PMT Follow Up

PMT is a long trade that gave us a good entry on the 8/26

 Here's the triangle base and the white arrow is the low risk entry I linked above (Daily Chart)

 The daily 3C chart is in a leading positive divergence and looks like PMT is putting together a strong base from which to move higher. Note the small red negative divergence on the breakout from the triangle.

 The 30 min chart also shows some distribution at the triangle's breakout, it seems PMT is being sent lower to be accumulated some more and create a larger base.

 The 15 min chart shows the positive divergence in to lower prices, confirming my thoughts above.

In the near term (1 min chart) it looks similar to the market today in that it looks like it wants to pullback a bit more. This is a longer term position and I still like it quite a bit.