Premisys (PSS) - TA please

[martymcc]

Just noticed Premisys - PSS moving up nicely this past few days on good volume. Can someone do a bit of TA on this one for me. Thanks

Marty

 

[Uncle]

Well spotted Marty. The share having fallen from a intra day of 116.5 on the 21/8/00 to a low of 26.5 on the 17/1/01, has risen steadily to 39.25 at todays close 24/1

Williams, Stochastic and RSI shot up to Overbought on substantial spike in the volume yesterday 23/1.

The question is: Will the trend continue or will it be subject to profit taking???. Having broken above the pincer movement on BB I think it could be a useful buy.

 

[martymcc]

I can't find any reason for the volume spike and price rise. Does anyone know any reason for it? Something must be in the pipeline. Was very tempted to get in today at 40p but wanted to find a possible reason for the volume spike first. Any suggestions? Thanks

marty

 

[Riz]

this must be smart money..

No news, not even rumours, no positive recommendations..and the price shooting up...now isn't that strange for a stock dropping over 80% in less then 4 months, going sideways the following 2 months...then out of blue jumping up nearly 50%...

Agree with Uncle regarding charts..not worried about the price crossing over the upper BB as the BB themselves started widening up sharply..it's OBV however attracting most my attention..suggesting it's smart money piling in..more buy accumulation tomorrow and I might get in..if not I'd stay away as the profit takers will certainly pull it back considerably...

rizgar

[Edited by rizgar on 24-01-2001 at 11:27 PM]