Pantheon Resources Plc shares (LSE:PANR) have been helplessly bearish. The market plummeted from May 2022 to July 2022. It later rose massively in August; only to give away all those gains in September.
It is really a sad thing for buyers; as no sane buyers would be happy to see
the value of their assets being reduced.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart.
All the EMAs are sloping downwards, confirming the bearishness in the markets. Price can temporarily bounce into the EMAs 10 or 20 (even 50), but it would later go further south.
The outlook on PANR is bearish and the support lines at 100.00, 90.00 and 80.00 would soon be tested.
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
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