The speaker explains his cautious approach toward Palunteer. Although he appreciates the company\"s strong fundamentals, he is hesitant to add to his position because the relative strength line is flat, and he prefers to see a rising trend as confirmation before making any further moves.