in regards for PDSG
I see the converging of the 60week and 120week sma lines. These are the solid lines and will converge in 2-3 days.
Here is the catch.
Action takes place during the convergence of major trendlines. But will price go up or down?
This could go either way. I do however think that it will break to the upside. I have reasons why:
-240 week sma is flattening indicating a bottom is present.
-Institutional buying is up 23% (59,000)
-This pennant being formed is in the upper trading range of the last 2 years. This is a bullish sign.
So why the entry price @ 1.75?
I think an interday shakeout could take place to rid this stock of weak hands. However don't count on it I just have a hunch.
-Greg