Pix transmission , weekly -
Pix has been in a symmetric triangular pattern since Jan 2022 ( Basically a consolidation pattern). Falling volumes towards the right of the image, point to a classic VCP pattern.
From a stage perspective, stage 1 looks over ( it got over when it peaked out in jan 2022) and stage 2 is ongoing.
Breakout on either side of this pattern should be a good indicator of the next trend ( Stage 3 fall or continuation of stage 1 )
From a guppy perspective, both long term ( blue ) and short term ( green) appear to be converging, confirming the consolidation .
[My take on how the market is viewing Pix ] : Pix is taking a pause as the expected capacity expansion benefits are just about to start trickling in towards the end of this year.
Something to be watched out is the impact of the upcoming US recession , given that the main growth driver for Pix is expected to be on the export side.
[Disc ] : Invested at current levels
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