Technical analysis by Sai2k about Symbol PAXG: Buy recommendation (11/25/2024)

Overall Trend: The chart shows an initial downtrend followed by a corrective uptrend, indicating a potential reversal from the bearish momentum.Sentiment: 40 (Moderately Bullish)Patterns: Head and Shoulders Bottom, Bullish Engulfing, Ascending TriangleStrategy: Look for a breakout from the Ascending Triangle pattern and go long with a stop below the recent swing low. Target the measured move projection from the Head and Shoulders Bottom and previous resistance levels for take profits.Sentiment Analysis: The recent price action suggests a shift in market sentiment from bearish to bullish as buyers have stepped in after the downtrend, forming a potential reversal pattern.Market Structure: The chart shows a clear swing low formed after the initial sell-off, followed by a series of higher lows and higher highs, indicating a developing uptrend. Key resistance levels to watch are the previous swing highs.