PMI may have finally bottomed out

Discussion in 'Stocks' started by miguel007, Jul 13, 2011.

  1. Things to focus on technical chart above is the spike in volume on Wednesday of last week, July 6th. Plus, The downtrend line going back to the January high has been broken. It probably marked the end of the slide and beginning of bottoming. By a technical perspective, the outlook is now bullish and the stock could move to $1.72-1.85 levels in the near term. Stop-loss for existing holdings may be placed at $1.22. A close below this level would negate the positive outlook. Although both 50 day and 200 day moving averages are falling, the rising KD shows the stock is probably now in recovery mode.

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